(7)With regard to the requirements for timely confirmation, portfolio compression and reconciliation, valuation and the resolution of disputes applicable to OTC derivatives not cleared by a CCP, the OTC derivatives rules contained in the Guidelines of MAS could be considered equivalent to the requirements set out in paragraphs 1 and 2 of Article 11 of Regulation (EU) No 648/2012. Non-compliance with the Guidelines may trigger a review of the authorisation under which entities subject to the Guidelines operate.