Article 132 — Periodic penalty payments
Financial servicesLevel 1RegulationMiCAApplies from 30 Dec 2024In force, but its rules apply only from the date shown.VerifiedIdentical to the official source.Official source
132(1)(a)
(a)a person to cease the conduct constituting an infringement in accordance with a decision taken pursuant to Article 130;
Copy link132(1)(b)(i)
(i)to provide complete information which has been requested by a decision pursuant to Article 122;
Copy link132(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 123;
Copy link132(1)(b)(iii)
(iii)to submit to an on-site inspection ordered by a decision taken pursuant to Article 124.
Copy link132(2)Copy link
2.A periodic penalty payment shall be effective and proportionate. The periodic penalty payment shall be imposed for each day of delay.
132(3)Copy link
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 set out in EBA’s decision imposing the periodic penalty payment.