in force 2022-01-01 INSERTED+1,949 −0§
Amended by Regulation (EU) 2019/2175 32019R2175 · Regulation (EU) 2022/858 32022R0858
applies from: unknown (an inserted provision states its own application date only in prose)
A new Article 54a is added, setting out transitional measures for transferring supervisory and enforcement competences and duties over data reporting services providers from national competent authorities to ESMA, with exceptions for certain APAs and ARMs subject to derogation.
The new provision also addresses the transfer of files, working documents and records, ESMA's role as legal successor in related proceedings, and the continued validity of existing authorisations after the transfer.
Cited: Art. 54a, v2
text before / after
inserted text (02014R0600-20220101)
Article 54a Transitional measures related to ESMA 1. All competences and duties related to the supervisory and enforcement activity in the field of data reporting services providers shall be transferred to ESMA on 1 January 2022, except for competences and duties related to APAs and ARMs subject to derogation referred to in Article 2(3). Those transferred competences and duties shall be taken-up by ESMA on the same date. 2. Any files and working documents related to the supervisory and enforcement activity in the field of data reporting services providers, including any ongoing examinations and enforcement actions, or certified copies thereof, shall be taken over by ESMA on the date referred to in paragraph 1. However, an application for authorisation that has been received by competent authorities before 1 October 2021 shall not be transferred to ESMA, and the decision to register or refuse registration shall be taken by the relevant competent authority. 3. The competent authorities referred to in paragraph 1 shall ensure that any existing records and working papers, or certified copies thereof, shall be transferred to ESMA as soon as possible and in any event by 1 January 2022. Those competent authorities shall also render all necessary assistance and advice to ESMA to facilitate effective and efficient transfer and taking-up of supervisory and enforcement activity in the field of data reporting services providers. 4. ESMA shall act as the legal successor to the competent authorities referred to in paragraph 1 in any administrative or judicial proceedings that result from supervisory and enforcement activity pursued by those competent authorities in relation to matters that fall under this Regulation. 5. Any authorisation of a data reporting services provider granted by a competent authority as defined in point 26 of Article 4(1) of Directive 2014/65/EU shall remain valid after the transfer of competences to ESMA.