art_44__para_3

3. Member States shall provide that the competent authorities may disclose to the public any administrative penalty that is imposed for infringement of the measures adopted pursuant to this Directive, unless such disclosure would seriously jeopardise the financial markets or cause disproportionate damage to the parties involved.

1 national measure recorded under this provision, in 1 form — sign in to view the analysis.

← art_44__para_2 · All articles · Article 45 →

Source: EUR-Lex CELLAR · retrieved 2026-07-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.