United Kingdom (and EU regulation)

Commission Delegated Regulation amending Commission Delegated Regulation (EU) No 667/2014 with regard to the content of the file to be submitted by the investigation officer to ESMA, the right to be heard with regard to interim decisions and the lodging of fines and periodic penalty payments

In order to adapt the existing rule of procedures to take into account changes introduced by EMIR REFIT, the European Commission has adopted a Delegated Regulation that amends Delegated Regulation (EU) No 667/2014 on the rules of procedures for penalties imposed on trade repositories by the European Securities and Markets Authority (ESMA) as foreseen in Article 65(7) of the European Markets Infrastructure Regulation.

Article 1 sets out the following changes to Delegated Regulation (EU) No 667/2014:

The complete file to be submitted to ESMA by the investigation officer, including his or her statement of findings and a copy of the statement of findings on the basis of which the person subject to investigation has been heard.
The procedure framing the right to be heard by ESMA in the case of interim decisions.
Where multiple fines or periodic penalty payments are collected by ESMA in parallel, the accounting officer of ESMA shall ensure that they are lodged to different accounts or sub-accounts.

Article 2 sets out the date of entry into force of the Delegated Regulation. It enters into force on the day following that of its publication in the Official Journal of the European Union.