(1) It is a regulatory offence for a person to act contrary to an enforceable order under section 36(1), first sentence, (2), or (3), first sentence, section 53e, first half-sentence, sections 53g, 53h, 53l(1), second sentence, or (2), or under section 53n(1), first sentence, (2), first half-sentence, (3), first or fifth sentence, or (4), fifth or sixth sentence.
(1a) (repealed)
(2) It is a regulatory offence for a person to, intentionally or negligently, 1. fail to make a notification, or make it incorrectly, incompletely, or not in good time, contrary to a) section 2c(1), first, fifth, sixth, or seventh sentence, b) section 2c(3), first or fourth sentence, c) section 2h(1), first sentence, also in conjunction with section 2h(2), d) section 2i(1), first sentence, e) section 12a(1), third sentence, f) section 14(1), first sentence, first half-sentence, also in conjunction with a statutory instrument under section 22, first sentence, point 4, in each case also in conjunction with section 53b(3), first sentence, point 3, g) section 15(4), fifth sentence, h) section 24(1), points 1, 2, 4, 6, 8, 9, 12, 14 to 14b, 15, first or second half-sentence, points 15a to 17, 19, or 20, i) section 24(1), point 5 or point 7, in each case also in conjunction with section 53b(3), first sentence, point 5, j) section 24(1), point 10, (1a), or (1b), second sentence, k) section 24(1c), (1d), or (1e), l) section 24(1f), first, second, or fourth sentence, m) section 24(2a), first sentence, or (3), first sentence, n) section 24(3a), first sentence, points 1 to 4, first or second half-sentence, points 5, 6, or 7, o) section 24(3a), first sentence, point 8, first or second half-sentence, or point 9, p) section 24(3a), second sentence, q) section 24a(1), first sentence, also in conjunction with (3), first sentence, (3a), first sentence, (3b), first sentence, (3c), first sentence, or section 24a(4), first sentence, also in conjunction with the second sentence, in each case also in conjunction with a statutory instrument under section 24a(5), r) section 28(1), first sentence, or s) section 53a, second or fifth sentence, in each case also in conjunction with a statutory instrument under section 24(4), first sentence, 2. act contrary to a statutory instrument under a) section 2c(1), third sentence, or b) an enforceable order issued on the basis of such a statutory instrument, insofar as the statutory instrument refers, for a particular set of facts, to this provision on regulatory fines, 2a. (repealed) 3. act contrary to an enforceable order under a) section 2c(1b), first or third sentence, or (2), first sentence, b) section 6a(1), c) section 10i(8), first sentence, point 1, or section 10j(9), first sentence, point 1, d) section 12a(2), first sentence, e) section 23(1), also in conjunction with section 53b(3), first sentence, point 3, f) section 25a(2), second sentence, g) section 25b(4), first sentence, h) section 25g(3), i) section 25h(5), j) section 26a(2), first sentence, k) section 45(1), (2), (7), first or second sentence, or (8), first, second, or third sentence, l) section 45a(1), first sentence, m) section 45b(1), first sentence, point 1, also in conjunction with the second sentence or (3), or section 45b(1), first sentence, points 2 or 3, in each case also in conjunction with the second sentence, or n) section 46(1), first sentence, also in conjunction with section 53b(3), first sentence, point 8, 3a. acquire or increase a participating interest contrary to section 2c(1b), eighth sentence, first half-sentence, 3b. operate a company named therein without authorisation under section 2f(1), first sentence, also in conjunction with the second sentence, point 1, 3c. fail to attach a statement named therein correctly or completely, contrary to section 2f(2), first sentence, points 1 to 3 or point 4, 3d. act contrary to an enforceable order under section 2f(2), second sentence, 3e. fail to attach information named therein correctly, contrary to section 2f(4), second sentence, 3f. fail to transmit information, or transmit it incorrectly or not in good time, contrary to section 2f(5), second sentence, 3g. complete a planned demerger or merger contrary to section 2i(7), 3h. fail to ensure the maintenance of own funds named therein or compliance with a liquidity requirement named therein, contrary to section 10a(8), first sentence, points 2 or 3, 4. make a distribution contrary to section 10i(2) or (3), third sentence, point 1, or section 10j(2) or (3), fourth sentence, point 1, 5. grant a loan contrary to section 18(1), first sentence, 6. make a payment contrary to section 22i(3), also in conjunction with section 22n(5), fourth sentence, 7. fail to give a notice, or give it incorrectly, incompletely, not in the prescribed manner, or not in good time, contrary to section 23a(1), eleventh sentence, also in conjunction with section 53b(3), first sentence, point 4, 8. fail to inform a customer, the Federal Institute, or the Deutsche Bundesbank, or inform them incorrectly, incompletely, not in the prescribed manner, or not in good time, contrary to section 23a(2), also in conjunction with section 53b(3), first sentence, point 4, 9. fail to maintain a data file system, or maintain it incorrectly or incompletely, contrary to section 24c(1), first sentence, also in conjunction with section 53b(3), first sentence, point 6, or section 25i(3), first sentence, also in conjunction with section 53b(3), first sentence, point 8, 10. fail to ensure that the Federal Institute can retrieve data by automated means at any time, contrary to section 24c(1), fifth sentence, also in conjunction with section 53b(3), first sentence, point 6, 11. fail to submit a financial information report, a risk-bearing capacity information report, annual financial statements, a management report, an audit report, consolidated financial statements, or a consolidated management report, or submit any of these incorrectly, incompletely, or not in good time, contrary to a) section 