Info
🔗 Back to Summary. 🇫🇷 French Version: 2014R0600_FR.38 sexdecies. Open the PDF. Direct link to EUR-LEX.
Article 38n – Authorisation and supervisory fees ⬅️ | ➡️ Article 39 – Market monitoring
Article 38o - Delegation of tasks by ESMA to competent authorities
1.
Where necessary for the proper performance of a supervisory task, ESMA may delegate specific supervisory tasks to the competent authority of a Member State in accordance with the guidelines issued by ESMA pursuant to 2010. Such specific supervisory tasks may, in particular, include the power to carry out requests for information in accordance with Article 38b and to conduct investigations and on-site inspections in accordance with Article 38c and Article 38d.
2.
Prior to delegation of a task, ESMA shall consult the relevant competent authority about:
(a)
the scope of the task to be delegated;
(b)
the timetable for the performance of the task; and
(c)
the transmission of necessary information by and to ESMA.
3.
In accordance with the delegated act adopted pursuant to Article 38n(3), ESMA shall reimburse a competent authority for costs incurred as a result of carrying out delegated tasks.
4.
ESMA shall review the decision referred to in paragraph 1 at appropriate intervals. A delegation may be revoked at any time.
5.
A delegation of tasks shall not affect the responsibility of ESMA nor limit ESMA’s ability to conduct and oversee the delegated activity.