What changed, Regulation (EU) 2019/2175
2019-12-18 → 2019-12-27 · no interpretation, just the text delta
| on 2019-12-18 | eu-eurlex:32019r2175:2019-12-18 (2019-12-18 → 2019-12-26) · official source ↗ |
| on 2019-12-27 | eu-eurlex:32019r2175:2019-12-27 (2019-12-27 → open) · official source ↗ |
Open the structured article comparison → matched by provision anchor when continuity is sufficient; otherwise Lex refuses rather than inventing changes
1,574 line(s) in the old middle, 585 in the new; 1 unchanged leading and 1 trailing lines trimmed.
+ ### Article 1 — Amendments to Regulation (EU) No 1093/2010 + + Regulation (EU) No 1093/2010 is amended as follows: + + (1) Article 1 is amended as follows: (a) paragraphs 2 and 3 are replaced by the following: **‘2.** The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 2002/87/EC, Directive 2008/48/EC (*1), Directive 2009/110/EC, Regulation (EU) No 575/2013 (*2), … + + (2) Article 2 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Authority shall form part of a European system of financial supervision (ESFS). The main objective of the ESFS shall be to ensure that the rules applicable to the financial sector are adequately implemente… + + (3) Article 3 is replaced by the following: ‘Article 3 Accountability of the Authorities **1.** The Authorities referred to in points (a) to (d) of Article 2(2) shall be accountable to the European Parliament and to the Council. The European Central Bank shall be accountable to the European Parliame… + + (4) Article 4 is amended as follows: (a) point (1) is replaced by the following: ‘(1) “financial institution” means any undertaking that is subject to regulation and supervision pursuant to any of the legislative acts referred to in Article 1(2);’; (b) the following point is inserted: ‘(1a) “financi… + + (5) Article 8 is amended as follows: (a) paragraph 1 is amended as follows: (i) point (a) is replaced by the following: ‘(a) based on the legislative acts referred to in Article 1(2), to contribute to the establishment of high-quality common regulatory and supervisory standards and practices, in par… + + (6) Article 9 is amended as follows: (a) paragraph 1 is amended as follows: (i) point (a) is replaced by the following: ‘(a) collecting, analysing and reporting on consumer trends, such as the development of costs and charges of retail financial services and products in Member States;’; (ii) the fol… + + (7) the following articles are inserted: ‘Article 9a Special tasks related to preventing and countering money laundering and terrorist financing **1.** The Authority shall, within its respective competences, take a leading, coordinating and monitoring role in promoting integrity, transparency and se… + + (8) Article 10 is amended as follows: (a) paragraph 1 is amended as follows: (i) the first subparagraph is replaced by the following: **‘1.** Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to … + + (9) in Article 13(1), the second subparagraph is deleted; + + (10) Article 15 is amended as follows: (a) paragraphs 1 and 2 are replaced by the following: **‘1.** Where the European Parliament and the Council confer implementing powers on the Commission to adopt implementing technical standards by means of implementing acts pursuant to Article 291 TFEU, in the… + + (11) Article 16 is amended as follows: (a) paragraphs 1 and 2 are replaced by the following: **‘1.** The Authority shall, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, and to ensuring the common, uniform and consistent application of Union law… + + (12) the following articles are inserted: ‘Article 16a Opinions **1.** The Authority may, upon a request from the European Parliament, from the Council or from the Commission, or on its own initiative, provide opinions to the European Parliament, to the Council and to the Commission on all issues re… + + (13) Article 17 is amended as follows: (a) paragraph 2 is amended as follows: (i) the first subparagraph is replaced by the following: **‘2.** Upon request from one or more competent authorities, the European Parliament, the Council, the Commission, the Banking Stakeholder Group, or on its own initi… + + (14) the following article is inserted: ‘Article 17a Protection of reporting persons **1.** The Authority shall have in place dedicated reporting channels for receiving and handling information provided by a natural or legal person reporting on actual or potential breaches, abuse of law, or non-appl… + + (15) in Article 18, paragraph 3 is replaced by the following: **‘3.** Where the Council has adopted a decision pursuant to paragraph 2 of this Article and, in exceptional circumstances, where coordinated action by competent authorities is necessary to respond to adverse developments which may seriou… + + (16) Article 19 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement… + + (17) Article 21 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Authority shall promote and monitor, within the scope of its powers, the efficient, effective and consistent functioning of the colleges of supervisors where established by legislative acts referred to i… + + (18) Article 22 is amended as follows: (a) the title is replaced by the following: ‘General provisions on systemic risk’; (b) in paragraph 2, the first subparagraph is replaced by the following: **‘2.** The Authority shall, in collaboration with the ESRB, and in accordance with Article 23, develop a… + + (19) in Article 23, paragraph 1 is replaced by the following: **‘1.