European Commission 13 March 2014, Commission Delegated Regulation (EU) No 667/2014 of 13 March 2014 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to rules of procedure for penalties imposed on trade repositories by the European Securities and Markets Authority including rules on the right of defence and temporal provisions Text with EEA relevance

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Commission Delegated Regulation (EU) No 667/2014 supplements Regulation (EU) No 648/2012 by establishing procedural rules governing the imposition of fines and periodic penalty payments by ESMA on trade repositories, including rights of defence such as the right to be heard in writing or orally before both the investigation officer and ESMA. Key provisions set out a five-year limitation period for both the imposition and enforcement of penalties, with rules on interruption and suspension of those periods, and require that collected amounts be held in an interest-bearing account until final before transfer to the Union budget. The Regulation applies directly in all Member States and entered into force on the third day following its publication in the Official Journal of the European Union.AI