25(1), first or second sentence, or (2), first or second sentence, in each case in conjunction with a statutory instrument under (3), first sentence, in each case also in conjunction with section 53b(3), first sentence, point 6, or b) section 26(1), first, third, or fourth sentence, or (3), 11a. fail to keep variable remuneration at a maximum of 100 percent, contrary to section 25a(5), second sentence, 11b. fail to make a notification, or fail to make it in good time, contrary to section 25a(5b), fourth sentence, 11c. fail to submit an application named therein, or fail to submit it in good time, contrary to section 25a(5c), 11d. fail to appoint a member named therein, contrary to section 25d(12), second or third sentence, 11e. fail to have internal procedures and control systems ensuring compliance with the duties under the statutory instrument under section 25g(1), point 1, contrary to section 25g(2), 11f. fail to operate a data processing system named therein, contrary to section 25h(2), first sentence, also in conjunction with section 53b(3), first sentence, point 7, 11g. fail to carry out investigations, contrary to section 25h(3), 11h. fail to fulfil the customer due diligence obligations under section 10(1) of the Money Laundering Act, contrary to section 25i(1), 12. establish or continue a correspondent relationship or other business relationship with a shell bank, contrary to section 25m, point 1, also in conjunction with section 53b(3), first sentence, point 8, 13. open or maintain an account, contrary to section 25m, point 2, first half-sentence, also in conjunction with section 53b(3), first sentence, point 8, 14. act contrary to an enforceable condition under section 32(2), first sentence, 15. fail to provide information, or provide it incorrectly, incompletely, or not in good time, or fail to submit a document, or submit it incorrectly, incompletely, or not in good time, contrary to a) section 44(1), first sentence, also in conjunction with section 44(1), seventh sentence, section 44b(1), first or third sentence, or section 53b(3), first sentence, point 8, b) section 44(2), first sentence, or c) section 44c(1), also in conjunction with section 53b(3), first sentence, point 8, 16. fail to tolerate a measure, contrary to a) section 44(1), sixth sentence, also in conjunction with section 53b(3), first sentence, point 8, b) section 44(2), fifth sentence, (4), sixth sentence, (5), tenth sentence, (6), third sentence, or (7), fifth sentence, c) section 44b(2), second sentence, (4), third sentence, or (5), third sentence, or d) section 44c(5), first sentence, also in conjunction with section 53b(3), first sentence, point 8, 17. fail to take a measure named therein, or fail to take it in good time, contrary to section 44(7), first sentence, 17a. act contrary to an enforceable order under section 48t(1), 17b. act contrary to an enforceable order under section 48u(1), first sentence, also in conjunction with section 53b(3), first sentence, point 8, or 18. commence activity contrary to section 53a, fourth sentence.
(3) (repealed)
(4) It is a regulatory offence for a person to infringe Regulation (EU) 2023/1113, as amended on 31 May 2023, by, intentionally or negligently, in connection with transfers of funds, 1. failing to ensure that the required information on the payer is transmitted in full, contrary to Article 4(1), also in conjunction with Articles 5 and 6, 2. failing to ensure that the required information is transmitted, contrary to Article 4(2), also in conjunction with Article 5(1), 3. failing to verify the accuracy of the information, or failing to verify it in good time, contrary to Article 4(4), also in conjunction with paragraph 5 and Articles 5 and 6, 4. failing to put in place effective procedures for detecting whether the information has been properly filled in, contrary to Article 7(1), 5. failing to put in place effective procedures for detecting whether the information named therein is missing, contrary to Article 7(2), 6. failing to verify the accuracy of the information on the payee, or failing to verify it in good time, contrary to Article 7(3), also in conjunction with paragraph 5, 7. failing to verify the accuracy of the information on the payee, or failing to verify it in good time, contrary to Article 7(4), also in conjunction with paragraph 5, 8. failing to introduce effective risk-based procedures, contrary to Article 8(1), first sentence, 9. failing to reject the transfer order, or failing to reject it in good time, or failing to request the required information on the payer or the payee, or failing to request it in good time, contrary to Article 8(2), second sentence, 10. failing to take measures, contrary to Article 8(2), first sentence, 11. failing to report the omission or the measures taken, contrary to Article 8(2), second sentence, 12. failing to ensure that all information on the payer or the payee transmitted with a transfer of funds remains with the transfer when it is passed on, contrary to Article 10, 13. failing to put in place effective procedures for detecting whether the information has been properly filled in, contrary to Article 11(1), 14. failing to put in place effective procedures for detecting whether the information named therein is missing, contrary to Article 11(2), 15. failing to introduce effective risk-based procedures, contrary to Article 12(1), first sentence, 16. failing to reject the transfer order, or failing to reject it in good time, or failing to request the required information on the payer or the payee, or failing to request it in good time, contrary to Article 12(1), second sentence, 17. failing to take measures, contrary to Article 12(2), first sentence, 18. failing to report the omission or the measures taken, contrary to Article 12(2), second sentence, or 19. failing to retain a record named therein, or failing to retain it for at least five years after the transfer of funds is carried out, contrary to Article 26(1), second sentence.
