Regulatory Alerts2018-04-18
Added · Updated
Fixed and Flexible Fine Rates for Financial Supervision Offences
Non-compliance with financial supervision legislation is classified into three categories based on gravity, with Category 1 offences carrying a fixed fine of EUR 10,000 that may be reduced but not increased. Category 2 and Category 3 offences use a flexible system where base amounts of EUR 500,000 and EUR 2,000,000 respectively can be adjusted by up to 50% based on factors such as duration and blame, resulting in maximum fines of EUR 1,000,000 and EUR 4,000,000. Fines for all categories are further determined by considering repetition, ability to pay, and proportionality, with Category 3 offences capped at EUR 5,000,000 under specific anti-money laundering and financial supervision acts.
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