Contents
- 1. Member States shall ensure that pecuniary sanctions are im…
- 2. Member States shall ensure that in the cases referred to i…
- 3. Member States shall ensure that, by way of derogation from…
- 4. Member States may empower competent authorities to impose…
- 5. Member States shall ensure that, when determining the amou…
1.Member States shall ensure that pecuniary sanctions are imposed on obliged entities for serious, repeated or systematic breaches, whether committed intentionally or negligently, of the requirements laid down in the following provisions of Regulation (EU) 2024/1624:
(a)Chapter II (Internal policies, procedures and controls of obliged entities);
(b)Chapter III (Customer due diligence);
(c)Chapter V (Reporting obligations);
(d)Article 77 (Record retention).
Member States shall also ensure that pecuniary sanctions can be imposed where obliged entities have not complied with administrative measures applied to them pursuant to Article 56 of this Directive or for breaches that are not serious, repeated or systematic.
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