Updated 01/09/2025
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Article 4 - Delegated Regulation 2025/754

Article 4

Rules of procedure to be followed by ESMA with regard to interim decisions on supervisory measures

1.   Where ESMA has adopted an interim decision as referred to in Article 64(2) of Regulation (EU) 2023/2631, it shall immediately notify that interim decision to the person subject thereto. ESMA shall set a reasonable time limit of at least four weeks within which the person subject to the interim decision may make written submissions on that decision. ESMA shall not be obliged to take into account written submissions received after the expiry of that time limit.

2.   Upon request, ESMA shall grant access to the file to the person subject to the interim decision. File documents accessed shall be used only for the purposes of judicial or administrative proceedings concerning the application of Regulation (EU) 2023/2631.

3.   ESMA may invite the person subject to the interim decision to attend an oral hearing. The persons subject to the interim decision may be assisted by a counsel of their choice. Oral hearings shall not be public.

4.   ESMA shall take a final decision as referred to in Articles 59(1), 60(1) and 61(1) of Regulation (EU) 2023/2631 as soon as possible after the adoption of the interim decision. Where ESMA considers, after having heard the person subject to the interim decision, that the person subject to the interim decision has committed an infringement as listed in Article 60(1) of Regulation (EU) 2023/2631, it shall adopt a confirmatory decision imposing one or more of the supervisory measures laid down in Article 59 of that Regulation. ESMA shall immediately notify that confirmatory decision to the person subject to the interim decision.

Where ESMA adopts a final decision that does not confirm the interim decision, the interim decision shall be deemed to be repealed.