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Breach of Union law


ESMA has power under Article 17 of the ESMA Regulation to investigate and take further action concerning the failure of National Competent Authorities to comply with their obligations under the legislation referred to in Article 1(2) of the ESMA Regulation. For further information on the scope of this power, we refer you to the ESMA Regulation (and in particular Article 17).

    Complaint about a national competent authority

    If you have a complaint about an NCA, we recommend that you consult ESMA’s Rules of procedure on breach of Union law investigations.

    The procedure for the assessment of whether to initiate an investigation under Article 17 and the conduct of such an investigation are both provided for in these rules of procedure.  

    Submitting a complaint

    If  you wish to submit a complaint against a national competent authority, please visit the Complaints page.