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Chapter XV · AUCTION SURVEILLANCE, REMEDIAL MEASURES AND SANCTIONS › Article 57

Maximum bid-size and other remedial measures

1.   A maximum bid-size, or any other remedial measures necessary to mitigate an actual or potential discernible risk of market abuse, money laundering, terrorist financing or other criminal activity, as well as anti-competitive behaviour, may be imposed by any auction platform after consulting the Commission and obtaining its opinion thereon, provided that implementation of a maximum bid-size or any other remedial measures would effectively mitigate the risk in question. The Commission may consult the Member States concerned and the auction monitor and obtain their opinion on the proposal made by the auction platform concerned. The auction platform concerned shall take the utmost account of the Commission's opinion.

2.   The maximum bid-size shall either be expressed as a percentage of the total number of auctioned allowances in any given auction or a percentage of the total number of auctioned allowances in any given year, whichever may be most appropriate to deal with the risk of market abuse identified in Article 56(1).

3.   For the purposes of this Article, maximum bid-size means the maximum number of allowances that may be bid for, directly or indirectly, by any group of persons listed in Article 18(1) or (2), which belong to any of the following categories:

(a)

the same group of undertakings including any parent undertakings, its subsidiary undertakings and affiliate undertakings;

(b)

the same business grouping;

(c)

a separate economic unit having an independent power of decision where they are controlled, directly or indirectly, by public bodies or state-owned entities.

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