For what purpose is the daily fine assessed for untimely filing related to financial interests?

The daily fine assessed for untimely filing related to financial interests is primarily aimed at encouraging compliance. This approach serves as a proactive measure to ensure that individuals adhere to deadlines and maintain transparency regarding their financial interests. By imposing a daily fine, the regulatory body emphasizes the importance of timely reporting and compliance, motivating individuals to fulfill their obligations promptly. This system not only promotes accountability but also helps uphold the integrity of the regulatory framework surrounding financial disclosures, highlighting that adherence to these requirements is essential for ethical practice within the industry.