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---
title: "Article 25n — Review by the Court of Justice"
type: regulation
legal_status: in_force
source: "https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117"
source_retrieved: 2026-10-11
shortTitle: "Article 25n — Review by the Court of Justice"
instrument_type: level1_regulation
authority: Commission
binding: true
binding_character: binding
mica_level2: false
legal_basis: "Regulation (EU) No 648/2012"
instrument: emir
celex: "32012R0648"
regulation: EMIR
regulation-full: "Regulation (EU) No 648/2012"
article: 25n
status: in_force
object_id: eu.emir.legal_text.article.25n
text_version: "Consolidated version of 17 January 2025"
source_url: "https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117"
check_status: matched
verified: true
last_checked: 2026-11-09
---

*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)*

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.

***

[Title III — Authorisation and supervision of CCPs](../titles/iii.md) · [← Article 25m](25m.md) · [Article 25o →](25o.md)