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Recital 4

Recital 4

(4)The right of defence should be weighed against the need, under specific circumstances, for urgent action by ESMA. Where urgent action pursuant to Article 64(2) of Regulation (EU) 2023/2631 is warranted, the right of defence of the person subject to the investigation should not be an impediment for ESMA to take urgent measures. In such case, in order to prevent significant and imminent damage to the financial system, ESMA should be able to adopt an interim decision without providing the person subject to the investigation the opportunity to make submissions. ESMA should give the person the opportunity to be heard as soon as possible after adopting the interim decision and before a confirmatory decision is adopted.

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