Article 33 Sanctions

1.   In the case of an infringement of this Regulation, the ECB may impose sanctions on the SIPS operator. Where the SIPS operator is a branch, the sanctions shall be imposed on the branch.

2.   Sanctions imposed pursuant to paragraph 1 shall be in accordance with Regulation (EC) No 2532/98 and Regulation (EC) No 2157/99 of the European Central Bank (ECB/1999/4) (17). The amount of the sanctions shall be calculated in accordance with Decision (EU) 2017/2097 of the European Central Bank (ECB/2017/35) (18).