Article 73 — Supervisory measures by ESMA

Financial servicesLevel 1RegulationEMIRIn forceVerifiedOfficial source

1.Where, in accordance with Article 64(5), ESMA finds that a trade repository has committed one of the infringements listed in Annex I, it shall take one or more of the following decisions:

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73(1)(a)

(a)requiring the trade repository to bring the infringement to an end;

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73(1)(b)

(b)imposing fines under Article 65;

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73(1)(c)

(c)issuing public notices;

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73(1)(d)

(d)as a last resort, withdrawing the registration of the trade repository.

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73(2)

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:

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73(2)(a)

(a)the duration and frequency of the infringement;

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73(2)(b)

(b)whether the infringement has revealed serious or systemic weaknesses in the undertaking’s procedures or in its management systems or internal controls;

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73(2)(c)

(c)whether financial crime has been occasioned, facilitated or otherwise attributable to the infringement;

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73(2)(d)

(d)whether the infringement has been committed intentionally or negligently.

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73(3)

3.Without undue delay, ESMA shall notify any decision adopted pursuant to paragraph 1 to the trade repository concerned, and shall communicate it to the competent authorities of the Member States and to the Commission. It shall publicly disclose any such decision on its website within 10 working days from the date when it was adopted.

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When making public its decision as referred to in the first subparagraph, ESMA shall also make public the right of the trade repository 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.