Annex IV

Financial servicesLevel 1RegulationEMIRIn forceVerifiedOfficial source

List of the coefficients linked to aggravating and mitigating factors for the application of Article 25j(3)

The following coefficients shall be applicable, cumulatively, to the basic amounts referred to in Article 25j(2):

I.Adjustment coefficients linked to aggravating factors:

(a)if the infringement has been committed repeatedly, for every time it has been repeated, an additional coefficient of 1,1 shall apply;

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(I)(b)

(b)if the infringement has been committed for more than six months, a coefficient of 1,5 shall apply;

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(I)(c)

(c)if the infringement has revealed systemic weaknesses in the organisation of the CCP, in particular in its procedures, management systems or internal controls, a coefficient of 2,2 shall apply;

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(I)(d)

(d)if the infringement has a negative impact on the quality of the activities and services of the CCP, a coefficient of 1,5 shall apply;

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(I)(e)

(e)if the infringement has been committed intentionally, a coefficient of 2 shall apply;

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(I)(f)

(f)if no remedial action has been taken since the breach has been identified, a coefficient of 1,7 shall apply;

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(I)(g)

(g)if the CCP’s senior management has not cooperated with ESMA in carrying out its investigations, a coefficient of 1,5 shall apply.

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(II)

II.Adjustment coefficients linked to mitigating factors:

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(II)(a)

(a)if the infringement has been committed for less than 10 working days, a coefficient of 0,9 shall apply;

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(II)(b)

(b)if the CCP’s senior management can demonstrate to have taken all the necessary measures to prevent the infringement, a coefficient of 0,7 shall apply;

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(II)(c)

(c)if the CCP has brought quickly, effectively and completely the infringement to ESMA’s attention, a coefficient of 0,4 shall apply;

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(II)(d)

(d)if the CCP has voluntarily taken measures to ensure that a similar infringement cannot be committed in the future, a coefficient of 0,6 shall apply.

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