> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/emir/articles/66.md).

# Article 66 — Periodic penalty payments

*In force · Consolidated version of 17 January 2025 · Checked against EUR-Lex on 11 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117)

1. ESMA shall, by decision, impose periodic penalty payments in order to compel:

   **(a)** a trade repository to put an end to an infringement in accordance with a decision taken pursuant to [Article 73(1)](/emir/articles/73.md)(a); or

   **(b)** a person referred to in [Article 61(1)](/emir/articles/61.md):

   **(i)** to supply complete information which has been requested by a decision pursuant to [Article 61](/emir/articles/61.md);

   **(ii)** to submit to an investigation and in particular to produce complete records, data, procedures or any other material required and to complete and correct other information provided in an investigation launched by a decision pursuant to [Article 62](/emir/articles/62.md); or

   **(iii)** to submit to an on-site inspection ordered by a decision taken pursuant to [Article 63](/emir/articles/63.md).
2. A periodic penalty payment shall be effective and proportionate. The periodic penalty payment shall be imposed for each day of delay.
3. Notwithstanding paragraph 2, the amount of the periodic penalty payments shall be 3 % of the average daily turnover in the preceding business year, or, in the case of natural persons, 2 % of the average daily income in the preceding calendar year. It shall be calculated from the date stipulated in the decision imposing the periodic penalty payment.
4. A periodic penalty payment shall be imposed for a maximum period of six months following the notification of ESMA’s decision. Following the end of the period, ESMA shall review the measure.

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[Title VI — Registration and supervision of trade repositories](/emir/titles/vi.md) · [← Article 65](/emir/articles/65.md) · [Article 67 →](/emir/articles/67.md)