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🔗 Back to Summary. 🇫🇷 French Version: 2018R1229_FR.18. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 17 – Collection and distribution of cash penalties ⬅️ | ➡️ Article 19 – Penalty mechanism for settlement fails relating to cleared transactions submitted by CCPs for settlement
Article 18 - Costs of the penalty mechanism
1.
CSDs shall not use cash penalties to cover costs related to the penalty mechanism.
2.
CSDs shall disclose, in detail, the amount of the costs referred to in paragraph 1 to participants.
3.
CSDs shall charge participants separately for the costs of the penalty mechanism. Those costs shall not be charged on the basis of gross penalties applied to each participant.