AI Summary of Article 17 Procedure for granting and refusing authorisation
An applicant CCP must submit an electronic application via the central database, which is immediately shared with its competent authority, ESMA and the college. An acknowledgement is sent within two working days. The competent authority must notify within 20 working days (new authorisation) or 10 working days (extension) whether required documents are complete and may request missing information; failure to comply can lead to rejection. The authority conducts a risk assessment within 80 or 40 working days, then submits a draft decision and report to ESMA and the college; both must issue opinions within 15 working days and may include conditions or recommendations. ESMA may provide additional opinions to promote consistent application.
During the risk assessment the competent authority coordinates questions and answers, may allow one 10‑working‑day extension if material questions remain, and ESMA or college members may request information directly after 10 working days. Within 10 working days of receiving opinions the competent authority adopts its decision and transmits it via the central database, fully reasoning any significant deviation from the college opinion; non‑compliance with ESMA opinions is reported to ESMA. Authorisation is granted only where the CCP fully complies with this Regulation and is notified as a system pursuant to Directive 98/26/EC. The applicant is not authorised if the competent authority refuses or the college (excluding the home authority) issues a joint negative opinion; a two‑thirds negative majority may be referred to ESMA within 30 calendar days. ESMA may investigate breaches and college members must not discriminate between Member States as clearing venues.
Article 17 Procedure for granting and refusing authorisation
1. The applicant CCP shall submit an application for authorisation as referred to in Article 14(1) or an application for an extension of an existing authorisation as referred to in Article 15(1) in an electronic format via the central database. The application shall be immediately shared via that central database with the CCP's competent authority, ESMA and the college referred to in Article 18.
The applicant CCP shall provide all information necessary to demonstrate that it has established, at the time of the initial authorisation, all the necessary arrangements to meet the requirements laid down in this Regulation. Where a CCP is applying for an extension of an existing authorisation pursuant to Article 15, it shall provide all information necessary to demonstrate that, at the time such an extension is granted, it will have established all additional arrangements to meet any requirements laid down in this Regulation in respect of such an extension.
In accordance with Article 17c, an acknowledgement of receipt of the application shall be sent via the central database within two working days of submission of that application under the first subparagraph of this paragraph.
2. The CCP's competent authority shall, following the acknowledgement of receipt referred to in paragraph 1, third subparagraph, notify the applicant CCP whether the application contains the documents and information required.