(4a) It is a regulatory offence for a person to, intentionally or negligently, charge a fee other than that named therein, contrary to Article 3(1) of Regulation (EU) 2021/1230, as amended on 13 March 2024.
(4b) It is a regulatory offence for a person acting for a CRR credit institution to infringe Regulation (EC) No 1060/2009, as amended on 13 December 2023, by, intentionally or recklessly, 1. using a rating, contrary to Article 4(1), first subparagraph, 2. failing to ensure that the CRR credit institution carries out its own credit risk assessments, contrary to Article 5a(1), 3. failing to properly place a mandate, contrary to Article 8c(1), 4. failing to ensure that the credit rating agencies mandated meet the conditions named therein, contrary to Article 8c(2), or 5. failing to properly carry out the documentation named therein, contrary to Article 8d(1), second sentence.
(4c) (repealed)
(4d) It is a regulatory offence for a person to infringe Regulation (EU) No 260/2012, as amended on 13 March 2024, by, intentionally or negligently, 1. failing to ensure the technical interoperability of the payment system, contrary to Article 4(2), first sentence, 2. adopting a business rule named therein, contrary to Article 4(2), second sentence, 3. hindering the execution of a credit transfer or a direct debit by a technical obstacle, contrary to Article 4(3), 4. executing a credit transfer, contrary to Article 5(1), first sentence, or (2), 5. executing a direct debit, contrary to Article 5(1), first sentence, or (3), first sentence, 6. charging a fee for a retrieval operation named therein, contrary to Article 5(8), 7. failing to offer the sending or receiving of an instant credit transfer, contrary to Article 5a(1), first subparagraph, 8. failing to ensure that all payment accounts are reachable for an instant credit transfer, contrary to Article 5a(1), second subparagraph, 9. failing to comply with a requirement named therein, or failing to comply with it correctly or completely, contrary to Article 5a(4), 10. failing to bring a payment account up to the state named therein, or failing to do so in good time, contrary to Article 5a(5), 11. failing to offer a facility named therein, or failing to offer it in good time, contrary to Article 5a(6), first sentence, 12. executing a payment order, contrary to Article 5a(6), fourth sentence, 13. failing to offer a facility named therein, contrary to Article 5a(7), first subparagraph, 14. prescribing an upper limit, contrary to Article 5a(7), second subparagraph, 15. failing to provide a service free of charge, contrary to Article 5b(2), 16. failing to carry out a payee verification, or failing to carry it out in good time, contrary to Article 5c(1), second sentence, or (4), 17. failing to inform the payer, or informing them incorrectly, incompletely, or not in good time, contrary to Article 5c(7), first sentence, 18. failing to carry out a verification named therein, or failing to carry it out in good time, contrary to Article 5d(1), or 19. failing to submit a notification or a report named therein, or submitting it incorrectly, incompletely, or not in good time, contrary to Article 15(3).
(4e) It is a regulatory offence for a person to infringe Regulation (EU) No 648/2012, as amended on 27 November 2024, by, intentionally or negligently, 1. failing to properly accept clearing, contrary to Article 7(1), first subparagraph, first sentence, or 2. failing to grant an application, or failing to grant it in good time, or failing to refuse it, or failing to refuse it in good time, contrary to Article 7(2).
