Recital 32

(32) ESMA should be able to contribute more effectively to ensuring that Union CCPs are safe, robust and competitive in providing their services throughout the Union. Therefore, ESMA should, in addition to the supervisory competences currently laid down in Regulation (EU) No 648/2012, issue an opinion to the CCP’s competent authority about a CCP’s withdrawal of authorisation except where a decision is required urgently, meaning within a period shorter than the period allocated for ESMA to provide its opinions. ESMA should also issue opinions on the review and evaluation, margin requirements and participation requirements. Competent authorities should provide explanations for any significant deviations from ESMA’s opinions and ESMA should inform its Board of Supervisors where a competent authority does not comply or does not intend to comply with ESMA’s opinion and with any conditions or recommendations included therein. The information should also include the reasons provided by the competent authority for non-compliance with ESMA’s opinion or any conditions or recommendations contained therein.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.