lexiara

art_33__para_3

3. The competent authorities shall, without prejudice to points (a) and (b) of paragraph 2, have the power in individual cases to require a natural or legal person entering into a credit default swap transaction to provide: an explanation about the purpose of the transaction and whether it is for the purposes of hedging against a risk or otherwise; and information verifying the underlying risk where the transaction is for hedging purposes.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-29 · Text as adopted (Official Journal); later amendments are not incorporated in this text.