Special supervisory powers

In order to prevent or put a stop to breaches of this Act or of Regulation (EU) 2019/2033, in particular for the purposes of implementing sections 46 to 48 and Regulation (EU) 2019/2033, the Bundesanstalt may order a securities institution 1. to hold, under the conditions laid down in section 50, additional own funds exceeding the requirements of Article 11 of Regulation (EU) 2019/2033, or to adjust its own funds and liquid assets requirements in the event of material changes in that securities institution's business activities; 2. to strengthen the arrangements, procedures, mechanisms and strategies put in place under sections 39 and 41; 3. to submit, within one year, a plan showing how the supervisory requirements of this Act and of Regulation (EU) 2019/2033 are to be met, to comply with a period set by the Bundesanstalt for implementing that plan, and to make improvements as to its scope and timing; 4. to adopt an appropriate provisioning policy or treatment of its assets with regard to own funds requirements; 5. to restrict or limit the securities institution's business areas, activities or network, or to divest business lines that pose excessive risks to the securities institution's own funds adequacy; 6. to reduce the risks connected with the activities, products and systems of securities institutions, including the risks connected with outsourced activities; 7. to limit variable remuneration as a percentage of net income, where that remuneration is not compatible with maintaining the securities institution's required own funds; 8. to use net profits to strengthen own funds; 9. to restrict or refrain from distributions or interest payments by a securities institution to shareholders, partners or holders of Additional Tier 1 instruments, where such a prohibition does not constitute an event of default for the securities institution; 10. to make returns in addition to, or more frequently than, required under this Act and Regulation (EU) 2019/2033, in particular on own funds and liquidity; 11. to satisfy special liquidity requirements in accordance with section 52; 12. to provide supplementary information on breaches of this Act or of Regulation (EU) 2019/2033; 13. to reduce the risks to the security of the networks and information systems that the securities institution uses to ensure the confidentiality, integrity and availability of its processes, data and assets; and 14. to reduce the securities institution's exposures to that central counterparty, or to reallocate exposures through the securities institution's clearing accounts under Article 7a of Regulation (EU) No 648/2012, where the Bundesanstalt considers that there is a risk of excessive concentration arising from exposures to a central counterparty.