Before taking any decision pursuant to Articles 59, 60 and 61, ESMA shall give the persons subject to such a decision the opportunity to be heard on ESMA’s findings. ESMA shall base its decisions only on findings on which those persons have had the opportunity to comment.

Paragraph 1 of this Article shall not apply if urgent action pursuant to Article 59 is needed in order to prevent significant and imminent damage to the financial system. In such a case, ESMA may adopt an interim decision and shall give the persons concerned the opportunity to be heard as soon as possible after taking its decision.

The rights of defence of the persons subject to a decision of ESMA shall be fully respected during the respective proceedings. Those persons shall be entitled to have access to ESMA’s file, subject to the legitimate interest of other persons in the protection of their professional secrets. The right of access to the file shall not extend to confidential information or internal preparatory documents of ESMA.