--- title: "Article 25q — Supervisory measures by ESMA" 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 25q — Supervisory measures by ESMA" 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: 25q status: in_force object_id: eu.emir.legal_text.article.25q 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)* 1. Where, in accordance with [Article 25i(5)](25i.md), ESMA finds that a Tier 2 CCP has committed one of the infringements listed in Annex III, it shall take one or more of the following decisions: **(a)** require the CCP to bring the infringement to an end; **(b)** impose fines under [Article 25j](25j.md); **(c)** issue public notices; **(d)** withdraw the recognition of the CCP, or its recognition for a particular service, activity or class of financial instruments, under [Article 25p](25p.md). 2. When taking the decisions referred to in paragraph 1, ESMA shall take into account the nature and seriousness of the infringement, having regard to the following criteria: **(a)** the duration and frequency of the infringement; **(b)** whether the infringement has revealed serious or systemic weaknesses in the CCP's procedures or in its management systems or internal controls; **(c)** whether financial crime has been occasioned, facilitated or otherwise attributable to the infringement; **(d)** whether the infringement has been committed intentionally or negligently. 3. Without undue delay, ESMA shall notify any decision adopted pursuant to paragraph 1 to the CCP concerned, and shall communicate it to the relevant third-country competent authorities and to the Commission. It shall publicly disclose any such decision on its website within 10 working days of the date when it was adopted. When making public its decision as referred to in the first subparagraph, ESMA shall also make public the right of the CCP concerned to appeal the decision, the fact, where relevant, that such an appeal has been lodged, specifying that such an appeal does not have suspensive effect, and the fact that it is possible for ESMA's Board of Appeal to suspend the application of the contested decision in accordance with Article 60(3) of Regulation (EU) No 1095/2010. *** [Title III — Authorisation and supervision of CCPs](../titles/iii.md) · [← Article 25p](25p.md) · [Article 26 →](26.md)