Changes from plenary report to adopted text

Removed2. Where ESMA considers that at least one of the circumstances referred to in paragraph 1 applies, it shall, within five working days, notify the CCP's competent authority and the members of college accordingly.’

Removed‘3. ESMA shall consult the CCP’s competent authority shall consult ESMA and the members of the college, in accordance with paragraph 6, on the necessity to withdraw the authorisation of the CCP, except where a decision is required urgently.

Removed4. The CCP's competent authority or any member of the college may, at any time, request that ESMA examine whether the CCP remains in compliance with the conditions under which authorisation was granted.5. ESMA may limit the withdrawal to a particular service, activity, or class of financial instruments or non-financial instruments.

Removed6. Before ESMA takes a decision to withdraw a particular service, activity, or class of financial instruments or non-financial instruments, it shall request the opinion of the college in accordance with Article 17b.

Removed7. Where ESMA takes a decision on the withdrawal of authorisation in full or in relation to a particular service, activity, or class of financial instruments or non-financial instruments, that decision shall take effect throughout the Union.’;

Removed(16) Article 21 is amended as follows:

Removed(a) paragraph 1 is replaced by the following:

Removed‘1. ESMA shall do at least all of the following:

Removed(a) review the arrangements, strategies, processes and mechanisms implemented by CCPs to comply with this Regulation;

Removed(b) review the services or activities the CCP has started providing following the non-objection procedures pursuant to Article 17a, 17ba or pursuant to Article 49;

Removed(c) evaluate the risks, including financial and operational risks, to which CCPs are, or might be, exposed.’;

Removed(c a) prepare a plan for joint supervisory activities pursuant to Article 23b.”;

Removed(b) paragraphs 3 and 4 are replaced by the following:

Removed‘3. ESMA shall, after having considered the input of the college, establish the frequency and depth and substantive focus of the review and evaluation referred to in paragraph 1 of this Article, having particular regard to the size, systemic importance, nature, scale, complexity of the activities and interconnectedness with other financial market infrastructures of the CCPs concerned and to the supervisory priorities established by ESMA in accordance with Article 24a(7), first subparagraph, point (ba). ESMA shall update the review and evaluation at least on an annual basis.

RemovedCCPs shall be subject to on-site inspections. ESMA shall invite the college and the participants to the joint supervisory activities as referred to in Article 23b, to participate in on-site inspections.

RemovedESMA shall forward to the college the information received from the CCPs during or in relation to on-site inspections.

Removed4 ESMA shall regularly, and at least annually, submit a report to the college that includes the following;

Removeda) the results of the review and evaluation as referred to in paragraph 1, including whetherESMA has taken any remedial action or imposed penalties; and

Removed(b) a plan for joint supervisory activities pursuant to Article 23b for the following calendar year.

RemovedESMA shall communicate the report covering a calendar year to the CCP's competent authority and the college by 30 March of the following calendar year. That report shall be subject to an opinion of the college pursuant to Article 19 and an opinion by ESMA pursuant to Article 24a(7), first subparagraph, point (bc), issued in accordance with the procedure set out in Article 17b.’;

Removed(c) the following paragraph is inserted:

Removed‘4a. For the purposes of carrying out the review and evaluation referred to in paragraph 1 of this Article, as well as establishing its frequency, depth and substantive focus in accordance with paragraph 3 of this Article, ESMA shall consider the outcome of the work the Joint Monitoring Mechanism has carried out pursuant to Article 23c, to the extent that such outcome is relevant for the CCP subject to such review and evaluation.’;

Removed(d) paragraph 5 is replaced by the following:

Removed‘5. ESMA shall require any CCP that does not meet the requirements laid down in this Regulation to take the necessary action or steps at an early stage to address the situation.’;

Removed(16 a) in Article 22(1), the first subparagraph is amended as follows:

Removed"1. Each Member State shall designate the competent authority responsible for carrying out the duties resulting from this Regulation for CCPs established in its territory and shall inform the Commission and ESMA thereof.";

Removed(16b) the following articles are inserted:

Removed‘Article 22a

RemovedPowers of ESMA

Removed1. ESMA shall be responsible for carrying out its duties under this Regulation for the authorisation and supervision of CCPs established in the Union.

Removed2. ESMA shall ensure on an ongoing basis the compliance by CCPs established in the Union with Articles 7 to 8, Articles 14 to 17ba, Article 20, 21, and 24 and Titles IV and V.

Removed3. ESMA shall be empowered with the supervisory, investigatory and enforcement powers necessary for the exercise of its functions under this Regulation.

Removed4. The powers referred to in paragraph 3 shall include at least powers to:

Removed(a) authorise a CCP for a particular clearing service or activity in financial instruments or non-financial instruments;

Removed(b) supervise the CCP’s compliance with the requirements laid down in this Regulation and adopt decisions and conduct supervisory assessments in relation to Articles 7 to 8, 14 to 17ba, 20, 21, and 24 and Titles IV and V;

Removed(c) have access to any document or other data from the CCP in a form which ESMA considers relevant for the performance of its duties and to receive or take a copy of such documents or data;

Removed(d) require or demand the provision of information from any person related to the CCP and if necessary to summon and question a person with a view to obtaining information;

Removed(e) carry out joint on-site inspections or investigations with the CCP competent authority;

Removed(f) require the auditors of authorised CCPs to provide information ;

Removed(g) require, the temporary or permanent cessation of any practice or conduct that ESMA considers to be contrary to the provisions of this Regulation or where such practise or conduct may have an adverse effect on the CCPs cross-border activities or a possible cross-border impact;

Removed(h) require the removal of a natural person from the management board of an authorised CCP;

Removed(i) impose fines and periodic penalty payments;

Removed(j) issue public notices; and

Removed(k) withdraw the authorisation of the CCP, or its authorisation for a particular service, activity or class of financial instruments or non-financial contract.

RemovedESMA shall charge fees for undertaking their duties as set out under paragraph 1 and in accordance with the delegated act adopted pursuant to the next subparagraph of this paragraph.

RemovedBy ... [6 months from the date of entry into force of this amending Regulation] the Commission shall adopt a delegated act in accordance with Article 82 in order to specify further the following:

Removed(a) the types of fees;

Removed(b) the matters for which fees are due;

Removed(c) the amount of the fees;

Removed(d) the manner in which fees are to be paid. (AM 121 and 409 Hübner)

RemovedESMA shall duly notify the Commission once it considers that the provisions under this Article and Articles 22b, 23b and 23c are fully implemented.

RemovedDelegation of tasks by ESMA to competent authorities

Removed1. Where necessary for the proper performance of a supervisory task, ESMA may by decision delegate specific supervisory tasks to the competent authority of a Member State in accordance with the guidelines issued by ESMA pursuant to Article 16 of Regulation (EU) No 1095/2010.

Removed2. Prior to the delegation of a task referred to in paragraph 1, ESMA shall consult the relevant competent authority about all of the following:

Removed(a) the scope of the task to be delegated;

Removed(b) the timetable for the performance of the task;

Removed(c) the transmission of necessary information by and to ESMA.

Removed3. ESMA shall review the decision to delegate referred to in paragraph 1 at appropriate intervals. A delegation may be revoked at any time.

Removed4. A delegation of tasks shall not affect the responsibility of ESMA nor limit ESMA’s ability to conduct and oversee the delegated activity.’;

Removed(17) Article 23a is amended as follows: