Contents
2.Where a competent Eurosystem central bank has identified a case of serious misconduct pursuant to Article 5(2), it shall contact the reporting agent concerned, in writing, to notify that reporting agent of at least the following:
(a)the nature of the serious misconduct;
(b)that an infringement procedure is to be initiated and the possibility, in such case, that a sanction may be imposed on the reporting agent;
(c)that the reporting agent has an opportunity to provide reasons; and
(d)that the serious misconduct is to be corrected by the reporting agent to ensure compliance with the statistical reporting requirement and, where relevant, to ensure effective cooperation with the competent Eurosystem central bank, without delay.
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