european central bank regul ec septemb power european central bank impos sanction ecb govern council european central bank regard treati establish european commun hereinaft refer treati articl thereof statut european system central bank european central bank hereinaft refer statut articl thereof council regul ec novemb power european central bank impos sanction hereinaft refer council regul articl thereof articl statut conjunct articl statut paragraph protocol provis relat unit kingdom great britain northern ireland paragraph protocol provis relat denmark regul confer right impos oblig particip member state council regul establish limit condit european central bank ecb entitl impos fine period penalti payment undertak failur compli oblig regul decis articl council regul ecb regulatori power arrang sanction impos accord council regul council ecb regul provid specif sanction specif field refer regul principl procedur relat imposit sanction carri procedur determin applic sanction ecb ensur widest respect right defenc parti accord gener principl law case law court justic european commun matter exist case law inquiri power european commiss field competit legal obstacl exchang inform european system central bank escb relat detect infring ecb regul decis principl ne bi idem respect initi infring procedur rule govern power ecb compet nation central bank framework infring procedur ensur effect conduct investig alleg infring time provid high level protect right defenc undertak concern confidenti infring procedur assist author member state requir ensur effect exercis power ecb compet nation central bank carri infring procedur undertak concern heard inquiri stage infring procedur complet receiv factual result inquiri notic object infring procedur carri subject principl confidenti profession secreci confidenti profession secreci affect right defenc undertak concern decis infring subject review govern council ecb procedur condit review place establish purpos enhanc transpar effect power impos sanction ecb decid publish final decis sanction inform relat thereto view specif featur financi market public decis impos sanction except measur ecb due consider circumst specif case effect decis reput undertak concern legitim busi interest decis publish respect principl discrimin guarante level plai field context consult relev supervisori author prior take decis publish desir public decis impos sanction event disclos inform confidenti natur decis impos pecuniari oblig enforc accord articl treati nation central bank deleg adopt measur end sake sound effici administr appear provid simplifi infring procedur penalis minor infring regul appli case complianc foreseen articl council regul ec novemb applic minimum reserv european central bank hereinaft refer council regul minimum reserv limit condit set articl featur case complianc minimum reserv requir laid articl council regul minimum reserv warrant adopt specif legal regim expediti procedur imposit sanction time violat right defenc undertak concern ecb act accord council regul regul exercis power laid articl council regul ec novemb collect statist inform european central bank adopt regul articl definit purpos regul term quot compet nation central bank quot nation central bank member state jurisdict alleg infring occur term mean defin articl council regul articl initi infring procedur infring procedur initi undertak base fact purpos decis initi infring procedur execut board ecb compet nation central bank inform consult prior decis initi infring procedur ecb compet nation central bank request undertak concern inform relat alleg infring execut board ecb compet nation central bank case request entitl assist cooper carri infring procedur transmit inform deem relev agre parti concern commun ecb compet nation central bank case undertak concern conduct offici commun languag offici commun languag member state jurisdict alleg infring occur articl power ecb compet nation central bank power confer council regul ecb compet nation central bank carri inquiri includ purpos obtain inform relat alleg infring search item inform conduct search prior notif undertak concern staff ecb compet nation central bank case authoris accord respect intern rule search inform premis undertak concern exercis power product formal authoris write issu accord respect intern rule request made undertak concern basi power confer ecb compet nation central bank case subject matter purpos investig articl assist author member state assist author member state request ecb compet nation central bank case precautionari measur author member state act substitut ecb compet nation central bank case assess investig articl notic object ecb compet nation central bank case notifi undertak concern write factual result inquiri carri object rais undertak concern decis imposit sanction ecb compet nation central bank case give notic object fix time limit undertak concern inform write ecb compet nation central bank case view object rais prejudic possibl develop view oral hear request written comment time limit work dai start run receipt notif refer paragraph respons receiv undertak concern ecb compet nation central bank case decid carri inquiri order resolv outstand issu addit notic object pursuant paragraph undertak concern result inquiri conduct ecb compet