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Preamble
Recitals 55
Title I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-2) 2
Title II - TRANSPARENCY FOR TRADING VENUES (Article 3-13) 14
Title III - TRANSPARENCY FOR SYSTEMATIC INTERNALISERS AND INVESTMENT FIRMS TRADING OTC AND TICK SIZE REGIME FOR SYSTEMATIC INTERNALISERS (Article 14-23a) 14
Title IV - TRANSACTION REPORTING (Article 24-27) 4
Title IVA - DATA REPORTING SERVICES (Article 27a-27i) 12
Title V - DERIVATIVES (Article 28-34) 8
Title VI - NON-DISCRIMINATORY CLEARING ACCESS FOR FINANCIAL INSTRUMENTS (Article 35-38) 4
Title VIA - ESMA POWERS AND COMPETENCES (Article 38a-38o) 15
- Chapter 1 - Competences and procedures (Article 38a-38g) 7
- Chapter 2 - Administrative sanctions and other administrative measures (Article 38h-38o) 8
Title VII - SUPERVISORY MEASURES ON PRODUCT INTERVENTION AND POSITIONS (Article 39-45) 8
Title VIII - PROVISION OF SERVICES AND PERFORMANCE OF ACTIVITIES BY THIRD-COUNTRY FIRMS FOLLOWING AN EQUIVALENCE DECISION WITH OR WITHOUT A BRANCH (Article 46-49) 4
Title IX - DELEGATED AND IMPLEMENTING ACTS (Article 50-51) 2
Title X - FINAL PROVISIONS (Article 52-55) 6
Amending acts 9

Article 38m - Review by the Court of Justice

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Article 38m

Review by the Court of Justice

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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.

Official text · consolidated version 17/01/2025 (in force) Open full page ↗