Administrative penalties, periodic penalty payments and other administrative measures for breaches of authorisation requirements and requirements for acquisitions or divestiture of material holdings, material transfers of assets and liabilities, mergers or divisions

activities as a credit institution are commenced without obtaining prior authorisation in breach of Article 8 of this Directive;

at least one of the activities referred to in Article 4(1), point (1)(b), of Regulation (EU) No 575/2013 is carried out by an entity that meets the threshold indicated in that point and that is not authorised as a credit institution, except for entities requesting the waiver under Article 8a of this Directive;

the business of taking deposits or other repayable funds from the public is conducted without being authorised as a credit institution in breach of Article 9 of this Directive;

a qualifying holding in a credit institution is acquired, directly or indirectly, or further increased, directly or indirectly, such that the proportion of the voting rights or of the capital held would reach or exceed the thresholds referred to in Article 22(1) of this Directive or the credit institution would become the subsidiary of the acquirer, without notifying in writing the competent authorities of the credit institution in relation to which the acquirer seeks to acquire or increase the qualifying holding, during the assessment period, or against the opposition of the competent authorities, in breach of that Article;

a qualifying holding in a credit institution is disposed of, directly or indirectly, or reduced as a result of which the proportion of the voting rights or of the capital held would fall below the thresholds referred to in Article 25 of this Directive or the credit institution would cease to be a subsidiary of the legal person disposing of the qualifying holding, without notifying in writing the competent authorities, in breach of that Article;

a financial holding company or mixed financial holding company within the scope of Article 21a(1) of this Directive fails to apply for approval in breach of that Article or breaches any other requirement set out in that Article;

a proposed acquirer within the meaning of Article 27a(1) of this Directive fails to notify the relevant competent authority of a direct or indirect acquisition of a material holding, in breach of that Article;

any of the entities referred to in Article 27d of this Directive fails to notify the relevant competent authority of a direct or indirect disposal of a material holding that exceeds 15 % of the eligible capital of that entity;

any of the entities referred to in Article 27f(1) of this Directive executes a material transfer of assets and liabilities without notifying the competent authorities, in breach of that Article;

any of the entities referred to in Article 27i(1) of this Directive carries out a merger or division in breach of that Article.

administrative penalties:

periodic penalty payments:

other administrative measures:

For the purposes of the first subparagraph, point (b), Member States may set a higher maximum amount for periodic penalty payments to be applied per day of breach.

By way of derogation from the first subparagraph, point (b), Member States may apply periodic penalty payments on a weekly or monthly basis. In that case, the maximum amount of periodic penalty payments to be applied for the relevant weekly or monthly period when a breach takes place shall not exceed the maximum amount of periodic penalty payments that would apply on a daily basis in accordance with that point for the relevant period.

Periodic penalty payments may be imposed on a given date and start applying at a later date.

interest income;

interest expenses;

expenses on share capital repayable on demand;

dividend income;

fee and commission income;

fee and commission expenses;

gains or losses on financial assets and liabilities held for trading, net;

gains or losses on financial assets and liabilities designated at fair value through profit or loss, net;

gains or losses from hedge accounting, net;

exchange differences (gain or loss), net;

other operating income;

other operating expenses.

For the purposes of this Article, the basis for the calculation shall be the most recent yearly supervisory financial information which produces an indicator above zero. Where the legal person referred to in paragraph 2 of this Article is not subject to Implementing Regulation (EU) 2021/451, the relevant total annual net turnover shall be the total annual net turnover or the corresponding type of income in accordance with the applicable accounting framework. Where the undertaking concerned is part of a group, the relevant total annual net turnover shall be the total annual net turnover resulting from the consolidated account of the ultimate parent undertaking.