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In this act Article 3 of 7
Text as of 26 Oct 2026 · Commission Delegated Regulation (EU) 2020/1304, OJ L 305, 21.9.2020 · Same wording as today’s text.Today’s text

Article 3 — Comparable compliance with respect to Title IV of Regulation (EU) No 648/2012

Financial servicesLevel 2Delegated RegulationEMIRIn forceOfficial source

3(1)

1.ESMA shall grant comparable compliance with respect to the requirements set out in Title IV of Regulation (EU) No 648/2012 where:

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3(1)(a)
(a)the Tier 2 CCP complies with the requirements referred to in the implementing act referred to in Article 25(6) of that Regulation, if any;
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3(1)(b)
(b)the Tier 2 CCP complies with all relevant elements set out in Annex I to this Regulation.
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3(2)

2.Before ESMA adopts a decision not to grant comparable compliance, it shall:

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3(2)(a)
(a)verify its understanding of the applicable third-country framework and the way in which the Tier 2 CCP complies with it with that CCP’s competent authority,
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3(2)(b)
(b)inform the Commission thereof.
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