** The Authority shall, in consultation with the ESRB, develop criteria for the identification and measurement of systemic risk and an adequate stress-testing regime which includes an evaluation of the potential for systemic risk pos… + + (20) in Article 27(2), the third subparagraph is deleted; + + (21) Article 29 is amended as follows: (a) paragraph 1 is amended as follows: (i) the following points are inserted: ‘(aa) establishing Union strategic supervisory priorities in accordance with Article 29a; (ab) establishing coordination groups in accordance with Article 45b to promote supervisory c… + + (22) the following article is inserted: ‘Article 29a Union strategic supervisory priorities Following a discussion in the Board of Supervisors and taking into account contributions received from competent authorities, existing work by the Union Institutions, and analysis, warnings and recommendation… + + (23) Article 30 is replaced by the following: ‘Article 30 Peer reviews of competent authorities **1.** The Authority shall periodically conduct peer reviews of some or all of the activities of competent authorities, to further strengthen consistency and effectiveness in supervisory outcomes. To that… + + (24) Article 31 is amended as follows: (a) the first paragraph is replaced by the following: **‘1.** The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and i… + + (25) the following Article is inserted: ‘Article 31a Information exchange on fitness and propriety The Authority shall, together with the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and with the European Supervisory Authority (European Securities and Marke… + + (26) Article 32 is amended as follows: (a) the title is replaced by the following: ‘Assessment of market developments, including stress tests’; (b) paragraph 1 is replaced by the following: **‘1.** The Authority shall monitor and assess market developments in the area of its competence and, where ne… + + (27) Article 33 is replaced by the following: ‘Article 33 International relations including equivalence **1.** Without prejudice to the respective competences of the Member States and the Union institutions, the Authority may develop contacts and enter into administrative arrangements with regulator… + + (28) Article 34 is deleted; + + (29) Article 36 is amended as follows: (a) paragraph 3 is deleted; (b) paragraphs 4 and 5 are replaced by the following: **‘4.** On receipt of a warning or recommendation from the ESRB addressed to the Authority, the Authority shall discuss that warning or recommendation at the next meeting of the B… + + (30) Article 37 is amended as follows: (a) paragraphs 2 and 3 are replaced by the following: **‘2.** The Banking Stakeholder Group shall be composed of 30 members. Those members shall comprise of:(a) 13 members representing, in balanced proportions, financial institutions operating in the Union of w… + + (31) Article 39 is replaced by the following: ‘Article 39 Decision-making procedures **1.** The Authority shall act in accordance with paragraphs 2 to 6 of this Article when adopting decisions pursuant to Articles 17, 18 and 19. **2.** The Authority shall inform any addressee of a decision of its in… + + (32) Article 40 is amended as follows: (a) in paragraph 1, point (a) is replaced by the following: ‘(a) the Chairperson;’; (b) the following paragraph is added: **‘8.** Where the national public authority referred to in point (b) of paragraph 1 is not responsible for the enforcement of consumer prot… + + (33) Articles 41 and 42 are replaced by the following: ‘Article 41 Internal committees **1.** The Board of Supervisors, on its own initiative or at the request of the Chairperson, may establish internal committees for specific tasks attributed to it. Upon request from the Management Board or from th… + + (34) Article 43 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Board of Supervisors shall give guidance to the work of the Authority and shall be in charge of taking the decisions referred to in Chapter II. The Board of Supervisors shall adopt the opinions, recommen… + + (35) the following Article is inserted: ‘Article 43a Transparency of decisions adopted by the Board of Supervisors Notwithstanding Article 70, within six weeks of each meeting of the Board of Supervisors, the Authority shall, at least provide the European Parliament with a comprehensive and meaningf… + + (36) Article 44 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each voting member shall have one vote. With regard to the acts specified in Articles 10 to 16 of this Regulation and… + + (37) Article 45 is replaced by the following: ‘Article 45 Composition **1.** The Management Board shall be composed of the Chairperson and six members of the Board of Supervisors, elected by and from the voting members of the Board of Supervisors. Other than the Chairperson, each member of the Manag… + + (38) the following Articles are inserted: ‘Article 45a Decision-making **1.** Decisions by the Management Board shall be adopted by simple majority of its members whilst striving for consensus. Each member shall have one vote. The Chairperson shall be a voting member. **2.** The Executive Director a… + + (39) Article 46 is replaced by the following: ‘Article 46 Independence of the Management Board The members of the Management Board shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions or bodies, … + + (40) Article 47 is amended as follows: (a) the following paragraph is inserted: **‘3a.