(4f) It is a regulatory offence for a person to infringe Regulation (EU) No 909/2014, as amended on 13 December 2023, by, intentionally or recklessly, 1. providing non-banking-type ancillary services, contrary to Article 16(2), 2. failing to provide the particulars required under Article 17(2) in an application under Article 17(1), or providing them incorrectly or incompletely, or concealing material circumstances from the Federal Institute in the authorisation procedure under Article 17, 3. in a procedure whose subject is the withdrawal of authorisation under Article 20(1), failing to provide the particulars required for the decision on the withdrawal of authorisation, or providing them incorrectly or incompletely, or concealing material circumstances from the Federal Institute in the aforementioned procedure, 3a. failing to transmit a plan named therein to the Federal Institute, or transmitting it incorrectly or incompletely, or failing to transmit it by the expiry of a period set by the Federal Institute, but at the latest two years after the last transmission of such a plan, contrary to Article 22a(5), second sentence, 4. providing core services without the required recognition, contrary to Article 25(2), 5. establishing a branch without the required recognition, contrary to Article 25(2), 6. maintaining inadequate tools for monitoring risks, contrary to Article 26(1), 7. failing to determine the responsibilities of staff in key positions, or failing to determine them correctly, contrary to Article 26(2), 8. failing to take arrangements for preventing conflicts of interest, or failing to take them correctly, contrary to Article 26(3), 9. failing to have established appropriate procedures through which staff can internally report potential infringements of Regulation (EU) No 909/2014 via a mechanism created for that purpose, contrary to Article 26(5), 10. failing to carry out audits, or failing to carry them out correctly, contrary to Article 26(6), first sentence, 11. failing to submit the results of audits to the Federal Institute, contrary to Article 26(6), second sentence, 12. withholding audit results from the user committee, contrary to Article 26(6), second sentence, 13. making remuneration arrangements, contrary to Article 27(3), 14. failing to make available information named therein, or failing to make it available correctly, completely, or without delay after becoming aware of it, contrary to Article 27(11), letter a, 14a. failing to make public information named therein, or failing to make it public correctly, completely, or without delay after becoming aware of it, contrary to Article 27(11), letter b, 15. failing to inform the Federal Institute, or failing to inform it correctly, completely, or without delay after becoming aware of it, contrary to Article 27a(1), first subparagraph, 15a. failing to make a communication, or failing to make it correctly, completely, or without delay after the decision was taken, contrary to Article 27a(2), first subparagraph, or second subparagraph, second sentence, 15b. failing to inform the Federal Institute, or failing to inform it correctly, completely, or without delay after the decision was taken, contrary to Article 27a(2), second subparagraph, first sentence, 15c. acting contrary to an enforceable order under Article 27a(4), first subparagraph, first sentence, 16. failing to establish a user committee prescribed therein, contrary to Article 28(1), first sentence, 17. exerting influence on the user committee, contrary to Article 28(1), second sentence, 18. failing to publish rules, or failing to publish them correctly or completely, contrary to Article 28(2), second sentence, 19. breaching the duty of confidentiality as a member of the user committee, contrary to Article 28(5), first sentence, 20. failing to inform the Federal Institute or the user committee, or failing to inform them without delay, contrary to Article 28(6), 21. failing to retain a record, or failing to retain it for at least ten years, contrary to Article 29(1), 22. failing to make records available, contrary to Article 29(2), 23. making outsourcing arrangements, contrary to Article 30(1) or (2), second sentence, 24. failing to make information available, or failing to make it available correctly or completely, contrary to Article 30(3), 25. making an arrangement for outsourcing core services without holding the required authorisation, contrary to Article 30(4), 26. failing to set clearly determined and realistic objectives, contrary to Article 32(1), 27. failing to have transparent rules for the handling of complaints, contrary to Article 32(2), 28. failing to publish participation criteria, contrary to Article 33(1), first sentence, 29. failing to respond to a complaint within one month, contrary to Article 33(2), 30. failing to make public, or failing to make public correctly or completely, applicable prices and fees, contrary to Article 34(1), 31. failing to publish a price list, or failing to publish it correctly or completely, contrary to Article 34(2), 32. failing to submit information to the Federal Institute, or failing to submit it correctly or completely, contrary to Article 34(6) or (7), 33. failing to use the international open communication procedures and standards for messaging and reference data, contrary to Article 35, 34. failing to carry out a full reconciliation of securities accounts at least once every business day, contrary to Article 37(1), 35. causing or failing to prevent securities lending, debit balances, or the creation of securities, contrary to Article 37(3), 36. failing to keep records or accounts, or failing to keep them correctly or completely, contrary to Article 38(1), (2), (3), or (4), 37. using securities without the explicit prior consent of a client, contrary to Article 38(7), 38. operating a securities settlement system, contrary to Article 39(2), (4), (5), (6), or (7), 39. failing to make information available, or failing to make it available correctly or completely, contrary to Article 40(3), 40. failing to establish effective and clearly defined rules and procedures, contrary to Article 41(1), 41. failing to publish rules and procedures, or failing to publish them correctly or completely, contrary to Article 41(2), 42. concluding a contract whose content infringes Article 43, 43. failing to maintain sound management and control systems and sound IT tools for