For the purposes of the report referred to in the first subparagraph, ESMA shall, within 24 months of the date of entry into force of the delegated act adopted by the Commission pursuant to Article 4(9), and every three years thereafter, or more frequently where significant developments in market practices arise, submit a report to the European Parliament, to the Council and to the Commission on the efficiency of the reporting, taking into account the appropriateness of single-side reporting, in particular in terms of reporting coverage and quality as well as reduction of reports to trade repositories, and on significant developments in market practices with a focus on transactions having an equivalent objective or effect to an SFT.
Chun críocha na tuarascála dá dtagraítear sa chéad fhomhír, déanfaidh ÚEUM, laistigh de 24 mhí tar éis dháta theacht i bhfeidhm an ghnímh tharmligthe arna ghlacadh ag an gCoimisiún de bhun Airteagal 4(9) agus gach trí bliana ina dhiaidh sin, nó níos minice i gcás ina dtarlaíonn forbairtí suntasacha sna cleachtais mhargaidh, tuarascáil ar éifeachtúlacht an tuairiscithe a chur faoi bhráid Pharlaimint na hEorpa, faoi bhráid na Comhairle agus faoi bhráid an Choimisiúin, agus aird á tabhairt ar a oiriúnaí atá tuairisciú aontaobhach, go háirithe maidir le cumhdach agus cáilíocht an tuairiscithe mar aon le laghdú ar thuarascálacha do stórtha trádála, agus ar fhorbairtí suntasacha i gcleachtais sa mhargadh agus ag díriú ar idirbhearta a bhfuil cuspóir nó éifeacht acu atá coibhéiseach le hIMU.