** The Management Board may examine, give an opinion on, and make proposals on all matters, except for tasks laid down in Articles 9a, 9b, 30 as well as Articles 17 and 19 on matters concerning the prevention of th… + + (41) Article 48 is amended as follows: (a) in paragraph 1, the second subparagraph is replaced by the following: ‘The Chairperson shall be responsible for preparing the work of the Board of Supervisors, including setting the agenda to be adopted by the Board of Supervisors, convening the meetings an… + + (42) Article 49 is amended as follows: (a) the title is replaced by the following: ‘Independence of the Chairperson’; (b) the first paragraph is replaced by the following: ‘Without prejudice to the role of the Board of Supervisors in relation to the tasks of the Chairperson, the Chairperson shall ne… + + (43) Article 49a is replaced by the following: ‘Article 49a Expenses The Chairperson shall make public all meetings held with external stakeholders within a period of two weeks following the meeting and any hospitality received. Expenses shall be recorded publicly in accordance with the Staff Regula… + + (44) Article 50 is deleted; + + (45) Article 54 is amended as follows: (a) paragraph 2 is amended as follows: (i) the introductory part is replaced by the following: **‘2.** The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely to ensure cross-sectoral consistency, while considerin… + + (46) Article 55 is amended as follows: (a) paragraph 3 is replaced by the following: **‘3.** The Chairperson of the Joint Committee shall be appointed on an annual rotational basis from among the Chairpersons of the ESAs. The Chairperson of the Joint Committee shall be the second Vice-Chair of the E… + + (47) Articles 56 and 57 are replaced by the following: ‘Article 56 Joint positions and common acts Within the scope of its tasks set out in Chapter II of this Regulation, and in particular with respect to the implementation of Directive 2002/87/EC, where relevant, the Authority shall reach joint pos… + + (48) Article 58 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Board of Appeal of the European Supervisory Authorities is hereby established.’; (b) in paragraph 2, the first subparagraph is replaced by the following: **‘2.** The Board of Appeal shall be composed of … + + (49) in Article 59, paragraph 2 is replaced by the following: **‘2.** Members of the Board of Appeal, and staff of the Authority providing operational and secretariat support, shall not take part in any appeal proceedings in which they have any personal interest, if they have previously been involve… + + (50) in Article 60, paragraph 2 is replaced by the following: **‘2.** The appeal, together with a statement of grounds, shall be filed in writing at the Authority within three months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day… + + (51) the following article is inserted: ‘Article 60a Exceeding of competence by the Authority Any natural or legal person may send reasoned advice to the Commission if that person is of the opinion that the Authority has exceeded its competence, including by failing to respect the principle of propo… − ### art_1 + (52) in Article 62, paragraph 1 is amended as follows: (a) the introductory part is replaced by the following: **‘1.** The revenues of the Authority, a European body in accordance with Article 70 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council (*22) (“the Financia… − Article 1 + (53) Articles 63, 64 and 65 are replaced by the following: ‘Article 63 Establishment of the budget **1.** Each year, the Executive Director shall draw up a provisional draft single programming document of the Authority for the three following financial years setting out the estimated revenue and exp… − Regulation (EU) No 1093/2010 is amended as follows: + (54) in Article 66, paragraph 1 is replaced by the following: **‘1.** For the purposes of combating fraud, corruption and any other illegal activity, Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council (*24) shall apply to the Authority without any restriction. − | (1) | Article 1 is amended as follows:(a)paragraphs 2 and 3 are replaced by the following:‘2. The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 2002/87/EC, Directive 2008/48/EC(*1), Directive 2009/110/EC, Regulation (EU) No 575/2013(*2), Direc… − | --- | --- | − | (a) | paragraphs 2 and 3 are replaced by the following:‘2. The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 2002/87/EC, Directive 2008/48/EC(*1), Directive 2009/110/EC, Regulation (EU) No 575/2013(*2), Directive 2013/36/EU(*3), Directive 2014… − | (b) | paragraph 5 is amended as follows:(i)the first subparagraph is amended as follows:—the introductory part is replaced by the following:‘5. The objective of the Authority shall be to protect the public interest by contributing to the short-, medium- and long-term stability and effectiveness of… − | (i) | the first subparagraph is amended as follows:—the introductory part is replaced by the following:‘5. The objective of the Authority shall be to protect the public interest by contributing to the short-, medium- and long-term stability and effectiveness of the financial system, for the Union … − | — | the introductory part is replaced by the following:‘5. The objective of the Authority shall be to protect the public interest by contributing to the short-, medium- and long-term stability and effectiveness of the financial system, for the Union economy, its citizens and businesses. The Author… − | — | points (e) and (f) are replaced by the following:‘(e)ensuring that the taking of credit and other risks are appropriately regulated and supervised;(f)enhancing customer and consumer protection;’; | − | ‘(e) | ensuring that the taking of credit and other risks are appropriately regulated and supervised; | − | (f) | enhancing customer and consumer protection;’; | − | — | the following points are