What changed, Directive 2013/36/EU

− **5.** This Directive shall not apply to the following:▼M6 —————▼M5(2) central banks;(3) post office giro institutions;(4) in Denmark, the ‘Eksport Kredit Fonden’, the ‘Eksport Kredit Fonden A/S’, the ‘Danmarks Skibskredit A/S’ and the ‘KommuneKredit’;(5) in Germany, the ‘Kreditanstalt für Wiederauf…
− **6.** The entities referred to in points (3) to (24) of paragraph 5 of this Article shall be treated as financial institutions for the purposes of Article 34 and Title VII, Chapter 3.
− **1.** For the purposes of this Directive, the following definitions shall apply:(1) 'credit institution' means credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;(2) 'investment firm' means investment firm as defined in point (2) of Article 4(1) of Regulation …
− **4.** Member States shall ensure that the competent authorities have the expertise, resources, operational capacity, powers and independence necessary to carry out the functions relating to prudential supervision, investigations and penalties set out in this Directive and in Regulation (EU) No 575/…
− **1.** Member States shall require the undertakings referred to in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013 which have already obtained an authorisation pursuant to Title II of Directive 2014/65/EU to submit an application for authorisation in accordance with Article 8, at the lat…
− In determining whether the criteria for a qualifying holding are fulfilled, the voting rights referred to in Articles 9 and 10 of Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about…
− (f) commits one of the breaches referred to in Article 67(1).
− **1.** Parent financial holding companies in a Member State, parent mixed financial holding companies in a Member State, EU parent financial holding companies and EU parent mixed financial holding companies shall seek approval in accordance with this Article. Other financial holding companies or mix…
− **2.** For the purposes of paragraph 1, financial holding companies and mixed financial holding companies referred to therein shall provide the consolidating supervisor and, where different, the competent authority in the Member State where they are established with the following information:(a) the…
− Where the approval of a financial holding company or mixed financial holding company takes place concurrently with the assessment referred to in Article 22, the competent authority for the purposes of that Article shall coordinate, as appropriate, with the consolidating supervisor and, where differe…
− **3.** Approval may be granted to a financial holding company or mixed financial holding company pursuant to this Article only where all of the following conditions are fulfilled:(a) the internal arrangements and distribution of tasks within the group are adequate for the purpose of complying with t…
− **4.** Approval of the financial holding company or mixed financial holding company under this Article shall not be required where all of the following conditions are met:(a) the financial holding company’s principal activity is to acquire holdings in subsidiaries or, in the case of a mixed financia…
− **8.** For the purpose of taking decisions on the approval and exemption from approval referred to in paragraphs 3 and 4, respectively, and the supervisory measures referred to in paragraphs 6 and 7, where the consolidating supervisor is different from the competent authority in the Member State whe…
− **9.** In the case of mixed financial holding companies, where the consolidating supervisor or the competent authority in the Member State where the mixed financial holding company is established is different from the coordinator determined in accordance with Article 10 of Directive 2002/87/EC, the …
− **10.** Where approval of a financial holding company or mixed financial holding company pursuant to this Article is refused, the consolidating supervisor shall notify the applicant of the decision and the reasons therefor within four months of receipt of the application, or where the application is…
− **5.** For the purposes of this Article:(a) the total value of assets in the Union of the third‐country group shall be the sum of the following:(i) the total value of assets of each institution in the Union of the third‐country group, as resulting from its consolidated balance sheet or as resulting …
− **2.** The competent authorities shall acknowledge receipt of notification under paragraph 1 or of further information under paragraph 3 promptly and in any event within two working days following receipt in writing to the proposed acquirer.
− **1.** In assessing the notification provided for in Article 22(1) and the information referred to in Article 22(3), the competent authorities shall, in order to ensure the sound and prudent management of the credit institution in which an acquisition is proposed, and having regard to the likely inf…
− Confidential information which such persons, auditors or experts receive in the course of their duties may be disclosed only in summary or aggregate form, such that individual credit institutions cannot be identified, without prejudice to cases covered by criminal law.
