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# Article 23 — Procedure for the temporary suspension of the participation in the revenue redistribution scheme (Article 27h(8), point (c), of Regulation (EU) No 600/2014)

**Commission Delegated Regulation (EU) 2025/1155 · binding · OJ L, 2025/1155, 3.11.2025 · dated 12 Jun 2025 [in force]**

*In force · Commission Delegated Regulation (EU) 2025/1155, OJ L, 2025/1155, 3.11.2025 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/eli/reg_del/2025/1155/oj/eng)*

1. <a id="art-23-p-1"></a>Where the CTP for shares and ETFs has found a repeated and serious breach by a data contributor of the criteria set out in Article 22(1), points (a) and (b), it shall inform the data contributor thereof as soon as possible and, in any case, within two business days from the moment it has found the repeated and serious breach. In the notification to the data contributor, the CTP shall:

    <a id="art-23-p-1-a"></a>**(a)** identify the trade reports or order reports in relation to which the data contributor is deemed in breach and the number of days for which the revenue redistribution may be suspended;

    <a id="art-23-p-1-b"></a>**(b)** provide information to the data contributor supporting its assessment.

    Within one week from the notification referred to in the first subparagraph, the data contributor may provide additional information to the CTP seeking to prove that the data requirements were not breached, or that an exceptional circumstance, as referred to in Article 22(2), occurred, and request that the CTP reviews its assessment based on the additional information.

    The CTP shall review its assessment taking into account the additional information provided by the data contributor and, where it considers the information not to be complete, set a deadline by which the data contributor is to provide additional information.

1. <a id="art-23-p-2"></a>On the last day of the period in relation to which the revenue is redistributed, the CTP shall draw up its final assessment on whether the criteria for the temporary suspension of the participation of a data contributor in the revenue redistribution scheme, in accordance with Article 22(1), are met.
The CTP shall inform the data contributor of its final assessment within two business days after the last day of the period in relation to which revenue is redistributed. The CTP shall inform the data contributor of the reasons for its final assessment, including the data requirements deemed in breach, and specify the amount of revenue that may be retained.
Within one week from receipt of the information referred to in the second subparagraph of this paragraph, the data contributor may provide additional information to the CTP proving that the data requirements referred to in Article 22a, 22b and 22c of Regulation (EU) No 600/2014 were not breached, or that an exceptional circumstance, as referred to in Article 22(2), occurred, and request that the CTP reviews its final assessment based on the additional information.
The CTP shall review its final assessment taking into account the additional information provided by the data contributor and, where it considers the information not to be complete, set a deadline by which the data contributor is to provide additional information.
1. <a id="art-23-p-3"></a>The CTP shall inform the data contributor concerned of its final decision on the suspension of the participation in the revenue redistribution scheme no later than two weeks after informing the data contributor of the final assessment referred to in the second subparagraph of paragraph 2.
Where the CTP takes a final decision to suspend a data contributor from the revenue redistribution scheme it may redistribute the retained revenue to the other eligible data contributors in the redistribution window following that decision.