added:‘(g)enhancing supervisory convergence across the internal market;(h)preventing the use of the financial system for the purposes of money laundering and terrorist financing.’; | − | ‘(g) | enhancing supervisory convergence across the internal market; | − | (h) | preventing the use of the financial system for the purposes of money laundering and terrorist financing.’; | − | (ii) | the second subparagraph is replaced by the following:‘For those purposes, the Authority shall contribute to ensuring the consistent, efficient and effective application of the acts referred to in paragraph 2 of this Article, foster supervisory convergence, and provide opinions in accordance… − | (iii) | the fourth subparagraph is replaced by the following:‘When carrying out its tasks, the Authority shall act independently, objectively and in a non-discriminatory and transparent manner, in the interests of the Union as a whole and shall respect, where relevant, the principle of proportiona… − | (iv) | the following subparagraph is added:‘The content and form of the Authority’s actions and measures, in particular guidelines, recommendations, opinions, questions and answers, draft regulatory standards and draft implementing standards, shall fully respect the applicable provisions of this R… − | (c) | the following paragraph is added:‘6. The Authority shall establish, as an integral part thereof, a Committee advising it as to how, in full compliance with applicable rules, its actions and measures should take account of specific differences prevailing in the sector, pertaining to the natur… + (55) Article 70 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** Members of the Board of Supervisors, and all members of the staff of the Authority, including officials seconded by Member States on a temporary basis, and all other persons carrying out tasks for the Author… − | (2) | Article 2 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. The Authority shall form part of a European system of financial supervision (ESFS). The main objective of the ESFS shall be to ensure that the rules applicable to the financial sector are adequately implemented t… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. The Authority shall form part of a European system of financial supervision (ESFS). The main objective of the ESFS shall be to ensure that the rules applicable to the financial sector are adequately implemented to preserve financial stability and … − | (b) | paragraph 4 is replaced by the following:‘4. In accordance with the principle of sincere cooperation pursuant to Article 4(3) of the Treaty on European Union (TEU), the parties to the ESFS shall cooperate with trust and full mutual respect, in particular in ensuring the flow of appropriate a… − | (c) | in paragraph 5, the following subparagraph is added:‘Without prejudice to national competences, references in this Regulation to supervision shall include all relevant activities of all competent authorities to be carried out pursuant to the legislative acts referred to in Article 1(2).’; | + (56) Article 71 is replaced by the following: ‘Article 71 Data protection This Regulation shall be without prejudice to the obligations of Member States relating to their processing of personal data under Regulation (EU) 2016/679 or the obligations of the Authority relating to its processing of pers… − | (3) | Article 3 is replaced by the following:‘Article 3Accountability of the Authorities1. The Authorities referred to in points (a) to (d) of Article 2(2) shall be accountable to the European Parliament and to the Council. The European Central Bank shall be accountable to the European Parliament … − | --- | --- | + (57) in Article 72, paragraph 2 is replaced by the following: **‘2.** The Management Board shall adopt practical measures for applying Regulation (EC) No 1049/2001.’; − | (4) | Article 4 is amended as follows:(a)point (1) is replaced by the following:‘(1)“financial institution” means any undertaking that is subject to regulation and supervision pursuant to any of the legislative acts referred to in Article 1(2);’;(b)the following point is inserted:‘(1a)“financial s… − | --- | --- | − | (a) | point (1) is replaced by the following:‘(1)“financial institution” means any undertaking that is subject to regulation and supervision pursuant to any of the legislative acts referred to in Article 1(2);’; | − | ‘(1) | “financial institution” means any undertaking that is subject to regulation and supervision pursuant to any of the legislative acts referred to in Article 1(2);’; | − | (b) | the following point is inserted:‘(1a)“financial sector operator” means an “entity” as referred to in Article 2 of Directive (EU) 2015/849, which is either a financial institution as defined in point (1) of this Article or in point (1) of Article 4 of Regulation (EU) No 1094/2010 or a “financ… − | ‘(1a) | “financial sector operator” means an “entity” as referred to in Article 2 of Directive (EU) 2015/849, which is either a financial institution as defined in point (1) of this Article or in point (1) of Article 4 of Regulation (EU) No 1094/2010 or a “financial market participant” as defined … − | (c) | point (2) is replaced by the following:‘(2)“competent authorities” means:(i)competent authorities as defined in point (40) of Article 4(1) of Regulation (EU) No 575/2013, including the European Central Bank with regard to matters relating to the tasks conferred on it by Regulation (EU) No 10… − | ‘(2) | “competent authorities” means:(i)competent authorities as defined in point (40) of Article 4(1) of Regulation (EU) No 575/2013, including the European Central Bank