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Delegated Regulation (EU) 2020/1304 · binding · OJ L 305, 21.9.2020 · dated 14 Jul 2020 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2020-07-14","entry_into_force":"2020-09-22","locators":{"document_date":"CELLAR 32020R1304 work_date_document","entry_into_force":"CELLAR 32020R1304 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/delegated-acts/2020-1304-requests-for-comparable-compliance-of-third-country-ccps","path":"/emir/level-2/delegated-acts/2020-1304-requests-for-comparable-compliance-of-third-country-ccps","name":"Commission Delegated Regulation (EU) 2020/1304","number":"2020/1304","celex":"32020R1304","title_official":"COMMISSION DELEGATED REGULATION (EU) 2020/1304 of 14 July 2020 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to the minimum elements to be assessed by ESMA when assessing third-country CCPs’ requests for comparable compliance and the modalities and conditions of that assessment (Text with EEA relevance)","document_date":"2020-07-14"},"position":{"kind":"article","key":"1","index":1,"articles":7,"annexes":2},"prev":null,"next":{"path":"/emir/level-2/delegated-acts/2020-1304-requests-for-comparable-compliance-of-third-country-ccps/articles/2","key":"2","title":"Article 2 — Comparable compliance with respect to Article 16 of Regulation (EU) No 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the deadline set by ESMA in the notification informing the third-country CCP that it is not considered to be a Tier 1 CCP or at any moment after a third-country CCP has been recognised by ESMA as a Tier 2 CCP in accordance with Article 25(2b).\n\n    The Tier 2 CCP shall inform its competent authority of the submission referred to in the first subparagraph.\n\n2. <a id=\"art-1-p-2\"></a>The reasoned request referred to in paragraph 1 shall specify:\n\n    <a id=\"art-1-p-2-a\"></a>**(a)** the requirements for which the Tier 2 CCP requests comparable compliance;\n\n    <a id=\"art-1-p-2-b\"></a>**(b)** the reasons why the Tier 2 CCP’s compliance with the applicable third-country framework satisfies compliance with the relevant requirements set out in [Article 16](../../articles/16.md) and Titles IV and V of Regulation (EU) No 648/2012;\n\n    <a id=\"art-1-p-2-c\"></a>**(c)** the way in which the Tier 2 CCP complies with any conditions set out for the application of the implementing act referred to in [Article 25(6)](../../articles/25.md) of Regulation (EU) No 648/2012.\n\n    For the purposes of point (b), the Tier 2 CCP shall provide, where relevant, the evidence referred to in Article 5.\n\n3. <a id=\"art-1-p-3\"></a>The Tier 2 CCP shall, at ESMA’s request, include in the reasoned request referred to in paragraph 1:\n\n    <a id=\"art-1-p-3-a\"></a>**(a)** a statement from its competent authority confirming that the Tier 2 CCP is of good repute and standing;\n\n    <a id=\"art-1-p-3-b\"></a>**(b)** where necessary, with regard to the requirements set out in [Article 16](../../articles/16.md) and Title V of Regulation (EU) No 648/2012, a translation of the relevant applicable third-country framework into a language commonly used in finance.\n\n4. <a id=\"art-1-p-4\"></a>ESMA shall assess, within 30 working days of receipt of a reasoned request submitted in accordance with paragraph 1, whether that reasoned request is complete. ESMA shall set a deadline by which the Tier 2 CCP has to provide additional information where the request is incomplete.\n\n5. <a id=\"art-1-p-5\"></a>ESMA shall decide whether to grant comparable compliance for the requirements included in the reasoned request within 90 working days from the receipt of a complete reasoned request submitted in accordance with paragraph 4 of this Article.\n\n    ESMA may postpone that decision where the reasoned request or the additional information referred to in paragraph 4 are not submitted in time and the assessment of that request could, as a result, delay ESMA’s decision on the recognition of the third-country CCP or the review of its recognition.\n\n6. <a id=\"art-1-p-6\"></a>A Tier 2 CCP for which ESMA has not granted comparable compliance for one or more requirements may not submit a new reasoned request as referred to in paragraph 1 regarding those requirements, unless there has been a relevant change to the applicable third-country framework or to the way in which that CCP complies with that framework.\n\n","marks":[],"text_hash":"9e3cba73c0aa3c870ac5f4b97cd5cd33d3ce7b61ea7fdc3771a02a26a94a21e5","revision":1}}