in force 2020-01-01 INSERTED+1,536 −0§
Amended by Regulation (EU) 2019/2099 32019R2099
applies from: unknown (an inserted provision states its own application date only in prose)
This article is entirely new, establishing a third-country CCP college convened by ESMA to facilitate information sharing.
It sets out the college's membership, including the CCP Supervisory Committee's Chair and independent members, competent authorities under Article 22, authorities supervising clearing members, trading venues and central securities depositories in the Union, and ESCB members, and it allows college members to request that the CCP Supervisory Committee discuss specific matters concerning a third-country CCP.
It also provides that the college's establishment and functioning rest on a written agreement among its members and that the professional secrecy obligation under Article 83 applies to all of them.
Cited: Art. 25c, v2
text before / after
inserted text (02012R0648-20200101)
Article 25c Third-country CCP college 1. ESMA shall establish a college for third-country CCPs to facilitate the sharing of information. 2. The college shall consist of: (a) the Chair of the CCP Supervisory Committee, who shall chair the college; (b) the two independent members of the CCP Supervisory Committee; (c) the competent authorities referred to in Article 22; in Member States where more than one authority has been designated as competent in accordance with Article 22, those authorities shall agree on a common representative; (d) the competent authorities responsible for the supervision of the clearing members established in the Union; (e) the competent authorities responsible for the supervision of trading venues established in the Union, served or to be served by the CCPs; (f) the competent authorities supervising central securities depositories established in the Union to which the CCPs are linked or intend to be linked; (g) the members of the ESCB. 3. The college members may request that the CCP Supervisory Committee discusses specific matters in relation to a CCP established in a third country. Such request shall be made in writing and shall include detailed reasoning for the request. The CCP Supervisory Committee shall duly consider such requests and provide an appropriate response. 4. The establishment and functioning of the college shall be based on a written agreement between all its members. The obligation of professional secrecy in accordance with Article 83 shall apply to all college members.