identifying, monitoring, and managing general business risks, contrary to Article 44, 44. failing to maintain IT tools, controls, or procedures, contrary to Article 45(1), 45. failing to establish a prescribed business continuity policy, or failing to adapt it, or failing to adapt it correctly, to changed circumstances, contrary to Article 45(3) and (4), 46. failing to hold financial assets with central banks, authorised credit institutions, or authorised central securities depositories, contrary to Article 46(1), 47. failing to have immediate access to its assets, contrary to Article 46(2), 48. failing to invest its financial resources exclusively in cash or in highly liquid financial instruments with minimal market and credit risk, contrary to Article 46(3), 49. failing to keep its total exposure to any single authorised credit institution or authorised central securities depository with which it holds its financial assets within acceptable concentration limits, contrary to Article 46(5), 50. persistently infringing the own funds requirements prescribed therein, contrary to Article 47(1), 51. (repealed) 52. (repealed) 53. establishing a central securities depository link without a required authorisation or notification, contrary to Article 48(2), 54. causing the retransfer of securities, contrary to Article 48(4), 55. failing to take appropriate measures to mitigate additional risks, or failing to take them correctly, contrary to Article 48(5), 56. operating a central securities depository link that does not enable "delivery versus payment" settlement, contrary to Article 48(7), 57. failing to respond to a requesting issuer within three months, contrary to Article 49(3), 58. denying another central securities depository access via a standard link, contrary to Article 50, 59. rejecting a central securities depository's application for a customised link, contrary to Article 51(1), 60. failing to respond to a requesting central securities depository within three months, contrary to Article 52(1), 61. denying access, contrary to Article 52(2), 62. failing to make transaction data available to a central securities depository, or failing to make it available completely or in good time, contrary to Article 53(1), first subparagraph, 63. failing to grant a central counterparty or a trading venue appropriate access to its securities settlement system, contrary to Article 53(1), second subparagraph, and (3), 64. failing to respond to a requesting party within three months, contrary to Article 53(2), 65. providing banking-type ancillary services, contrary to Article 54(1), 66. providing banking-type ancillary services for a central securities depository, contrary to Article 54(4), 67. failing to provide the particulars required under Article 55(2) in an application for authorisation under Article 55(1), or providing them incorrectly or incompletely, or concealing material circumstances in the aforementioned authorisation procedure, 68. in the procedure for withdrawal of authorisation under Article 57(1), failing to provide the particulars required for the decision on the withdrawal of authorisation, or providing them incorrectly or incompletely, or concealing material particulars, 69. failing to meet the specific supervisory requirements relating to credit risks named therein, contrary to Article 59(3), or 70. failing to meet the specific supervisory requirements relating to liquidity risks named therein, contrary to Article 59(4).
(4g) It is a regulatory offence for a person to infringe Regulation (EU) No 1286/2014, as amended on 13 December 2023, by, intentionally or recklessly, 1. failing to draw up or publish a key information document, or failing to draw it up or publish it correctly, completely, in good time, or in the prescribed manner, contrary to a) Article 5(1), b) Article 5(1) in conjunction with Article 6, c) Article 5(1) in conjunction with Article 7(2), or d) Article 5(1) in conjunction with Article 8(1) to (3), 2. failing to draw up or translate a key information document in the prescribed manner, contrary to Article 5(1) in conjunction with Article 7(1), 3. failing to review a key information document, or failing to review it in good time, contrary to Article 10(1), first sentence, 4. failing to revise a key information document, or failing to revise it completely, contrary to Article 10(1), first sentence, 5. failing to make a key information document available, or failing to make it available in good time, contrary to Article 10(1), second sentence, 6. making statements in marketing communications that contradict the information in the key information document or diminish its significance, contrary to Article 9, first sentence, 7. failing to include the required warnings in marketing communications, or failing to include them correctly or completely, contrary to Article 9, second sentence, 8. failing to make a key information document available, or failing to make it available in good time or in the prescribed manner, contrary to a) Article 13(1), (3), and (4), or b) Article 14, 9. failing to provide for a procedure or arrangement named therein, contrary to Article 19, letter a, or 10. failing to provide for suitable procedures and arrangements, or failing to provide for them correctly or in the prescribed manner, ensuring that retail investors have access to effective complaint procedures in the event of cross-border disputes, contrary to Article 19, letter c.
(4h) It is a regulatory offence for a person to, intentionally or recklessly, 1. fail to ensure, by corresponding measures, that a tied agent continuously meets the requirements demanded therein, contrary to section 25e(4), first sentence, 2. fail to retain evidence required thereafter, or fail to retain it for the statutory period, contrary to section 25e(4), second sentence, 3. (repealed) 4. (repealed) 5. fail to devote sufficient time to performing his duties as a manager, contrary to section 25c(1), first sentence, 6. hold, as a manager, an excessive number of management or supervisory mandates, contrary to section 25c(2), second sentence, in conjunction with (1), third, fourth, and fifth sentences, or 7. fail to attach correctly or completely particulars, evidence, a business plan, or annual or consolidated financial statements named therein, contrary to section 32(1), fifth sentence, also in conjunction with a statutory instrument under section 24(4), first or third sentence.
