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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 18 October 2021 - onwards
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Regulation 24 Sanctions that may be imposed by Bank

(1) In the case of an adverse assessment, the Bank may impose on the assessee concerned the following sanctions:

(a) an order requiring the person responsible for the prescribed contravention to cease the conduct and to desist from a repetition of that conduct;

(b) a public statement which indicates the identity of the person responsible and the nature of the prescribed contravention in accordance with Article 37 of the Securitisation Regulation;

(c) a temporary ban preventing any member of the originator's, sponsor's or SSPE's management body, or any natural person who is held responsible for such a prescribed contravention, from exercising management functions in such undertakings;

(d) where the prescribed contravention is a contravention referred to in point (e) or (f), as the case may be, of the first subparagraph of Article 32.1 of the Securitisation Regulation, a temporary ban preventing the originator and sponsor from notifying under Article 27.1 of the Securitisation Regulation

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