Info
🔗 Back to Summary. 🇫🇷 French Version: 2022R0803_FR.8. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 7 – Limitation periods for the imposition of fines and periodic penalty payments ⬅️ | ➡️ Article 9 – Collection of fines and periodic penalty payments
Article 8 - Limitation periods for the enforcement of penalties
1.
The power of ESMA to enforce decisions taken pursuant to Articles 38h and 38i of Regulation (EU) No 600/2014 shall be subject to a limitation period of five years.
2.
The limitation period referred to in paragraph 1 shall be calculated from the day following that on which the decision becomes final.
3.
The limitation period for the enforcement of penalties shall be interrupted by:
(a)
a notification by ESMA to the person subject to the proceedings, of a decision varying the original amount of the fine or periodic penalty payment;
(b)
any action of ESMA, or of a national competent authority acting at the request of ESMA in accordance with 2014, designed to enforce payment or payment terms and conditions of the fine or periodic penalty payment.
4.
Each interruption referred to in paragraph 3 shall restart the limitation period.
5.
The limitation period for the enforcement of penalties shall be suspended for so long as:
(a)
time to pay is allowed;
(b)
enforcement of payment is suspended pursuant to a pending decision of ESMA Board of Appeal in accordance with 2010, and a review by the Court of Justice of the European Union in accordance with 2014.