(4i) Infringements of Regulation (EU) 2019/1238, as amended on 13 December 2023, by persons within the scope of application of this Act may be sanctioned under section 120a of the Securities Trading Act.
(4j) It is a regulatory offence for a person to 1. conduct banking business without meeting the own funds requirements named in Article 92(1) of Regulation (EU) No 575/2013, as amended on 17 June 2025, or 2. conduct banking business and, in doing so, repeatedly fail to hold liquid assets in the amount named in Article 412(1), first sentence, of Regulation (EU) No 575/2013, as amended on 17 June 2025.
(5) It is a regulatory offence for a person to infringe Regulation (EU) No 575/2013, as amended on 17 June 2025, or section 1a in conjunction with Regulation (EU) No 575/2013, as amended on 17 June 2025, by, intentionally or negligently, 1. counting interim profits or year-end profits towards Common Equity Tier 1 capital without the required permission, contrary to Article 26(2), first subparagraph, first sentence, 2. classifying capital instruments as Common Equity Tier 1 instruments without the required permission, contrary to Article 26(3), first subparagraph, second sentence, 3. classifying capital instruments as Common Equity Tier 1 instruments although the provisions governing the later issuance are not substantially identical to the provisions governing the issuances for which the institution has already received a permission, or failing to notify, or failing to notify in good time, before capital instruments are classified as Common Equity Tier 1 instruments, contrary to Article 26(3), second subparagraph, 4. making preferential distributions on Common Equity Tier 1 instruments, contrary to Article 28(1), letter h, point (i), 5. making distributions on Common Equity Tier 1 instruments out of items that are not eligible for distribution, contrary to Article 28(1), letter h, point (ii), or making distributions on Additional Tier 1 instruments out of items that are not eligible for distribution, contrary to Article 52(1), first subparagraph, letter l, point (i), 6. failing to inform the competent authority without delay upon the occurrence of a trigger event, contrary to Article 54(5), letter a, 7. reducing own funds or eligible liabilities without permission, contrary to Article 77(1), letter a, b, or c, or (2), 8. failing to notify, or failing to notify in good time, the failure to meet the condition under Article 94(1), letter a or b, contrary to Article 94(6), 8a. failing to apply a requirement named therein without an approval under Article 113(6), first sentence, 8b. exempting an exposure without a permission under Article 113(7), first sentence, 9. failing to notify, or failing to notify in good time, the failure to meet the requirements, contrary to Article 146, 10. failing to demonstrate, or failing to demonstrate correctly, completely, or adequately, compliance with the requirements, contrary to Article 175(5), 11. failing to demonstrate, or failing to demonstrate correctly or completely, the existence of systems, contrary to Article 213(2), first sentence, 12. failing to notify, or failing to notify correctly or completely, the making use of the possibility named in the first sentence, contrary to Article 248(3), second sentence, 13. failing to notify, or failing to notify in good time, the failure to meet the requirements, contrary to Article 283(6), 14. failing to demonstrate adequately, or failing to demonstrate in good time, the temporal coincidence described therein, contrary to Article 292(3), first sentence, 15. incurring an exposure, contrary to Article 395(1), first sentence, also in conjunction with the second sentence, 16. failing to report, or failing to report correctly, completely, or without delay, the amount of the excess and the name of the client concerned, contrary to Article 395(5), second sentence, 17. failing to report, or failing to report correctly, completely, or without delay, the value of the exposure, contrary to Article 396(1), first sentence, 18. (repealed) 19. repeatedly or continuously failing to hold stable funding instruments in the amount described therein, contrary to Article 413(1), 20. failing to notify, or failing to notify correctly, completely, or without delay, non-compliance or expected non-compliance with the requirements, contrary to Article 414, first sentence, first half-sentence, 21. failing to submit, or failing to submit correctly, completely, or in good time, a plan, contrary to Article 414, first sentence, second half-sentence, 21a. failing to correctly calculate the net stable funding ratio, contrary to Article 428b(1), second sentence, 21b. failing to keep the net stable funding ratio at least at the amount named therein, contrary to Article 428b(2), 21c. failing to correctly calculate, or failing to correctly monitor, the net stable funding ratio, contrary to Article 428b(4), 21d. failing to correctly calculate the leverage ratio, contrary to Article 429(1), 22. failing to report, or failing to report correctly, completely, or in good time, on the obligations under Article 92, contrary to Article 430(1), first subparagraph, letter a, and (2), 23. failing to submit, or failing to submit correctly, completely, or in good time, a report, contrary to Article 430(1), first subparagraph, letter b, 24. failing to submit, or failing to submit correctly, completely, or in good time, a report, contrary to Article 430(1), first subparagraph, letter c, 25. failing to report, or failing to report correctly, completely, or in good time, the information on the liquidity position described therein, contrary to Article 430(1), first subparagraph, letter d, 26. failing to transmit, or failing to transmit correctly, completely, or in good time, the data named, contrary to Article 430(1), first subparagraph, letter e, 26a. failing to make a notification, or failing to make it correctly or completely, contrary to Article 430a(1) in conjunction with Article 430a(2), 27. failing to publish, or failing to publish correctly, completely, or in good time, the information described therein, contrary to Article 431(1), 28. failing to disclose, or failing to disclose correctly, completely, or in good time, the information contained in the approvals described therein, contrary to Article 431(2), 29. failing to publish, or failing to publish correctly, completely, or in good time, the information named therein, contrary to Article 431(3), third subparagraph, second and third sentences, or 30. failing to disclose, or failing to disclose correctly, completely, or in good time, the information named therein, contrary to Article 451(1). The provisions of the first sentence also apply to a credit institution or financial services institution within the meaning of section 1a.
