in force 2022-01-01 INSERTED+1,611 −0§
Amended by Regulation (EU) 2019/2175 32019R2175 · Regulation (EU) 2022/858 32022R0858
applies from: unknown (an inserted provision states its own application date only in prose)
Sources disagree about what is listed, not about the text — the text comparison found this change; the EU's own amendment metadata does not list it. Both are shown; neither is overruled.
This new article sets out that ESMA is to disclose to the public fines and periodic penalty payments imposed under Articles 38h and 38i, subject to an exception where disclosure would seriously jeopardise financial markets or cause disproportionate damage, and specifies that such disclosures must not contain personal data as defined in Regulation (EU) 2018/1725.
It further provides that such fines and penalty payments are administrative in nature, that ESMA must inform the European Parliament, Council, Commission and the competent authorities of the Member State concerned with reasons when it decides not to impose a fine or penalty, that the fines and payments are enforceable under the procedural rules of the Member State where enforcement takes place, and that the collected amounts are allocated to the general budget of the European Union.
Cited: Art. 38j, v2
text before / after
inserted text (02014R0600-20220101)
Article 38j Disclosure, nature, enforcement and allocation of fines and periodic penalty payments 1. ESMA shall disclose to the public every fine and periodic penalty payment that has been imposed pursuant to Articles 38h and 38i unless such disclosure to the public would seriously jeopardise the financial markets or cause disproportionate damage to the parties involved. Such disclosure shall not contain personal data within the meaning of Regulation (EU) 2018/1725 of the European Parliament and of the Council Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).. 2. Fines and periodic penalty payments imposed pursuant to Articles 38h and 38i shall be of an administrative nature. 3. Where ESMA decides to impose no fines or penalty payments, it shall inform the European Parliament, the Council, the Commission, and the competent authorities of the Member State concerned accordingly and shall set out the reasons for its decision. 4. Fines and periodic penalty payments imposed pursuant to Articles 38h and 38i shall be enforceable. Enforcement shall be governed by the rules of procedure in force in the Member State in the territory of which it is carried out. 5. The amounts of the fines and periodic penalty payments shall be allocated to the general budget of the European Union.