Article 50
Administrative penalties and remedial measures
TL;DR
This article from the European Union's Digital Operations Resilience Act outlines the powers and penalties possessed by competent authorities in order to ensure compliance with the Act's requirements. They include the right to access documents, carry out inspections and investigations, summon financial entity representatives for questioning, issue corrective measures, and lay down rules for administrative penalties and remedial measures. Administrative penalty and remedial measures may range from requiring a cessation of activities in breach of the regulation, pecuniary measures for continued compliance, access to telecommunications records in support of an investigation, and public notices and statements. In cases involving legal persons, such penalties and measures may extend to members of the management body and other relevant individuals under national law. All decisions imposed are to be properly reasoned and allow for a right of appeal.-
The powers referred to in paragraph 1 shall include at least the following powers to:
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carry out on-site inspections or investigations, which shall include but shall not be limited to;
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Without prejudice to the right of Member States to impose criminal penalties in accordance with Article 52, Member States shall lay down rules establishing appropriate administrative penalties and remedial measures for breaches of this Regulation and shall ensure their effective implementation.
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Member States shall confer on competent authoritiesas defined in Article 46 the power to apply at least the following administrative penalties or remedial measures for breaches of this Regulation:
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Where paragraph 2, point (c), and paragraph 4 apply to legal persons, Member States shall confer on competent authoritiesas defined in Article 46 the power to apply the administrative penalties and remedial measures, subject to the conditions provided for in national law, to members of the management bodya management body as defined in Article 4(1), point (36), of Directive 2014/65/EU, Article 3(1), point (7), of Directive 2013/36/EU, Article 2(1), point (s), of Directive 2009/65/EC of the European Parliament and of the Council, Article 2(1), point (45), of Regulation (EU) No 909/2014, Article 3(1), point (20), of Regulation (EU) 2016/1011, and in the relevant provision of the Regulation on markets in crypto-assets, or the equivalent persons who effectively run the entity or have key functions in accordance with relevant Union or national law, and to other individuals who under national law are responsible for the breach.
management body Paragraph has special considerations for 'management body' as defined by Article 3 point 30. -
Member States shall ensure that any decision imposing administrative penalties or remedial measures set out in paragraph 2, point (c), is properly reasoned and is subject to a right of appeal.