(5a) It is a regulatory offence for a person to, intentionally or negligently, charge an interchange fee higher than that named in Article 3(1) or Article 4, first sentence, of Regulation (EU) 2015/751, as amended on 29 April 2015.
(5b) It is a regulatory offence for a person to select assets contrary to Article 6(2), first sentence, of Regulation (EU) 2017/2402, as amended on 31 March 2021.
(5c) It is a regulatory offence for a person, within the scope of application of this Act, to infringe Regulation (EU) 2017/2402, as amended on 31 March 2021, by, intentionally or negligently, 1. failing to hold a share named therein, contrary to Article 6(1), first sentence, 2. failing to make information available, or failing to make it available correctly, completely, in the prescribed manner, or in good time, contrary to Article 7(1), first to fourth subparagraphs, or fifth subparagraph, 3. applying a different criterion or procedure, contrary to Article 9(1), first or second sentence, 4. using a designation named therein, contrary to Article 18, first sentence, 5. failing to inform the European Securities and Markets Authority, or failing to inform it correctly, completely, or in good time, or failing to notify the Federal Institute, or failing to notify it correctly, completely, or in good time, contrary to Article 27(4), or 6. failing to make a notification, or failing to make it correctly, completely, or in good time, contrary to Article 28(2).
(5d) It is a regulatory offence for a person, within the scope of application of this Act, to, intentionally or negligently, 1. fail to ensure that it has an effective system under Article 9(1), third sentence, of Regulation (EU) 2017/2402, as amended on 31 March 2021, 2. securitise an exposure named in Article 9(3) of Regulation (EU) 2017/2402, as amended on 31 March 2021, without having carried out a review named therein, or 3. make a notification under Article 27(1), first, second, or third subparagraph, second sentence, of Regulation (EU) 2017/2402, as amended on 31 March 2021, with misleading content.
(5e) It is a regulatory offence for a person to infringe Regulation (EU) 2022/2554, as amended on 14 December 2022, by, intentionally or negligently, 1. acting contrary to an enforceable order under a) Article 6(5), third sentence, Article 28(3), fourth subparagraph, or Article 42(6), first sentence, or b) Article 16(2), third sentence, or Article 26(1), second sentence, 2. failing to submit, or failing to submit correctly, completely, or in good time, the notification named therein, contrary to Article 19(4), 3. failing to carry out a test, or failing to carry it out correctly, completely, or in good time, contrary to Article 26(1), first sentence, 4. failing to make a report, or failing to make it correctly, completely, or in good time, contrary to Article 28(3), third subparagraph, 5. failing to inform the authority, or failing to inform it correctly or completely, a) about a planned contractual arrangement by the time such an arrangement is concluded, or b) without delay about the case where a function has become critical or important, contrary to Article 28(3), fifth subparagraph, or 6. failing to make a communication, or failing to make it correctly, completely, or in good time, contrary to Article 45(3).
