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Version status: Amended
Version date: 15 May 2024 - onwards
  Version 2 of 2    

Article 27 Procedural rules for taking supervisory measures and imposing pecuniary sanctions and periodic penalty payments

1. Where, in carrying out its duties under this Regulation, the Authority finds that there are serious indications of the possible existence of facts liable to constitute one or more of the breaches listed in Annex II, the Authority shall appoint an independent investigatory team within the Authority to investigate the matter. The investigatory team shall not be involved or have been involved in the direct supervision of the selected obliged entity concerned and shall perform its functions independently from the Executive Board. The Authority shall develop internal procedures to determine the rules governing the selection of the members of the independent investigatory team, in particular with regard to the knowledge, background, expertise and experience of those members.

2. The investigatory team shall investigate the alleged breaches, taking into account any comments submitted by the persons subject to investigation, and shall submit a complete file with its findings to the Executive

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