Chapter VII – Competent authorities (Art. 46-56)
Art. 46 DORA - Competent authorities
Art. 47 DORA - Cooperation with structures and authorities established by Directive (EU) 2022/2555
Art. 48 DORA - Cooperation between authorities
Art. 49 DORA - Financial cross-sector exercises, communication and cooperation
Art. 50 DORA - Administrative penalties and remedial measures
- Competent authorities shall have all supervisory, investigatory and sanctioning powers necessary to fulfil their duties under this Regulation.
- The powers referred to in paragraph 1 shall include at least the following powers to:
- have access to any document or data held in any form that the competent authority considers relevant for the performance of its duties and receive or take a copy of it;
- carry out on-site inspections or investigations, which shall include but shall not be limited to;
- summoning representatives of the financial entities for oral or written explanations on facts or documents relating to the subject matter and purpose of the investigation and to record the answers;
- interviewing any other natural or legal person who consents to be interviewed for the purpose of collecting information relating to the subject matter of an investigation;
- require corrective and remedial measures for breaches of the requirements of this Regulation.
- Without prejudice to the right of Member States to impose criminal penalties in accordance with Article 52, Member States shall lay down rules establishing appropriate administrative penalties and remedial measures for breaches of this Regulation and shall ensure their effective implementation.
Those penalties and measures shall be effective, proportionate and dissuasive.
- Member States shall confer on competent authorities the power to apply at least the following administrative penalties or remedial measures for breaches of this Regulation:
- issue an order requiring the natural or legal person to cease conduct that is in breach of this Regulation and to desist from a repetition of that conduct;
- require the temporary or permanent cessation of any practice or conduct that the competent authority considers to be contrary to the provisions of this Regulation and prevent repetition of that practice or conduct;
- adopt any type of measure, including of pecuniary nature, to ensure that financial entities continue to comply with legal requirements;
- require, insofar as permitted by national law, existing data traffic records held by a telecommunication operator, where there is a reasonable suspicion of a breach of this Regulation and where such records may be relevant to an investigation into breaches of this Regulation; and
- issue public notices, including public statements indicating the identity of the natural or legal person and the nature of the breach.
- Where paragraph 2, point (c), and paragraph 4 apply to legal persons, Member States shall confer on competent authorities the power to apply the administrative penalties and remedial measures, subject to the conditions provided for in national law, to members of the management body, and to other individuals who under national law are responsible for the breach.
- Member States shall ensure that any decision imposing administrative penalties or remedial measures set out in paragraph 2, point (c), is properly reasoned and is subject to a right of appeal.