By 30 June 2013, the Commission shall, in light of discussions with the competent authorities and ESMA, report to the European Parliament and the Council on:

(a) the appropriateness of the notification and disclosure thresholds under Articles 5, 6, 7 and 8;

(b) the impact of the individual disclosure requirements under Article 6, in particular with regard to the efficiency and volatility of financial markets;

(c) the appropriateness of direct, centralised reporting to ESMA;

(d) the operation of the restrictions and requirements in Chapters II and III;

(e) the appropriateness of the restrictions on the uncovered sovereign credit default swaps and the appropriateness of any other restrictions or conditions on short selling or credit default swaps.