nation central bank case fact account undertak concern alter evid contest infring ecb decis impos sanction deal object notifi manner outlin paragraph respect undertak concern afford opportun make view articl right oblig undertak concern undertak concern cooper ecb compet nation central bank case inquiri stage infring procedur undertak concern submit document book record copi extract thereof provid written oral explan obstruct complianc perform undertak concern duti impos ecb compet nation central bank case exercis power infring procedur provid suffici ground initi infring procedur term regul give rise imposit period penalti payment undertak concern legal represent infring procedur notifi accord articl undertak concern access document materi compil ecb compet nation central bank case serv basi evid alleg infring undertak concern request written comment heard oral hear conduct date set person appoint purpos ecb compet nation central bank case oral hear place premis ecb compet nation central bank oral hear public person heard separ presenc person call attend undertak concern propos reason limit ecb compet nation central bank case hear person corrobor aspect written comment essenti content statement made person heard record minut read approv person relat statement inform request attend oral hear ecb compet nation central bank case addresse regist post acknowledg receipt deliv hand receipt articl confidenti infring procedur infring procedur carri subject principl confidenti profession secreci prejudic articl undertak concern access document materi possess ecb compet nation central bank deem confidenti relat parti ecb compet nation central bank includ document materi inform relat busi interest undertak intern document ecb compet nation central bank commun institut bodi nation central bank note draft work paper articl review decis govern council ecb govern council ecb request undertak concern execut board ecb compet nation central bank provid addit inform order review decis execut board ecb govern council ecb fix time limit inform provid fewer work dai articl enforc decis decis imposit sanction final govern council ecb consult relev nation supervisori author decid publish decis inform relat thereto offici journal european commun decis publish regard legitim interest undertak concern protect busi interest individu interest decis ecb establish manner payment sanction made ecb request nation central bank member state jurisdict sanction enforc adopt measur end nation central bank report ecb enforc sanction ecb store inform relev determin enforc sanction file year date decis imposit sanction final order ecb fulfil duti compet nation central bank forward ecb origin document materi possess relat infring procedur articl simplifi procedur minor infring event minor infring execut board ecb decid appli simplifi infring procedur sanction impos procedur exce eur simplifi procedur entail step execut board ecb notifi undertak concern alleg infring notif fact constitut evid alleg infring sanction notif inform undertak concern fact simplifi procedur appli object procedur work dai receipt notif object rais deadlin laid infring procedur deem initi time limit work dai exercis heard start expiri deadlin laid object rais deadlin laid decis execut board ecb imposit sanction final articl prejudic procedur applic event complianc minimum reserv requir laid articl regul articl procedur event complianc minimum reserv requir event complianc foreseen articl council regul minimum reserv articl articl articl except paragraph regul applic time limit foreseen articl reduc work dai execut board ecb publicis criteria appli sanction provid articl council regul minimum reserv criteria publish notic offici journal european commun sanction impos accord articl council regul minimum reserv execut board ecb behalf compet nation central bank notifi undertak concern alleg complianc sanction notif relev fact alleg complianc inform undertak concern submit object sanction deem impos decis execut board ecb receipt notif undertak concern work dai acknowledg alleg complianc agre payment sanction case infring procedur deem end present written inform explan object deem relev decis impos sanction undertak concern attach relev document proof content repli compet nation central bank undu delai forward file execut board ecb decid impos sanction written object rais undertak concern establish time limit sanction deem impos decis execut board ecb decis final accord provis council regul undertak concern charg amount sanction notif situat foreseen paragraph indent paragraph ecb compet nation central bank behalf ecb case give notif write relev supervisori author articl time limit prejudic articl council regul time limit foreseen regul run dai receipt commun deliveri thereof hand commun undertak concern receiv addresse dispatch regist post relev time limit expir time limit expir saturdai sundai public holidai extend end work dai purpos regul relev public holidai ecb set annex regul public holidai relev nation central bank establish law respect area member state undertak concern locat term quot work dai quot constru ecb updat annex regul frankfurt main septemb behalf govern council ecb presid willem duisenberg oj oj oj annex indic list public holidai refer paragraph articl gt tabl gt