Remedial plan

1. Following the provision of a warning of an alleged infringement in accordance with Article 6(1), and once the threshold for a cumulative alleged infringement referred to in Article 8(2) has been reached, the competent Eurosystem central bank shall notify the reporting agent concerned that it may submit a remedial plan.

2. Within 60 calendar days of the notification referred to in paragraph 1, the competent Eurosystem central bank may endorse a remedial plan submitted by a reporting agent in accordance with this Article.

3. This Article shall not apply in either of the following cases:

serious misconduct referred to in Article 5(2); or

an alleged infringement of the statistical reporting requirements set out in Regulation (EU) No 1333/2014 (ECB/2014/48).

4. A remedial plan shall be prepared by the reporting agent and shall at least:

state the reasons for the alleged infringement;

set out the corrective measures to be taken by the reporting agent, including a provision to submit the correct or missing statistical information without delay;

include a timetable for the implementation of the measures referred to in point (b); and

include the details of the responsible contact person(s).

5. The competent Eurosystem central bank shall assess a remedial plan submitted pursuant to paragraph 4 without delay and in any case within 12 calendar days from the date of such submission, and, where applicable, having due regard to any comments provided by the ECB in accordance with paragraph 7, it shall either:

endorse the plan and set a final deadline of not more than 60 calendar days for the overall implementation of that plan from the date of its endorsement; or

where the plan is not sufficient to remedy the alleged infringement, request that the reporting agent prepares and submits a revised remedial plan within 10 calendar days from the date of such request.

6. Where a revised remedial plan is submitted within the deadline set out in paragraph 5, point (b), the competent Eurosystem central bank shall assess it without delay and in any case within 8 calendar days from the date of such submission, and, where applicable, having due regard to any comments provided by the ECB in accordance with paragraph 7, it shall either:

endorse the revised remedial plan and set a final deadline of not more than 42 calendar days for the overall implementation of that plan from the date of its endorsement; or

where the revised remedial plan is not sufficient to remedy the alleged infringement, reject it and initiate an infringement procedure in accordance with Article 8.

7. A competent NCB shall submit any remedial plan or any revised remedial plan it receives pursuant to this Article to the ECB without delay. Where the ECB considers that the plan is not sufficient to remedy the alleged infringement, the following shall apply:

in the case of a remedial plan as referred to in paragraph 5, the competent NCB shall request that the reporting agent prepare and submit a revised remedial plan within 10 calendar days from the date of such request; and

in the case of a revised remedial plan as referred to in paragraph 6, the competent NCB shall reject it and initiate an infringement procedure in accordance with Article 8.

8. Where a competent Eurosystem central bank endorses a remedial plan pursuant to paragraph 5 or 6, it shall monitor the implementation of that plan and verify whether the corrective measures therein have been applied effectively and without delay.

9. A competent Eurosystem central bank may extend the deadline for the implementation of a remedial plan endorsed pursuant to paragraph 5 or 6 once, in exceptional circumstances and provided that the reporting agent demonstrates that the remedial plan is being implemented effectively. Any extension shall be limited to the period that the competent Eurosystem central bank considers necessary for the reporting agent to implement the remedial plan, and in any event no longer than 30 calendar days from the expiry of the final deadline referred to in paragraph 5 or 6, as applicable.

10. Competent NCBs and the ECB shall notify each other of any remedial plan agreed with a reporting agent as soon as such a plan is endorsed and keep each other informed as to each plan’s implementation.

11. Where a remedial plan is endorsed and implemented pursuant to this Article, the competent Eurosystem central bank shall not initiate an infringement procedure pursuant to Article 8 in relation to the same alleged infringement by the same reporting agent before the final deadline referred to in paragraph 5 or 6, as applicable, has expired, subject to any extension granted pursuant to paragraph 9.

12. Where a reporting agent fails to comply with a deadline as referred to in paragraph 5 or 6, or any extended deadline granted under paragraph 9, or where the alleged infringement is not remedied by the final deadline referred to in paragraph 5 or 6 or any extended deadline granted under paragraph 9 as applicable, the competent Eurosystem central bank shall initiate an infringement procedure in accordance with Article 8.

13. Notwithstanding paragraphs 1 to 12, competent Eurosystem central banks shall continue to monitor the one or more alleged infringements which are the subject of a remedial plan and compliance by the reporting agents with statistical reporting requirements, and continue to record and report any alleged infringements in accordance with Articles 3 and 5.

REGULATION (EU) 2022/1917 OF THE EUROPEAN CENTRAL BANK of 29 September 2022 on infringement procedures in cases of non-compliance with statistical reporting requirements and repealing Decision ECB/2010/10