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In this act Article 12 of 14

Article 12 — Communication of the decision to grant or refuse an authorisation to operate as a CTP

Financial servicesLevel 2ITSMiFIRIn forceOfficial source

ESMA shall electronically inform an applicant for authorisation as a CTP of its decision to grant or to refuse such authorisation within five working days following the adoption of a reasoned decision as referred to in Article 27db(3) of Regulation (EU) No 600/2014.

CHAPTER III — FINAL PROVISIONS