− **2.** Paragraph 1 shall not prevent the competent authorities from exchanging information with each other or transmitting information to the ESRB, EBA, or the European Supervisory Authority (European Securities and Markets Authority) (‘ESMA’) established by Regulation (EU) No 1095/2010 of the Europ…
− (g) authorities responsible for supervising the obliged entities listed in points (1) and (2) of Article 2(1) of Directive (EU) 2015/849 of the European Parliament and of the Council (9) for compliance with that Directive, and financial intelligence units;
− **1.** Nothing in this Chapter shall prevent a competent authority from transmitting information to the following for the purposes of their tasks:(a) ESCB central banks and other bodies with a similar function in their capacity as monetary authorities when the information is relevant for the exercis…
− **4.** To the extent that the disclosure of information involves processing of personal data, any processing of personal data by the requesting body shall comply with the requirements laid down in Regulation (EU) 2016/679 of the European Parliament and of the Council (11).
− **1.** Member States shall provide that any person authorised in accordance with Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts (12) and performing in an institution the tasks described in Article 51 …
− ### Article 65 — Administrative penalties and other administrative measures
− **1.** Without prejudice to the supervisory powers of competent authorities referred to in Article 64 and the right of Member States to provide for and impose criminal penalties, Member States shall lay down rules on administrative penalties and other administrative measures in respect of breaches o…
− **2.** Member States shall ensure that where the obligations referred to in paragraph 1 apply to institutions, financial holding companies and mixed financial holding companies in the event of a breach of national provisions transposing this Directive or of Regulation (EU) No 575/2013, penalties may…
− **3.** Competent authorities shall have all information gathering and investigatory powers that are necessary for the exercise of their functions. Without prejudice to other relevant provisions laid down in this Directive and in Regulation (EU) No 575/2013 those powers shall include:(a) the power to…
− ### Article 66 — Administrative penalties and other administrative measures for breaches of authorisation requirements and requirements for acquisitions of qualifying holdings
− **1.** Member States shall ensure that their laws, regulations and administrative provisions provide for administrative penalties and other administrative measures at least in respect of:(a) carrying out the business of taking deposits or other repayable funds from the public without being a credit …
+ **5.** This Directive shall not apply to the following:▼M6 —————▼M5(2) central banks;(3) post office giro institutions;▼M11(4) in Denmark, the ‘Danmarks Eksport- og Investeringsfond’, the ‘Danmarks Skibskredit A/S’ and the ‘KommuneKredit’;(4a) in Czechia, the ‘Národní rozvojová banka a.s.’;(5) in Ge…
+ **6.** The entities referred to in paragraph 5, points (3) to (23), of this Article shall be treated as financial institutions for the purposes of Article 34 and Title VII, Chapter 3.
+ **1.** For the purposes of this Directive, the following definitions shall apply:(1) 'credit institution' means credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;(2) 'investment firm' means investment firm as defined in point (2) of Article 4(1) of Regulation …
+ **4.** Member States shall ensure that competent authorities have the expertise, resources, operational capacity, powers and independence necessary to carry out functions relating to prudential supervision and investigations and the powers necessary to impose the periodic penalty payments and penalt…
+ ### Article 4a — Supervisory independence of competent authorities
+ **1.** For the purposes of this Article, ‘members of the competent authority’s governance body’ means natural persons that form part of the most senior collective decision-making body of the competent authority and who are vested with the power to exercise executive functions regarding the day-to-da…
+ **2.** For the purpose of preserving the independence of competent authorities in the exercise of their powers, Member States shall provide for the necessary arrangements to ensure that competent authorities, including their members of staff and the members of their governance bodies, can exercise t…
+ Member States shall ensure that no member of a competent authority’s governance body who is appointed after 11 January 2026 remains in office for more than 14 years. Member States shall ensure that members of a competent authority’s governance body are appointed on the basis of published criteria th…
+ Member States shall ensure that competent authorities publish their objectives, are accountable for the discharge of their duties in relation to those objectives and are subject to financial control in a manner which does not affect their independence.