(6) The regulatory offence may be sanctioned 1. in the cases under subsection (2), point 1, letters a to c, j, l, and o, point 3, letters a and f, points 3b, 3d, 3e, 3g, 3h, 4, 11a to 12, subsection (4d), point 18, subsections (4f), (4h), (4j), (5), first sentence, points 1 to 7, 15, 18, 19, and 21a to 30, subsections (5b) to (5d), and subsection (5e), points 2 and 3, with a fine not exceeding five million euros, 1a. in the cases under subsection (4g), with a fine not exceeding seven hundred thousand euros, 2. in the cases under subsections (1) and (2), point 3, letter l, and subsections (5a) and (5e), points 1, 4, 5, and 6, with a fine not exceeding five hundred thousand euros, 3. in the cases under subsection (2), point 15, letter c, with a fine not exceeding three hundred thousand euros, 4. in the cases under subsection (2), point 2, letter a, point 3, letters b to e, g to k, and m, points 5 to 10, 13, 14, 17a, and 17b, subsections (4), (4b), points 1 to 5, and subsection (4c) in conjunction with subsection (1a), with a fine not exceeding two hundred thousand euros, and 5. in the remaining cases, with a fine not exceeding one hundred thousand euros.
(6a) A higher fine than under subsection (6) may be imposed on a legal person or an association of persons in the cases under subsections (4f), (4g), (4h), (5b) to (5d); this fine may not exceed the higher of the following amounts: 1. in the cases under subsection (4f), the higher of twenty million euros or 10 percent of the total turnover that the legal person or the association of persons achieved in the financial year preceding the authority's decision, 2. in the cases under subsection (4g), the higher of five million euros or 3 percent of the total turnover that the legal person or the association of persons achieved in the financial year preceding the authority's decision, and 3. in the cases under subsections (4h), (5b) to (5d), the higher of five million euros or 10 percent of the total turnover that the legal person or the association of persons achieved in the financial year preceding the authority's decision.
(6b) A fine exceeding subsection (6) may be imposed on a legal person or an association of persons in the cases under subsection (2), points 11b to 13, and in the cases under subsection (4), points 1 to 3, 8, 9, and 11 to 15, where these are persistent infringements; the fine may not exceed the higher of the following amounts: 1. five million euros, or 2. 10 percent of the total turnover that the legal person or association of persons achieved in the financial year preceding the authority's decision.
(6c) In the case of a legal person or an association of persons with a total turnover exceeding EUR 50 million, a regulatory offence under subsection (4d), point 18, may, by way of derogation from subsection (6), point 1, be sanctioned with a fine not exceeding 10 percent of total turnover.
(6d) Beyond the amounts named in subsections (6), (6a), and (6b), the regulatory offence may, in the cases under subsection (2), points 11b to 13, in the cases under subsection (4), points 1 to 3, 8, 9, and 11 to 15, in the cases under subsections (4f) to (4h), and in the cases under subsections (5b) to (5d), be sanctioned with a fine of up to twice the economic benefit derived from the infringement. The economic benefit comprises profits obtained and losses avoided, and may be estimated.
(6e) Total turnover within the meaning of subsections (6a) and (6b), point 2, and of subsection (6c), means 1. in the case of credit institutions within the meaning of section 340(1) of the Commercial Code, financial services institutions within the meaning of section 340(4) of the Commercial Code, and institutions within the meaning of section 340(5) of the Commercial Code, the total amount of those items that, under the commercial law provisions applicable to the institution or the national law applicable to the institution, correspond to the items named in Article 27, points 1, 3, 4, 6, and 7, or Article 28, letter B, points 1 to 4 and 7, of Directive 86/635/EEC, as amended on 14 June 2006, 2. in the case of insurance undertakings within the meaning of section 341(1) or (2) of the Commercial Code, the amount of gross premiums written in accordance with the commercial law provisions, or the national law applicable to the insurance undertaking, in accordance with Article 35 of Directive 91/674/EEC, as amended on 14 June 2006, and 3. otherwise, the amount of revenue under section 277(1) of the Commercial Code, or the amount of net turnover in accordance with the national law applicable to the undertaking, in accordance with Article 2, point 5, of Directive 2013/34/EU, as amended on 29 April 2024. Where the legal person or association of persons is the parent undertaking or a subsidiary, the respective total amount in the parent undertaking's consolidated financial statements drawn up for the largest group of undertakings is authoritative in place of the legal person's or association of persons' total turnover. Where the consolidated financial statements for the largest group of undertakings are not drawn up under the provisions named in the first sentence, total turnover is to be determined by reference to items of the consolidated financial statements comparable to those named in the first sentence, points 1 to 3. Where annual financial statements or consolidated financial statements for the relevant financial year are not available, the annual or consolidated financial statements for the immediately preceding financial year are authoritative; where these are also not available, total turnover may be estimated.
(6f) Section 17(2) of the Act on Regulatory Offences does not apply to infringements of requirements and prohibitions referred to in subsections (6a) and (6b). Section 30 of the Act on Regulatory Offences also applies to legal persons or associations of persons that are active domestically through a branch or by way of the cross-border provision of services. Prosecution of the regulatory offences under subsections (4f) to (4h) becomes time-barred after three years.
(7) (repealed)
(8) (repealed)
Home› Banking & Credit Institutions› KWG (EN)
Section 56
Provisions on regulatory fines
←→ also move between sections