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Recital 13

Recital 13

(13)To enable ESMA to assess whether an applicant for authorisation as a CTP has put in place, at the time of the application for authorisation, all the necessary arrangements to fulfil the criteria laid down in Article 27da(2) of Regulation (EU) No 600/2014, such applicant should, in its application for authorisation, provide a programme of operations, an organisational chart and an ownership chart. To enable ESMA to assess whether an applicant for authorisation as a CTP has sufficient human resources and oversight over its business, the organisational chart should identify who is responsible for the different activities. Furthermore, to enable ESMA to identify areas which may affect the independence of a CTP and give rise to a conflict of interest, the organisational chart should not only cover the scope of the consolidated tape service, but also include any other services that the applicant CTP intends to provide. Finally, to enable ESMA to assess whether the policies, procedures and corporate governance structure ensure both the independence of the CTP and the avoidance of conflicts of interest, an applicant for authorisation as a CTP should also provide information on the composition, functioning and independence of its governing bodies and on its internal control environment.

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