Special powers under Regulation (EU) 2021/23

(1) The Federal Financial Supervisory Authority monitors compliance with the prohibitions and requirements contained in the articles of Titles III to V of Regulation (EU) 2021/23. It may issue directions suitable and necessary to enforce the prohibitions referred to in the first sentence. In particular, it may impose a temporary prohibition on members of the management of the central counterparty, or on another responsible natural person, from performing functions at a central counterparty, where 1. recovery plans are not prepared, kept up to date, or updated, contrary to Article 9; 2. a notification is not made, or is made incorrectly, incompletely, or not in time, contrary to Article 9(6); 3. measures are carried out against the supervisory authority's request, contrary to Article 9(7), second subparagraph; 4. not all information necessary for preparing resolution plans is provided, contrary to Article 13(1), first subparagraph; 5. records are not made available, or not made available completely or in time, contrary to Article 13(2); 6. information is not exchanged, or not exchanged completely or in time, contrary to Article 13(3); 7. the competent authority is not informed that the central counterparty is failing or is likely to fail, contrary to Article 70(1).
(2) The Federal Financial Supervisory Authority may publish, on its website, decisions on measures and sanctions issued under subsection (1), second and third sentences, and under section 152l.