Article 66 — Periodic penalty payments
Financial servicesLevel 1RegulationEMIRStage: AdoptedStage 3 of 3: Proposal → Agreed → AdoptedVerifiedIdentical to the official source.Official source
66(1)(a)
(a)a trade repository to put an end to an infringement in accordance with a decision taken pursuant to Article 73(1)(a); or
Copy link66(1)(b)(i)
(i)to supply complete information which has been requested by a decision pursuant to Article 61;
Copy link66(1)(b)(ii)
(ii)to submit to an investigation and in particular to produce complete records, data, procedures or any other material required and to complete and correct other information provided in an investigation launched by a decision pursuant to Article 62; or
Copy link66(1)(b)(iii)
(iii)to submit to an on-site inspection ordered by a decision taken pursuant to Article 63.
Copy link66(2)
2.A periodic penalty payment shall be effective and proportionate. The periodic penalty payment shall be imposed for each day of delay.
Copy link66(3)
3.Notwithstanding paragraph 2, the amount of the periodic penalty payments shall be 3 % of the average daily turnover in the preceding business year, or, in the case of natural persons, 2 % of the average daily income in the preceding calendar year. It shall be calculated from the date stipulated in the decision imposing the periodic penalty payment.
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