+ This paragraph shall be without prejudice to the rights and obligations of competent authorities pursuant to international or European systems of financial supervision, in particular the European system of financial supervision established pursuant to Regulation (EU) No 1093/2010 (4), the single sup…
+ **3.** Member States shall, in particular, ensure that competent authorities have in place all the necessary arrangements to prevent conflicts of interest of their members of staff and of the members of their governance bodies. For that purpose, Member States shall lay down rules that are proportion…
+ **4.** The cooling-off period shall start from the date on which direct involvement in the supervision of the entities referred to in paragraph 3, point (b)(i), ceased. Competent authorities shall ensure that their members of staff and the members of their governance bodies have no access to confide…
+ Member States may allow competent authorities to subject their members of staff and the members of their governance bodies to whom paragraph 3, point (b)(i), applies to a cooling-off period in the event of their hiring by direct competitors of one of the entities referred to in that point. For those…
+ **5.** By way of derogation from paragraph 4, Member States may allow competent authorities to apply shorter cooling-off periods of a minimum of three months for the members of staff directly involved in the supervision of institutions only where a longer cooling-off period:(a) would unduly restrict…
+ **6.** Members of staff and members of a competent authority’s governance body subject to the prohibition provided for in paragraph 3, point (b), shall be entitled to appropriate compensation for that prohibition. Member States shall decide on the appropriate form of such compensation.
+ **7.** Member States shall ensure that members of staff and members of a competent authority’s governance body are subject to a declaration of interest. That declaration shall include information on the members’ holdings in the form of stocks, equities, bonds, mutual funds, investment funds, mixed-t…
+ The declaration of interest shall be without prejudice to any requirement to submit a wealth declaration under applicable national rules.
+ **8.** Where a member of staff or a member of a competent authority’s governance body owns, at the time of being hired or appointed or at any time thereafter, financial instruments that may give rise to conflicts of interest, the competent authority shall have the power to require on a case-by-case …
+ **9.** To ensure a proportionate application of this Article, EBA shall, by 10 July 2026 issue guidelines, in accordance with Article 16 of Regulation (EU) No 1093/2010, addressed to the competent authorities, on the prevention of conflicts of interest in, and on the independence of, competent autho…
+ **1.** Member States shall require the undertakings referred to in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013 which have already obtained an authorisation pursuant to Title II of Directive 2014/65/EU to submit an application for authorisation in accordance with Article 8, at the lat…
+ **3a.** By way of derogation from paragraph 1 of this Article, based on the application received in accordance with that paragraph and the information received in accordance with Article 95a of Directive 2014/65/EU, the competent authority may, after receiving a request from an undertaking referred …
+ Upon receiving a waiver request, the competent authority shall notify EBA thereof. EBA shall issue an opinion on that waiver request within one month from the notification by the competent authority. The competent authority shall take a decision on the waiver request, taking into account the EBA opi…
+ (a) where the undertaking is part of a group, the organisational structure of the group, the booking practices prevailing within the group and the allocation of assets across the group entities;
+ (b) the nature, size and complexity of the activities carried out by the undertaking in the Member State where it is established and in the Union as a whole;
+ (c) the importance of, and systemic risk posed by, the activities carried out by the undertaking in the Member State where it is established and in the Union as a whole.
+ Where the decision of the competent authority deviates from the opinion provided by EBA, the competent authority shall state the reasons for the deviation in its decision.
+ The competent authority shall notify its decision to the undertaking concerned and to EBA. EBA shall publish that decision, together with its opinion, on its website.
+ The competent authority shall reassess its decision every three years.
+ **7.** EBA shall develop draft regulatory technical standards to further specify the elements that are to be taken into consideration by the competent authority when deciding whether to grant a waiver in accordance with paragraph 3a, taking into account, in particular, the materiality of the counter…
+ EBA shall submit those draft regulatory technical standards to the Commission by 10 January 2026.