12.

Without prejudice to Articles 8 and 44 of Directive 2014/65/EU and Article 20 of Regulation (EU) No 909/2014, the competent authority shall withdraw a specific permission or any related exemptions where: a flaw has been discovered in the functioning of the distributed ledger technology used, or in the services and activities provided by the operator of a DLT TSS that poses a risk to investor protection, market integrity or financial stability, and the risk outweighs the benefits of the services and activities under experimentation; the operator of the DLT TSS has breached the conditions attached to the exemptions; the operator of the DLT TSS has admitted to trading or recorded financial instruments that do not fulfil the conditions set out in Article 3(1); the operator of the DLT TSS has exceeded the threshold referred to in Article 3(2); the operator of the DLT TSS has exceeded the threshold referred to in Article 3(3) and has not activated the transition strategy; or the operator of the DLT TSS obtained the specific permission or related exemptions on the basis of misleading information or a material omission.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-13 · Text as adopted (Official Journal); later amendments are not incorporated in this text.