TITLE VIAUTHORISATION, REGISTRATION AND SUPERVISION OF ADMINISTRATORS

CHAPTER 3Role of competent authorities

Article 43Exercise of supervisory powers and imposition of sanctions

1

Member States shall ensure that, when determining the type and level of administrative sanctions and other administrative measures, competent authorities take into account all relevant circumstances, including where appropriate:

a

the gravity and duration of the infringement;

b

the criticality of the benchmark to financial stability and the real economy;

c

the degree of responsibility of the responsible person;

d

the financial strength of the responsible person, as indicated, in particular, by the total annual turnover of the responsible legal person or the annual income of the responsible natural person;

e

the level of the profits gained or losses avoided by the responsible person, insofar as they can be determined;

f

the level of cooperation of the responsible 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 person concerned;

h

measures taken, after the infringement, by a responsible person to prevent the repetition of the infringement.

2

In the exercise of their powers to impose administrative sanctions and other administrative measures under Article 42, competent authorities shall cooperate closely to ensure that the supervisory and investigative powers and administrative sanctions and other administrative measures produce the desired results of this Regulation. They shall also coordinate their action in order to avoid possible duplication and overlap when applying supervisory and investigative powers and administrative sanctions, including pecuniary sanctions, and other administrative measures to cross-border cases.