with regard to matters relating to the tasks conferred on it by Regulation (EU) No 1024/2013;(ii)with regard to Directive 2002/… − | (i) | competent authorities as defined in point (40) of Article 4(1) of Regulation (EU) No 575/2013, including the European Central Bank with regard to matters relating to the tasks conferred on it by Regulation (EU) No 1024/2013; | − | (ii) | with regard to Directive 2002/65/EC, the authorities and bodies competent for ensuring compliance with the requirements of that Directive by financial institutions; | − | (iii) | with regard to Directive (EU) 2015/849, the authorities and bodies that supervise financial sector operators and are competent for ensuring their compliance with the requirements of that Directive; | − | (iv) | with regard to deposit guarantee schemes, bodies which administer deposit guarantee schemes pursuant to Directive 2014/49/EU or, where the operation of the deposit guarantee scheme is administered by a private company, the public authority supervising those schemes pursuant to that Directiv… − | (v) | with regard to Directive 2014/59/EU of the European Parliament and of the Council(*12) and to Regulation (EU) No 806/2014 of the European Parliament and of the Council(*13), the resolution authorities designated in accordance with Article 3 of Directive 2014/59/EU, the Single Resolution Boar… − | (vi) | “competent authorities” as referred to in Directive 2014/17/EU of the European Parliament and of the Council(*14), in Regulation (EU) 2015/751 of the European Parliament and of the Council(*15), in Directive (EU) 2015/2366, in Directive 2009/110/EC of the European Parliament and of the Coun… − | (vii) | “bodies and authorities” as referred to in Article 20 of Directive 2008/48/EC. | + (58) in Article 74, the first paragraph is replaced by the following: ‘The necessary arrangements concerning the accommodation to be provided for the Authority in the Member State where its seat is located and the facilities to be made available by that Member State, as well as the specific rules ap… − | (5) | Article 8 is amended as follows:(a)paragraph 1 is amended as follows:(i)point (a) is replaced by the following:‘(a)based on the legislative acts referred to in Article 1(2), to contribute to the establishment of high-quality common regulatory and supervisory standards and practices, in parti… − | --- | --- | − | (a) | paragraph 1 is amended as follows:(i)point (a) is replaced by the following:‘(a)based on the legislative acts referred to in Article 1(2), to contribute to the establishment of high-quality common regulatory and supervisory standards and practices, in particular by developing draft regulator… − | (i) | point (a) is replaced by the following:‘(a)based on the legislative acts referred to in Article 1(2), to contribute to the establishment of high-quality common regulatory and supervisory standards and practices, in particular by developing draft regulatory and implementing technical standard… − | ‘(a) | based on the legislative acts referred to in Article 1(2), to contribute to the establishment of high-quality common regulatory and supervisory standards and practices, in particular by developing draft regulatory and implementing technical standards, guidelines, recommendations, and other … − | (ii) | point (aa) is replaced by the following:‘(aa)to develop and maintain an up-to-date Union supervisory handbook on the supervision of financial institutions in the Union which is to set out supervisory best practices and high-quality methodologies and processes and takes into account, inter a… − | ‘(aa) | to develop and maintain an up-to-date Union supervisory handbook on the supervision of financial institutions in the Union which is to set out supervisory best practices and high-quality methodologies and processes and takes into account, inter alia, changing business practices and busines… − | (iii) | the following point is inserted:‘(ab)to develop and maintain an up-to-date Union resolution handbook on the resolution of financial institutions in the Union which is to set out best practices and high-quality methodologies and processes for resolution, taking into account the work of the … − | ‘(ab) | to develop and maintain an up-to-date Union resolution handbook on the resolution of financial institutions in the Union which is to set out best practices and high-quality methodologies and processes for resolution, taking into account the work of the Single Resolution Board, and changing… − | (iv) | point (b) is replaced by the following:‘(b)to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the legislative acts referred to in Article 1(2), … − | ‘(b) | to contribute to the consistent application of legally binding Union acts, in particular by contributing to a common supervisory culture, ensuring consistent, efficient and effective application of the legislative acts referred to in Article 1(2), preventing regulatory arbitrage, fostering … − | (v) | points (e) to (h) are replaced by the following:‘(e)to organise and conduct peer reviews of competent authorities, and, in that context, to issue guidelines and recommendations and to identify best practices, with a view to strengthening consistency in supervisory outcomes;(f)to monitor and … − | ‘(e) | to organise and conduct peer reviews of competent authorities, and, in that context, to issue guidelines and recommendations and to identify best practices, with a view to strengthening consistency in supervisory outcomes; | − | (f) | to monitor and assess market developments in the area of its competence including where relevant, developments relating to trends in