ESMA finalises advice on TR fines: ESMA has finalised and submitted to the Commission its technical advice on procedural rules on imposing fines and periodic penalty payments on trade repositories (TRs). The advice will help the Commission adopt a Delegated Regulation on the rights of defence and of access to files, limitation periods and collection methods that will apply to ESMA when exercising its power, under the European Market Infrastructure Regulation (EMIR), to impose fines and penalties on TRs. (Source: Technical Advice to the Commission on Procedural Rules to Impose Fines and Periodic Penalty Payments to TRs)