Regulation (EU) 2023/1092 of the European Central Bank of 25 May 2023 amending Regulation (EC) No 2157/1999 on the powers of the European Central Bank to impose sanctions (ECB/1999/4) (ECB/2023/13)

New Regulation (EU) 2023/1092 of the European Central Bank as regards the disclosure and publication of penalties imposed on supervised financial institutions was published in the Official Journal (OJ) of the EU. The regulation modifies European Central Bank Regulation (EC) No 2157/1999 setting out a framework for imposing such penalties to specify
1. that any imposed penalty and decision thereto based on violations of ECB regulations shall now be disclosed to the public on the ECB’s official website (before, the ECB could, but wasn’t required to disclose such information);
2. that the ECB may refrain from publishing specific details in the case where such publication could endanger financial market stability, the financial system, an ongoing criminal investigation, or cause excessive harm to the affected entity. In such case, the decision and potential penalties must be disclosed in an anonymous manner or may be postponed to some later day;
3. that the Executive Board of the ECB as well as national competent central banks shall now consider and make proposals as to whether or not detailed publications of the penalty and corresponding decision shall be made or whether or not any exemptions apply as stipulated in (2).
As the European Central Bank states, the purpose of the new regulation is to keep the public informed about current penalty decisions of the ECB AND to deter fraudulent behavior and activities of supervised institutions.