12.

Without prejudice to 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 CSD operating the DLT SS, 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 CSD operating the DLT SS has breached the conditions attached to the exemptions; the CSD operating the DLT SS has recorded financial instruments that do not fulfil the conditions set out in Article 3(1); the CSD operating the DLT SS has exceeded the threshold referred to in Article 3(2); the CSD operating the DLT SS has exceeded the threshold referred to in Article 3(3) and has not activated the transition strategy; or the CSD operating the DLT SS obtained the specific permission or related exemptions on the basis of misleading information or a material omission.

← art_9__para_11__text_4 · All articles · art_9__para_12__text_1 →

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