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European Market Infrastructure Regulation (EMIR)
Article 22

Article 22 — Competent authority

  1. Each Member State shall designate the competent authority responsible for carrying out the duties resulting from this Regulation for the authorisation and supervision of CCPs established in its territory and shall inform the Commission and ESMA thereof.

    Where a Member State designates more than one competent authority, it shall clearly determine the respective roles and shall designate a single authority to be responsible for coordinating cooperation and the exchange of information with the Commission, ESMA, other Member States’ competent authorities, EBA and the relevant members of the ESCB, in accordance with Articles 23, 24, 83 and 84.

  2. Each Member State shall ensure that the competent authority has the supervisory and investigatory powers necessary for the exercise of its functions.
  3. Each Member State shall ensure that appropriate administrative measures, in conformity with national law, can be taken or imposed against the natural or legal persons responsible for non-compliance with this Regulation.

    Those measures shall be effective, proportionate and dissuasive and may include requests for remedial action within a set time frame.

  4. ESMA shall publish on its website a list of the competent authorities designated in accordance with paragraph 1.