Article 57 Periodic penalty payments

Member States shall ensure that, where obliged entitiesmeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; fail to comply with administrative measures applied by the supervisormeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; pursuant to Article 56(2), points (b), (d), (e) and (g), within the applicable deadlines, supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; are able to impose periodic penalty payments in order to compel compliance with those administrative measures.

The periodic penalty payments shall be effective and proportionate. The periodic penalty payments shall be imposed until the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; or person concerned complies with the relevant administrative measures.

Notwithstanding paragraph 2, in the case of legal persons, the amount of the periodic penalty payment shall not exceed 3 % of their average daily turnover in the preceding business year or, in the case of natural persons, that amount shall not exceed 2 % of their average daily income in the preceding calendar year.

Periodic penalty payments shall only be imposed for a period of no more than 6 months following the supervisormeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620;’s decision. Where, upon expiry of that period, the obliged entitymeans a natural or legal person listed in Article 3 of Regulation (EU) 2024/1624 that is not exempted in accordance with Article 4, 5, 6 or 7 of that Regulation; has not yet complied with the administrative measure, Member States shall ensure that supervisorsmeans the body entrusted with responsibilities aimed at ensuring compliance by obliged entities with the requirements of this Regulation, including AMLA when performing the tasks entrusted to it in Article 5(2) of Regulation (EU) 2024/1620; can impose periodic penalty payments for an additional period of no more than 6 months.

Member States shall ensure that a decision imposing a periodic penalty payment can be taken as of the date of the application of the administrative measure.

The periodic penalty payment shall apply as of the date when that decision is taken.