+Article 4 4
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Article 4 4
4. The competent authorities and resolution authorities of clearing members established in third countries and the competent authorities and resolution authorities of third-country CCPs with which the CCP has established interoperability arrangements may be invited to participate in the resolution college as observers. Their attendance shall be conditional on those authorities being subject to confidentiality requirements equivalent, in the opinion of the resolution authority of the CCP as the chair of the resolution college, to those laid down in Article 73.
The participation of third-country authorities in the resolution college may be limited to the discussion of select cross-border enforcement issues, which may include the following:
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(a)
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effective and coordinated enforcement of resolution actions, in particular in accordance with Articles 53 and 77;
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(b)
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identification and removal of possible impediments to effective resolution action that may stem from divergent laws governing collateral, netting and set-off arrangements and different recovery and resolution powers or strategies;
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(c)
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identification and coordination of any need for new licensing, recognition or authorisation requirements, considering the need for resolution actions to be carried out in a timely fashion;
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(d)
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possible suspension of any clearing obligation for the relevant asset classes affected by the resolution of the CCP pursuant to Article 6a of Regulation (EU) No 648/2012 or to any equivalent provision under the national law of the third country concerned;
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(e)
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possible influence of different time-zones on the applicable close of business hours regarding the end of trading.
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1. Overview
1.1 References
1.2 Identified Requirements
1.3 Related Standards
2. Identified Requirements
Requirements
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Requirement |
3. Related Standards
Standards
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Requirement |
- Builddate: 22.01.2021 00:00:00 -Doknr: CELEX:32021R0023
- EULAW -
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