Article 41
Withdrawal of registration of third-country external reviewer
1.
ESMA shall withdraw the registration of a third-country external reviewer by removing that external reviewer from the register referred to in Article 67 where it has well-founded reasons, based on documentary evidence, to believe that, in the provision of the services under this Regulation in the Union the third-country external reviewer:
(a)
acts in a manner which is clearly prejudicial to the interests of investors or the orderly functioning of markets; or
(b)
has seriously infringed the laws and regulations, applicable to it in the third- country concerned and on the basis of which the Commission has adopted a decision pursuant to Article 40(1).
2.
ESMA shall take a decision pursuant to paragraph 1 after:
(a)
referring the matter to the supervisory authority of the third country concerned and that supervisory authority has not taken the measures necessary to protect investors and the orderly functioning of the markets in the Union or has failed to demonstrate that the third-country external reviewer concerned complies with the requirements applicable to it in that third-country; and
(b)
informing the supervisory authority of the third country concerned of its intention to withdraw the registration of the third-country external reviewer at least 30 days before the withdrawal.
3.
ESMA shall inform the Commission without delay of a decision taken pursuant to paragraph 1 and shall publish its decision on its website.
4.
In the event of the withdrawal of the registration of a third-country external reviewer, the Commission shall assess whether the conditions under which a decision pursuant to Article 40(1) has been adopted continue to exist in relation to the third country concerned.