Article 23a — Supervisory cooperation between competent authorities and ESMA with regards to authorised CCPs

Financial servicesLevel 1RegulationEMIRIn forceVerifiedOfficial source

23a(1)

1.ESMA shall fulfil a coordination role between competent authorities and across colleges to:

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23a(1)(a)

(a)build a common supervisory culture and consistent supervisory practices;

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23a(1)(b)

(b)ensure uniform procedures and consistent approaches;

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23a(1)(c)

(c)strengthen consistency in supervisory outcomes, in particular with regard to supervisory areas which have a cross-border dimension or a possible cross-border impact;

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23a(1)(d)

(d)strengthen coordination in emergency situations in accordance with Article 24;

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23a(1)(e)

(e)assess risks when providing opinions to competent authorities pursuant to paragraph 2 on CCPs’ compliance with the requirements of this Regulation in relation to identified cross-border risks or risks to the financial stability of the Union, and providing recommendations as to how a CCP shall mitigate such risks.

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23a(2)

2.Competent authorities shall submit their draft decisions, reports or other measures to ESMA for its opinion before adopting any act or measure pursuant to Articles 7, 8 and 14, Article 15(1), second subparagraph, Article 21, Articles 29 to 33, and Articles 35, 36, 37, 41, 54 and, except where a decision is required urgently, Article 20.

Competent authorities may also submit draft decisions to ESMA for its opinion before adopting any other act or measure in accordance with their duties under Article 22(1).

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