Special powers under Regulation (EU) 2022/2554

(1) In the event of breaches of Regulation (EU) 2022/2554, the Bundesanstalt may, without prejudice to other powers provided for in this Act, issue orders in individual cases that are appropriate and necessary to ensure compliance with the requirements of Regulation (EU) 2022/2554. In particular, it may order an institution 1. to cease conduct that breaches that Regulation and to refrain from repeating it; 2. to discontinue, temporarily or permanently, practices or conduct that contravene the provisions of the Regulation, and not to repeat them; 3. to ensure that the legal requirements continue to be met; and 4. to take corrective and remedial measures.
(2) The Bundesanstalt and the Deutsche Bundesbank may carry out investigations into compliance with the requirements of Regulation (EU) 2022/2554 within the scope of application of this Act. Without prejudice to other powers provided for in this Act, the Bundesanstalt may, for this purpose, summon members of the governing bodies of an institution for questioning, so that they can give oral or written statements on matters or documents connected with the subject matter and purpose of the investigation, and may record the oral statements. Section 5(6) applies correspondingly. The Bundesanstalt may transfer the conduct of the questioning to the Deutsche Bundesbank.