The MAXIMUM fine which the Central Bank can impose personally on Mary, the CEO of a bank, for non-compliance by the bank with financial services regulations is:

• A. €0.5 million.
• B. €2 million.
• C. €1 million.
• D. €5 million.

Answer: (C)

Senior executives can be personally fined by the Central Bank for breaches by their bank, but there is a strict cap on such penalties. For an individual like the CEO, the maximum personal fine you’d face is €1 million. This limit keeps penalties proportionate to the wrongdoing while still holding top leaders accountable for their institution’s compliance failures. Fines against the bank itself can be much higher, and other sanctions (like fitness and probity actions) may apply as well. The €1 million figure is the personal cap, so the other amounts don’t fit the rule for personal penalties.