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Recital 33

Recital 33

(33)For that purpose, the Commission should conduct regular reviews of the legal and supervisory arrangements applicable to NSEs and ATSs in the U.S. This is without prejudice to the possibility of the Commission to undertake a specific review at any time, where relevant developments make it necessary for the Commission to re-assess the equivalence granted by this Decision, in particular taking into account the experience acquired as regards the execution of trades on ATS after one year following entry into force of this decision. Any re-assessment could lead to the repeal of this Decision.

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