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This marks the final stage in the implementation of TR fines and penalty payments regulation. Article 64(7) of EMIR: “the Commission shall adopt further rules of procedure for the exercise of the power to impose fines or periodic penalty payments, including provisions on the rights of defence, temporal provisions, and the collection of fines or periodic penalty payments, and shall adopt detailed rules on the limitation periods for the imposition and enforcement of penalties.”
This follows publication in the OJ on 19th June 2014.