# Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline (Text with EEA relevance), Article 19: Penalty mechanism where the participant is a CCP

Extent: E+W+S+N.I.

Where the failing or the receiving participant is a CCP, CSDs shall ensure the following:
(a) that CCPs are provided with the calculation of the cash penalties for the failed settlement instructions submitted by those CCPs;
(b) that CCPs collect the cash penalties referred to in point (a) from the clearing members that caused the settlement fails;
(c) that CCPs distributes the cash penalties referred to in point (b) to the clearing members that are affected by the settlement fails;
(d) that CCPs report to the CSD on the penalties that they have collected and distributed, on a monthly basis.

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Source: https://www.legislation.gov.uk/eur/2018/1229/article/19 (the official version)
Page: https://openlegislation.uk/eu-regulation-2018-1229/article-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.