(1) BaFin may enforce its orders, issued within its statutory powers, by coercive measures under the provisions of the Administrative Enforcement Act. It may threaten the coercive measures for each case of non-compliance. It may also apply coercive measures against legal persons under public law. The coercive fine is up to EUR 2,500,000.
(2) BaFin gives public notice of general orders. Public notice under section 41(4), first sentence of the Administrative Procedure Act is given by electronic publication on BaFin's website. The time of publication and the time of notification must be stated. By way of derogation from section 41(4), fourth sentence of the Administrative Procedure Act, the time of publication may, in especially justified cases, be determined as the time of notification. An especially justified case within the meaning of the fourth sentence may in particular exist for general orders of BaFin to 1. remove or prevent disadvantages to the stability of the financial markets, conditions that could shake confidence in the functioning of the financial markets, or other substantial disadvantages to the financial or securities market, or 2. secure the liquidity or solvency of supervised undertakings, or significant assets of customers or investors. An especially justified case within the meaning of the fourth sentence may furthermore in particular also exist where 1. it is to be feared that the addressees would circumvent the general order if it were notified later, 2. coordinated measures by several European supervisory authorities are necessary and an earlier notification has been agreed, or 3. an earlier notification is required under European legal provisions.
(3) Where the systems necessary for electronic publication are unavailable, public notice is given, by way of derogation from subsection (2), second sentence, by publication at the generally accessible place determined by BaFin for that purpose; subsection (2), third to sixth sentences applies accordingly.
Division Six
Financing of Separate Tasks