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Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012

article  33

CELEX:  02017R2402-20210409

Exercise of the power to impose administrative sanctions and remedial measures
1. Competent authorities shall exercise the powers to impose administrative sanctions and remedial measures referred to in Article 32 in accordance with their national legal frameworks, as appropriate:
(a) directly;
(b) in collaboration with other authorities;
(c) under their responsibility by delegation to other authorities;
(d) by application to the competent judicial authorities.
Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012

article  33

CELEX:  02017R2402-20210409

2. Competent authorities, when determining the type and level of an administrative sanction or remedial measure imposed under Article 32, shall take into account the extent to which the infringement is intentional or results from negligence and all other relevant circumstances, including, where appropriate:
(a) the materiality, gravity and the duration of the infringement;
(b) the degree of responsibility of the natural or legal person responsible for the infringement;
(c) the financial strength of the responsible natural or legal person;
(d) the importance of profits gained or losses avoided by the responsible natural or legal person, insofar as they can be determined;
(e) the losses for third parties caused by the infringement, insofar as they can be determined;
(f) the level of cooperation of the responsible natural or legal person with the competent authority, without prejudice to the need to ensure disgorgement of profits gained or losses avoided by that person;
(g) previous infringements by the responsible natural or legal person.