A CCP's competent authority must submit electronically via the central database a request for an opinion to ESMA pursuant to Article 23a(2) or to the college pursuant to Article 19 where specified Articles apply. The request and all relevant documents must be shared immediately with ESMA and the college. The competent authority shall assess the CCP's compliance within 30 working days and transmit its draft decision, report or other measure to ESMA and the college. ESMA shall adopt opinions on Articles 20, 21 and 37 and may adopt opinions on other listed Articles to promote consistent application; ESMA and the college may include conditions or recommendations to mitigate shortcomings in risk management.

ESMA and the college must adopt their opinions within the deadline set by the competent authority, which shall be at least 15 working days after receipt of the documents. Within 10 working days of receiving those opinions the competent authority shall, after due consideration, adopt and transmit its final decision, report or measure. Any decision that departs from an opinion of ESMA or the college must contain full reasons. Where the competent authority does not comply with ESMA’s opinion ESMA shall inform its Board of Supervisors and include the authority’s reasoning; where a lack of convergence is shown ESMA may issue guidelines or recommendations under Regulation (EU) No 1095/2010.