Recital 30

(30) In addition to administrative pecuniary penalties, competent authorities should be empowered to impose periodic penalty payments on institutions, financial holding companies, mixed financial holding companies and on those members of the management body in its management function, senior management, key function holders, other material risk takers and any other natural persons who are identified as responsible, in accordance with national law, for the breach of the obligation to comply with national provisions transposing Directive 2013/36/EU, or with their obligations under Regulation (EU) No 575/2013 or under a decision taken by a competent authority on the basis of those provisions or that Regulation. Member States should lay down specific rules and effective mechanisms regarding the application of periodic penalty payments. Periodic penalty payments should be imposed where a breach is continuing. Without prejudice to the procedural rights of the affected persons under applicable law, including the right of those persons to be heard, competent authorities should be able to impose periodic penalty payments without having to address a prior request, order or warning to the party in breach requiring a return to compliance. Since the purpose of the periodic penalty payments is to compel natural or legal persons to terminate an ongoing breach, the application of periodic penalty payments should not prevent competent authorities from imposing subsequent administrative penalties for the same breach. It should be possible for periodic penalty payments to be imposed on a given date and to start applying at a later date. Unless otherwise provided for by Member States, periodic penalty payments should be calculated on a daily basis.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.