Recital 7

(7)Since the amendments are limited in scope and concern only CCP’s national competent authorities without imposing any additional requirements on market participants and to facilitate as soon as possible the adjustment of CCP colleges to the new provisions of Regulation (EU) No 648/2012, in accordance with Article 10(1) of Regulation (EU) No 1095/2010 of the European Parliament and of the Council ⁴ , ESMA has considered that it is highly disproportionate to the scope and impact of the regulatory technical standards to conduct a public consultation. However, ESMA has consulted the Securities and Markets Stakeholder Group established in accordance with Article 37 of that Regulation, the relevant CCP’s national competent authorities and the ESCB,