credit, in particular, to households and SMEs and in innovative financial services duly considering developments relating to environmental, social and governan… − | (g) | to undertake market analyses to inform the discharge of the Authority’s functions; | − | (h) | to foster, where relevant, depositor, consumer and investor protection, in particular with regards to shortcomings in a cross-border context and taking related risks into account;’; | − | (vi) | the following point is inserted:‘(ia)to contribute to the establishment of a common Union financial data strategy;’; | − | ‘(ia) | to contribute to the establishment of a common Union financial data strategy;’; | − | (vii) | the following point is inserted:‘(ka)to publish on its website, and to update regularly, all regulatory technical standards, implementing technical standards, guidelines, recommendations and questions and answers for each legislative act referred to in Article 1(2), including overviews tha… − | ‘(ka) | to publish on its website, and to update regularly, all regulatory technical standards, implementing technical standards, guidelines, recommendations and questions and answers for each legislative act referred to in Article 1(2), including overviews that concern the state of play of ongoin… − | (viii) | the following point is added:‘(l)to contribute to the prevention of the use of the financial system for the purposes of money laundering and terrorist financing, including by promoting consistent, efficient and effective application of legislative acts referred to in Article 1(2) of this … − | ‘(l) | to contribute to the prevention of the use of the financial system for the purposes of money laundering and terrorist financing, including by promoting consistent, efficient and effective application of legislative acts referred to in Article 1(2) of this Regulation, Article 1(2) of Regulat… − | (b) | in paragraph 1a, point (b) is replaced by the following:‘(b)with due regard to the objective to ensure the safety and soundness of financial institutions, take fully into account the different types, business models and sizes of financial institutions; and’; | − | ‘(b) | with due regard to the objective to ensure the safety and soundness of financial institutions, take fully into account the different types, business models and sizes of financial institutions; and’; | − | (c) | in paragraph 1a, the following point is added:‘(c)take account of technological innovation, innovative and sustainable business models, and the integration of environmental, social and governance related factors.’; | − | ‘(c) | take account of technological innovation, innovative and sustainable business models, and the integration of environmental, social and governance related factors.’; | − | (d) | paragraph 2 is amended as follows:(i)the following point is inserted:‘(ca)issue recommendations, as laid down in Article 29a;’;(ii)the following point is inserted:‘(da)issue warnings in accordance with Article 9(3);’;(iii)point (g) is replaced by the following:‘(g)issue opinions to the Europ… − | (i) | the following point is inserted:‘(ca)issue recommendations, as laid down in Article 29a;’; | − | ‘(ca) | issue recommendations, as laid down in Article 29a;’; | − | (ii) | the following point is inserted:‘(da)issue warnings in accordance with Article 9(3);’; | − | ‘(da) | issue warnings in accordance with Article 9(3);’; | − | (iii) | point (g) is replaced by the following:‘(g)issue opinions to the European Parliament, to the Council, or to the Commission as provided for in Article 16a;’; | − | ‘(g) | issue opinions to the European Parliament, to the Council, or to the Commission as provided for in Article 16a;’; | − | (iv) | the following points are inserted:‘(ga)issue answers to questions, as laid down in Article 16b;(gb)take action in accordance with Article 9c;’; | − | ‘(ga) | issue answers to questions, as laid down in Article 16b; | − | (gb) | take action in accordance with Article 9c;’; | − | (e) | paragraph 2a is replaced by the following:‘3. When carrying out the tasks referred to in paragraph 1 and exercising the powers referred to in paragraph 2, the Authority shall act based on and within the limits of the legislative framework and shall have due regard to the principle of proport… + (59) Article 76 is replaced by the following: ‘Article 76 Relationship with the Committee of European Banking Supervisors The Authority shall be considered the legal successor of Committee of European Banking Supervisors (CEBS). By the date of establishment of the Authority, all assets and liabiliti… − | (6) | Article 9 is amended as follows:(a)paragraph 1 is amended as follows:(i)point (a) is replaced by the following:‘(a)collecting, analysing and reporting on consumer trends, such as the development of costs and charges of retail financial services and products in Member States;’;(ii)the followi… − | --- | --- | − | (a) | paragraph 1 is amended as follows:(i)point (a) is replaced by the following:‘(a)collecting, analysing and reporting on consumer trends, such as the development of costs and charges of retail financial services and products in Member States;’;(ii)the following points are inserted:‘(aa)underta… − | (i) | point (a) is replaced by the following:‘(a)collecting, analysing and reporting on consumer trends, such as the development of costs and charges of retail financial services and products in Member States;’; | − | ‘(a) | collecting, analysing and reporting on consumer trends, such as the development of costs and charges of retail financial services and products in Member States;’; | − | (ii) | the following points are