1.Without prejudice to the supervisory powers of competent authorities referred to in Article 64 of this Directive and the right of Member States to provide for and impose criminal penalties, Member States shall lay down rules on administrative penalties, periodic penalty payments and other administrative measures in respect of breaches of national provisions transposing this Directive, of Regulation (EU) No 575/2013 and of decisions taken by a competent authority on the basis of those provisions or that Regulation, and shall take all measures necessary to ensure that they are implemented. The administrative penalties, periodic penalty payments and other administrative measures shall be effective, proportionate and dissuasive.
2.Member States shall ensure that where the obligations referred to in paragraph 1 of this Article apply to institutions, financial holding companies and mixed financial holding companies, competent authorities may, in the event of a breach of national provision
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