Provisions on Regulatory Fines

(1) It is a regulatory offence for a person to act contrary to an enforceable order under section 7(1), second sentence, no. 1, also in conjunction with the fourth sentence, or under section 20(1), (3) or (4).
(2) (repealed)
(3) It is a regulatory offence for a person, wilfully or negligently, to 1. fail to give information, or to give it incorrectly, incompletely or not in time, or fail to produce a document, or produce it incorrectly, incompletely or not in time, contrary to section 8(1) or section 19(1), first sentence, 2. fail to tolerate a measure contrary to section 8(5), first sentence, also in conjunction with subsection (6), or section 19(1), sixth sentence, (5), tenth sentence, or (6), third sentence, 3. act contrary to an enforceable condition under section 10(4), first sentence, or section 11(3), first sentence, 3a. fail to make a notification, or fail to make it correctly, completely or in time, contrary to a) section 14(1), second sentence in conjunction with section 2c(1), first, fifth, sixth or seventh sentence, or (3), first or fifth sentence, of the Banking Act, or b) section 28(1), nos. 1 to 2a, 4 to 9 or 10, (2) or (3), or section 38(1), first sentence, 3b. fail to submit, or fail to submit correctly, completely or in time, a) a particular named in section 15(2), first sentence, in conjunction with a statutory instrument under section 15(3), first sentence, no. 2, or second sentence, b) annual financial statements, a management report, an audit report, consolidated financial statements or a group management report under section 22(1), first or third sentence or (2), first or second sentence, or c) a monthly return under section 29(1), first sentence, also in conjunction with section 29(2), in each case in conjunction with a statutory instrument under section 29(3), first or second sentence, 4. fail to take a measure named in section 19(3), first sentence, or take it incorrectly, incompletely or not in time, 5. act contrary to an enforceable order under section 21(3), first sentence, or section 27(3), first sentence, also in conjunction with the third sentence, 5a. fail, contrary to section 27(1), first and second sentences, no. 5, to have appropriate measures, including data processing systems, to ensure compliance with the requirements of the Anti-Money Laundering Act and of Regulation (EU) 2023/1113 as of 31 May 2023, 6. act contrary to an enforceable order under section 27(2), first sentence in conjunction with section 6a(1) or section 25i(4) of the Banking Act, 7. fail to keep, or keep incorrectly or incompletely, a file system contrary to section 27(2), first sentence in conjunction with section 24c(1), first sentence, or section 25i(3), first sentence, of the Banking Act, 8. fail to ensure, contrary to section 27(2), first sentence in conjunction with section 24c(1), fifth sentence of the Banking Act, that BaFin can retrieve data, 9. fail to comply with the due diligence obligations under section 10(1) of the Anti-Money Laundering Act, contrary to section 27(2), first sentence in conjunction with section 25i(1) of the Banking Act, 10. (repealed), 11. act contrary to an enforceable order under section 27(2), first sentence in conjunction with section 25i(4) of the Banking Act, 12. fail to record, or fail to record correctly or completely, particulars collected or information obtained, contrary to section 27(2), first sentence in conjunction with section 8(1) of the Anti-Money Laundering Act, 13. (repealed), 14. fail to grant a payment initiation service provider or an account information service provider access to a payment account, contrary to section 52(1) and (3), 15. fail to inform BaFin, or fail to inform it correctly, completely or in time, contrary to section 54(1), first sentence.
(3a) Breaches of Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/1011 (OJ L 333, 27.12.2022, p. 1), committed by persons within the scope of this Act, may be sanctioned under section 56(5e) and (6), nos. 1 and 2 of the Banking Act.
(4) The regulatory offence may be sanctioned, in the cases under subsection (1), with a fine of up to EUR 1,000,000, in the cases under subsection (3), nos. 1 and 2, with a fine of up to EUR 300,000, and, in the remaining cases, with a fine of up to EUR 100,000.
(5) The administrative authority within the meaning of section 36(1), no. 1 of the Regulatory Offences Act is BaFin.