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Article 6 – Access to the file and use of documents ⬅️ | ➡️ Article 8 – Limitation periods for the enforcement of penalties
Article 7 - Limitation periods for the imposition of fines and periodic penalty payments
1.
Fines and periodic penalty payments on DRSPs and other persons subject to investigation shall be subject to a limitation period of five years.
2.
The limitation period referred to in paragraph 1 shall begin on the day following that on which the infringement is committed. In the case of continuing or repeated infringements, that limitation period shall begin on the day on which the infringement ceases.
3.
Any action taken by ESMA, or by the national competent authority acting at the request of ESMA in accordance with 2014 for the purpose of the investigation or proceedings in respect of an infringement of the requirements referred to in 2014 shall interrupt the limitation period for the imposition of fines and periodic penalty payments. That limitation period shall be interrupted with effect from the date on which the action is notified to the DRSP or the person subject to the investigation in respect of an infringement of the requirements referred to in 2014.
4.
Each interruption as referred to in paragraph 3 shall restart the limitation period. The limitation period shall expire at the latest on the day on which a period equal to twice the limitation period has elapsed without ESMA having imposed a fine or a periodic penalty payment. That period shall be extended by the time during which limitation is suspended pursuant to paragraph 5.
5.
The limitation period for imposing fines and periodic penalty payments shall be suspended for as long as the decision of ESMA is subject to proceedings pending before the Board of Appeal referred to in 2010 of the European Parliament and of the Council
, or is subject to a review by the Court of Justice of the European Union in accordance with 2014.