{"release":{"id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","published":"2026-11-10T16:06:46Z","pinned":false},"limits":{"coverage":{"history":"full","held_since":"2012-07-27","gaps":[],"covered":["EMIR L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","release_published":"2026-11-10T16:06:46Z","checked_at":"2026-11-09","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/articles/25n","url":"https://www.headlesslaw.com/emir/articles/25n","title":"Article 25n — Review by the Court of Justice","family":"l1_generated","work_id":"emir","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-11","applies_from":null,"application":null,"version_label":"Consolidated version of 12 August 2022","check":{"against":"EUR-Lex","on":"2026-11-09"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117","valid_from":"2022-08-12","valid_until":null,"revision":1,"content_id":"34aaff442e914784","change_date":null,"nearest_versions":["2020-01-01","2022-08-12"],"first_text_date":"2012-07-04","correction_applies":false,"versions":["2020-01-01","2022-08-12"],"version_url":"https://www.headlesslaw.com/emir/articles/25n/versions/2022-08-12","revision_url":"https://www.headlesslaw.com/emir/articles/25n/versions/2022-08-12/rev/34aaff442e914784","versions_url":"https://www.headlesslaw.com/emir/articles/25n/versions","relations_url":"https://www.headlesslaw.com/emir/articles/25n/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117","check":{"result":"matched","checked_at":"2026-11-09","against":"EUR-Lex"},"repo_path":null,"body_sha256":"f489f5201803593ad2df0920328313edba9e95fa37cecfbce51e83b83009ac5e","markdown_sha256":"d3b5e55e737429e4580382a0d8d75a55bd75bc4ff83409df225c9bedeed7f6ff"},"units":[{"locator":"emir/art/25n","kind":"article","status":"in_force","label":null,"heading":"Review by the Court of Justice","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"emir/art/25n/subpara/1","kind":"subparagraph","status":"in_force","label":null,"heading":null,"text":"The Court of Justice shall have unlimited jurisdiction to review decisions whereby ESMA has imposed a fine or a periodic penalty payment. It may annul, reduce or increase the fine or periodic penalty payment imposed.","marks":[],"revision":1,"text_hash":"b39c9f4f810ac1ab21f421f81eae300594201241169c72b9535cd5f4176048d9","reason":null}],"markdown":"*In force · Consolidated version of 17 January 2025 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117)*\n\nThe Court of Justice shall have unlimited jurisdiction to review decisions whereby ESMA has imposed a fine or a periodic penalty payment. It may annul, reduce or increase the fine or periodic penalty payment imposed.\n\n***\n\n[Title III — Authorisation and supervision of CCPs](../titles/iii.md) · [← Article 25m](25m.md) · [Article 25o →](25o.md)\n"}