{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"from:2022-01-01","held_since":"2022-01-01","gaps":[],"covered":["MiFIR L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/mifir/articles/38m","url":"https://www.headlesslaw.com/mifir/articles/38m","title":"Article 38m — Review by the Court of Justice","family":"l1_generated","work_id":"mifir","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-02","applies_from":null,"application":null,"version_label":"Consolidated version of 23 November 2025","check":{"against":"EUR-Lex","on":"2026-10-26"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123","valid_from":"2022-01-01","valid_until":null,"revision":1,"content_id":"f0845d823de44ffe","change_date":null,"nearest_versions":["2022-01-01"],"first_text_date":"2014-05-15","correction_applies":false,"versions":["2022-01-01"],"version_url":"https://www.headlesslaw.com/mifir/articles/38m/versions/2022-01-01","revision_url":"https://www.headlesslaw.com/mifir/articles/38m/versions/2022-01-01/rev/f0845d823de44ffe","versions_url":"https://www.headlesslaw.com/mifir/articles/38m/versions","relations_url":"https://www.headlesslaw.com/mifir/articles/38m/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/mifir/articles/38m.md","body_sha256":"746d5ef1196ae8e9aea661719ccad1cd03323e1dce9cd0b250bf1bb5eacfb749"},"units":[{"locator":"mifir/art/38m","kind":"article","status":"in_force","label":null,"heading":"Review by the Court of Justice","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"mifir/art/38m/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":"---\ntitle: \"Article 38m — Review by the Court of Justice\"\ntype: regulation\nlegal_status: in_force\nsource: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123\"\nsource_retrieved: 2026-09-30\nshortTitle: \"Article 38m — Review by the Court of Justice\"\ninstrument_type: level1_regulation\nauthority: Commission\nbinding: true\nbinding_character: binding\nmica_level2: false\nlegal_basis: \"Regulation (EU) No 600/2014\"\ninstrument: mifir\ncelex: \"32014R0600\"\nregulation: MiFIR\nregulation-full: \"Regulation (EU) No 600/2014\"\narticle: 38m\nstatus: in_force\nobject_id: eu.mifir.legal_text.article.38m\ntext_version: \"Consolidated version of 23 November 2025\"\nsource_url: \"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\n---\n\n*In force · Consolidated version of 23 November 2025 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014R0600-20251123)*\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 VIa — ESMA powers and competences](../titles/via.md) · [← Article 38l](38l.md) · [Article 38n →](38n.md)\n"}