Regulatory fine provisions relating to Regulation (EU) 2023/2631

(1) A person acts unlawfully who, intentionally or negligently, contravenes an enforceable order under section 18a(1) to (7), (8), first sentence, (9), first sentence, (10) to (12), first sentence, (13), second sentence, (14) or (15), second sentence.
(2) A person acts unlawfully who infringes Regulation (EU) 2023/2631 of the European Parliament and of the Council of 22 November 2023 on European Green Bonds and optional disclosures for bonds marketed as environmentally sustainable and for sustainability-linked bonds (OJ L, 2023/2631, 30.11.2023) by, intentionally or recklessly,
1. failing to complete a factsheet, failing to do so correctly, completely, or in time, contrary to Article 10(1)(a), including in conjunction with Article 16(1)(a), (3)(b) or Article 18(3),
2. failing to ensure, contrary to Article 10(1)(b), including in conjunction with Article 16(1)(a) or (3)(b), that a factsheet has undergone a pre-issuance review, or that an external reviewer has issued a positive opinion,
3. failing to prepare an allocation report with the information required under Annex II, failing to do so correctly, completely, or in time, contrary to Article 11(1), first subparagraph, including in conjunction with Article 16(1)(a) or (3)(b),
4. failing to have an allocation report undergo a post-issuance review without delay after its preparation or amendment, contrary to Article 11(4), (5) or (6), first subparagraph, first sentence, each also in conjunction with Article 16(1)(a),
5. failing to amend an allocation report, failing to do so correctly, completely, or in time, contrary to Article 11(5), including in conjunction with Article 16(1)(a),
6. failing to ensure, contrary to Article 11(7), first sentence, including in conjunction with Article 16(1)(a), that an allocation report or a review is published,
7. failing to ensure, contrary to Article 11(7), second sentence, including in conjunction with Article 16(1)(a), that the reviewer has at least 90 days available for the review of an allocation report,
8. failing to prepare a report with the information required under Annex III, failing to do so correctly, completely, in the prescribed manner, or in time, or failing to publish it without delay after its preparation, contrary to Article 12(1), including in conjunction with Article 16(1)(a),
9. publicly offering a security under the designation "European Green Bond" or "EuGB" contrary to Article 14(1) in conjunction with Article 3(1) of Regulation (EU) 2017/1129,
10. failing to make a publication, failing to do so correctly, completely, or in time, contrary to Article 15(1), first subparagraph, points (a) to (e) or (f), each also in conjunction with Article 16(1)(a) or (3)(b),
11. failing to publish a review of an impact report, failing to do so correctly, completely, or without delay after its receipt, contrary to Article 15(1), first subparagraph, point (h), including in conjunction with Article 16(1)(a) or (3)(b),
12. failing to make available, or failing to keep available for at least twelve months, a factsheet, a pre-issuance review, a link, an allocation report, a post-issuance review, an impact report, a CapEx plan, or a review of an impact report, contrary to Article 15(1), first subparagraph, a) points (a), (d) or (f), each also in conjunction with Article 15(2) or (3), or b) points (b), (c), (e), (g) or (h), each also in conjunction with Article 16(1)(a) or (3)(b),
13. failing to make a notification, or failing to do so in time, contrary to Article 15(4) or (5), each also in conjunction with Article 16(1)(a) or (3)(b),
14. failing to provide evidence, or failing to do so in time, contrary to Article 18(4), or
15. failing to include information named therein,
a) without delay after its inclusion in the prospectus, in the factsheet, or
b) together with the annual update to be made, in the allocation report, contrary to Article 19(3).
(3) A person acts unlawfully who, intentionally or recklessly,
1. publicly offers a securitisation bond under the designation "European Green Bond" or "EuGB" although a securitised risk exposure of that securitisation bond serves to finance an activity named in Article 18(1) of Regulation (EU) 2023/2631,
2. publicly offers a securitisation bond under the designation "European Green Bond" or "EuGB" although a securitised risk exposure of that securitisation bond serves to finance an activity named in Article 18(2) of Regulation (EU) 2023/2631 that does not satisfy a criterion for "avoiding significant harm" named in Annex I of Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation, and for determining whether that economic activity causes no significant harm to any of the other environmental objectives (OJ L 442, 9.12.2021, p. 1), as last amended by Delegated Regulation (EU) 2023/2485 (OJ L, 2023/2485, 21.11.2023),
3. publishes a prospectus for a securitisation bond designated as "European Green Bond" or "EuGB" that does not contain the statement named in Article 19(1) of Regulation (EU) 2023/2631, or
4. as issuer or originator of a bond marketed as sustainable or as a sustainability-linked bond, uses, when publishing information named in Article 21(1) of Regulation (EU) 2023/2631, a template that does not meet a requirement named in Article 21(2) or (3)(a), (b) or (d) of Regulation (EU) 2023/2631.
(4) The regulatory offence may, in the cases
1. under paragraph 1, and
2. under paragraphs 2 and 3, be punished with a regulatory fine of up to fifty thousand euros. In the cases under the first sentence, no. 2, section 30(2), third sentence of the Act on Regulatory Offences applies.
(5) In the case of a legal person or association of persons with an annual total turnover of more than 100 million euros, a regulatory offence under paragraphs 2 and 3 may, by way of derogation from paragraph 4, second sentence, be punished with a regulatory fine of up to 0.5 percent of the annual total turnover.
(6) The regulatory offence may, in the cases under paragraphs 2 and 3, beyond paragraph 4, first sentence, no. 2 and second sentence, and beyond paragraph 5, be punished with a regulatory fine of up to twice the profits made or losses avoided through the infringement, insofar as such profit or loss can be quantified.
(7) Section 120(23) of the Securities Trading Act applies accordingly to determine the total turnover within the meaning of paragraph 5.
(8) The administrative authority within the meaning of section 36(1) no. 1 of the Act on Regulatory Offences is the Bundesanstalt.