(57)Effective supervision of CCPs relies on the building of competences, expertise and capabilities, as well as on the building of cooperative relationships and exchanges between institutions. Since those are all processes that develop over time and follow their own dynamics, the design of a functional, effective and efficient supervisory system for CCPs should take into account its potential evolution in the long term. Therefore, the division of competences established in this Regulation is likely to evolve as the role and capacities of ESMA, supported by the CCP Supervisory Committee, develop. With a view to developing an efficient and resilient supervisory approach regarding CCPs, the Commission should review the effectiveness of ESMA's tasks, in particular those of the CCP Supervisory Committee, in fostering a convergent and coherent application in the Union of Regulation (EU) No 648/2012 and of the division of responsibilities between Union's and Member States' institutions and bodies. The Commission should also report on the impact of this Regulation on the level playing field among CCPs and assess the framework for the recognition and supervision of third-country CCPs. The Commission should submit the report to the European Parliament and to the Council together with any appropriate proposals.