Review of the grounds for the suspension of the derivative trading obligation
Article 2
1. The Commission shall review whether the grounds for the suspension of the derivative trading obligation continue to apply every five years from 18 June 2026. For the purposes of carrying out the review referred to in the first subparagraph, the competent authorities of the financial counterparties referred to in Article 1 shall provide the Commission with updated evidence on the grounds for the suspension of the derivative trading obligation at the latest six months before the date by which the Commission is to carry out that review. 2. Without prejudice to paragraph 1 of this Article, where the competent authorities of the financial counterparties referred to in Article 1 deem that the conditions set out in Article 32a(1), points (a) or (b), of Regulation (EU) No 600/2014 are no longer complied with, they shall notify the Commission without undue delay. For the purposes of the first subparagraph, the competent authorities shall regularly monitor the compliance of the financial counterparties referred to in Article 1 of this Regulation with the conditions set out in Article 32a(1), points (a) or (b), of Regulation (EU) No 600/2014. 3. Following the review carried out in accordance with paragraph 1 of this Article, or following the notification by a competent authority pursuant to paragraph 2 of this Article, or after having otherwise obtained knowledge that a financial counterparty referred to in Article 1 no longer satisfies the grounds for the suspension of the derivative trading obligation, the Commission may revoke the suspension of the derivative trading obligation with respect to that financial counterparty. 4. Before revoking the suspension of the derivative trading obligation pursuant to paragraph 3, the Commission shall notify the competent authority of the financial counterparty concerned of its intention to revoke the suspension of the derivative trading obligation and the reasons thereof. Within six weeks from the date of the notification, the competent authority of the financial counterparty concerned may submit to the Commission a reasoned statement with any relevant information for the purposes of assessing the grounds for the suspension of the derivative trading obligation.