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Recital 13

Recital 13

(13)This Decision is based on the information currently available on the legal and supervisory arrangements applicable to UK CCPs from 1 January 2021. Those legal and supervisory arrangements should only be considered equivalent where the requirements applicable to CCPs in United Kingdom domestic law are maintained and continue to be effectively applied and enforced on and after that date, in order to avoid that any changes to the United Kingdom regulatory and supervisory framework negatively affect the equivalence in terms of regulation or supervision, leading to an un-level playing field between Union and UK CCPs or to financial stability risks for the Union. Since the Commission is able to amend, suspend, review or revoke this Decision at any time, in particular where developments occur in a third country which affect the equivalence determination, the effective exchange of information and coordination of supervisory activities between ESMA and the Bank of England is an essential prerequisite for maintaining the determination of equivalence during the period of validity of this Decision.

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