3. The Commission may adopt a delegated act in accordance with Article 47 to specify the conditions referred to in paragraph 2, first subparagraph, of this Article. The Commission may subject the application of the implementing act referred to in paragraph 2 of this Article to:
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(a)
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the effective fulfilment on an ongoing basis by the third country concerned of any condition set out in that implementing act that aims to ensure equivalent supervisory and regulatory standards;
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(b)
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the ability of ESMA to effectively exercise the monitoring responsibilities referred to in Article 33 of Regulation (EU) No 1095/2010.
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