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+Article 40 3. |
Article 40 3.When taking action under this Article, ESMA shall ensure that the action:
(a)
does not have a detrimental effect on the efficiency of financial markets or on investors that is disproportionate to the benefits of the action;
(b)
does not create a risk of regulatory arbitrage, and
(c)
has been taken after consulting the public bodies competent for the oversight, administration and regulation of physical agricultural markets under Regulation (EC) No 1234/2007, where the measure relates to agricultural commodities derivatives. Where a competent authority or competent authorities have taken a measure under Article 42, ESMA may take any of the measures referred to in paragraph 1 without issuing the opinion provided for in Article 43. 1. Prezentare generală
1.1 Referințe1.2 Cerințe identificate1.3 Standarde asociate2. Cerințe identificate
3. Standarde asociate
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