inserted:‘(aa)undertaking in-depth thematic reviews of market conduct, building a common understanding of market practices in order to identify potential problems and analyse their impact;(ab)developing retail risk indicators for the timely identification of potenti… − | ‘(aa) | undertaking in-depth thematic reviews of market conduct, building a common understanding of market practices in order to identify potential problems and analyse their impact; | − | (ab) | developing retail risk indicators for the timely identification of potential causes of consumer harm;’; | − | (iii) | the following points are added:‘(e)contributing to a level playing field in the internal market where consumers and other users of financial services have fair access to financial services and products;(f)fostering further developments in terms of regulation and supervision which could fac… − | ‘(e) | contributing to a level playing field in the internal market where consumers and other users of financial services have fair access to financial services and products; | − | (f) | fostering further developments in terms of regulation and supervision which could facilitate deeper harmonisation and integration at the Union level; | − | (g) | coordinating mystery shopping activities of competent authorities, if applicable.’; | − | (b) | paragraph 2 is replaced by the following:‘2. The Authority shall monitor new and existing financial activities and may adopt guidelines and recommendations with a view to promoting the safety and soundness of markets, and convergence and effectiveness of regulatory and supervisory practices.… − | (c) | paragraphs 4 and 5 are replaced by the following:‘4. The Authority shall establish, as an integral part thereof, a Committee on consumer protection and financial innovation, which brings together all relevant competent authorities and authorities responsible for consumer protection with a vi… + (60) Article 81 is amended as follows: (a) paragraph 1 is amended as follows: (i) the introductory sentence is replaced by the following: **‘1.** By 31 December 2021, and every three years thereafter, the Commission shall publish a general report on the experience acquired as a result of the operati… − | (7) | the following articles are inserted:‘Article 9aSpecial tasks related to preventing and countering money laundering and terrorist financing1. The Authority shall, within its respective competences, take a leading, coordinating and monitoring role in promoting integrity, transparency and secur… − | --- | --- | − | (a) | collecting information from competent authorities relating to weaknesses identified during ongoing supervision and authorisation procedures in the processes and procedures, governance arrangements, fitness and propriety, acquisition of qualifying holdings, business models and activities of f… − | (i) | a breach or a potential breach by a financial sector operator of such requirements, | − | (ii) | the inappropriate or ineffective application by a financial sector operator of such requirements, or | − | (iii) | the inappropriate or ineffective application by a financial sector operator of its internal policies and procedures to comply with such requirements. | − | (b) | coordinating closely, and, where appropriate, exchanging information, with competent authorities, including the European Central Bank with regard to matters relating to the tasks conferred on it by Regulation (EU) No 1024/2013, and with authorities entrusted with the public duty of supervisi… − | (c) | developing common guidance and standards for preventing and countering money laundering and terrorist financing in the financial sector and promoting their consistent implementation in particular by developing draft regulatory and implementing technical standards, in line with the mandates l… − | (d) | providing assistance to competent authorities, following their specific requests; | − | (e) | monitoring market developments and assessing vulnerabilities and risks in relation to money laundering and terrorist financing in the financial sector. | − | (a) | financial institutions as defined in point (1) of Article 4 of Regulation (EU) No 1094/2010 or any of the competent authorities supervising them, or | − | (b) | financial market participants as defined in point (1) of Article 4 of Regulation (EU) No 1095/2010 or any of the competent authorities supervising them, | − | (a) | the Authority considers that provisions contained in such act may directly conflict with another relevant act; | − | (b) | where the act is one of the legislative acts referred to in Article 1(2), the absence of delegated or implementing acts that would complement or specify the act in question would raise legitimate doubts concerning the legal consequences flowing from the legislative act or its proper applicat… − | (c) | the absence of guidelines and recommendations as referred to in Article 16 would raise practical difficulties concerning the application of the relevant legislative act. | + ### Article 2 — Amendments to Regulation (EU) No 1094/2010 − | (8) | Article 10 is amended as follows:(a)paragraph 1 is amended as follows:(i)the first subparagraph is replaced by the following:‘1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Artic… − | --- | --- | − | (a) | paragraph 1 is amended as follows:(i)the first subparagraph is replaced by the following:‘1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consi… − | (i) | the first subparagraph is replaced by the following:‘1. Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to Article 290 TFEU in order to ensure consistent harmonisation in the areas spec… − | (ii) | the third subparagraph is replaced by the following:‘Before submitting them to the Commission, the Authority shall conduct open public consultations on draft regulatory technical standards and shall analyse the potential related costs and benefits, unless such consultations and analyses are… − | (iii) | the fourth subparagraph is deleted; | − | (iv) | the fifth and the sixth subparagraphs are replaced by the following:‘Within three months of receipt of a draft regulatory technical standard, the Commission shall decide whether to adopt it. The Commission shall inform the European Parliament and the Council in due time where the adoption c… − | (b) | paragraph 2 is replaced by the following:‘2. Where the Authority has not submitted a draft regulatory technical standard within the time limit set out in the legislative acts referred to in Article 1(2), the Commission may request such a draft within a new time limit. The Authority shall inf… − | (c) | in paragraph 3, the second subparagraph is replaced by the following:‘The Commission shall conduct open public consultations on draft regulatory technical standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation t… − | (d) | paragraph 4 is replaced by the following:‘4. The regulatory technical standards shall be adopted by means of regulations or decisions. The words “regulatory technical standard” shall appear in the title of such regulations or decisions. Those standards shall be published in the Official Jour… + Regulation (EU) No 1094/2010 is amended as follows: − | (9) | in Article 13(1), the second subparagraph is deleted; | − | --- | --- | + (1) Article 1 is amended as follows: (a) paragraphs 2 and 3 are replaced by the following: **‘2.** The Authority shall act within the powers conferred by this Regulation and within the scope of Directive 2009/138/EC with the exception of Title IV thereof, of Directive 2002/87/EC, Directive (EU) 2016… − | (10) | Article 15 is amended as follows:(a)paragraphs 1 and 2 are replaced by the following:‘1. Where the European Parliament and the Council confer implementing powers on the Commission to adopt implementing technical standards by means of implementing acts pursuant to Article 291 TFEU, in the ar… − | --- | --- | − | (a) | paragraphs 1 and 2 are replaced by the following:‘1. Where the European Parliament and the Council confer implementing powers on the Commission to adopt implementing technical standards by means of implementing acts pursuant to Article 291 TFEU, in the areas specifically set out in the legis… − | (b) | in paragraph 3, the second subparagraph is replaced by the following:‘The Commission shall conduct open public consultations on draft implementing technical standards and analyse the potential related costs and benefits, unless such consultations and analyses are disproportionate in relation… − | (c) | paragraph 4 is replaced by the following:‘4. The implementing technical standards shall be adopted by means of regulations or decisions. The words “implementing technical standard” shall appear in the title of such regulations or decisions. Those standards shall be published in the Official … + (2) Article 2 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Authority shall form part of a European system of financial supervision (ESFS). The main objective of the ESFS shall be to ensure that the rules applicable to the financial sector are adequately implemente… − | (11) | Article 16 is amended as follows:(a)paragraphs 1 and 2 are replaced by the following:‘1. The Authority shall, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, and to ensuring the common, uniform and consistent application of Union law, i… − | --- | --- | − | (a) | paragraphs 1 and 2 are replaced by the following:‘1. The Authority shall, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, and to ensuring the common, uniform and consistent application of Union law, issue guidelines addressed to all comp… − | (b) | the following paragraph is inserted:‘2a. Guidelines and recommendations shall not merely refer to, or reproduce, elements of legislative acts. Before issuing a new guideline or recommendation, the Authority shall first review existing guidelines and recommendations, in order to avoid any dup… − | (c) | paragraph 4 is replaced by the following:‘4. In the report referred to in Article 43(5), the Authority shall inform the European Parliament, the Council and the Commission of the guidelines and recommendations that have been issued.’; | + (3) Article 3 is replaced by the following: ‘Article 3 Accountability of the Authorities **1.** The Authorities referred to in points (a) to (d) of Article 2(2) shall be accountable to the European Parliament and to the Council. **2.** In accordance with Article 226 TFEU, the Authority shall fully c… − | (12) | the following articles are inserted:‘Article 16aOpinions1. The Authority may, upon a request from the European Parliament, from the Council or from the Commission, or on its own initiative, provide opinions to the European Parliament, to the Council and to the Commission on all issues relat… − | --- | --- | + (4) in Article 4, point (2), point (ii) is replaced by the following: ‘(ii) with regard to Directive 2002/65/EC, the authorities and bodies competent for ensuring compliance with the requirements of that Directive by financial institutions;’; − | (13) | Article 17 is amended as follows:(a)paragraph 2 is amended as follows:(i)the first subparagraph is replaced by the following:‘2. Upon request from one or more competent authorities, the European Parliament, the Council, the Commission, the Banking Stakeholder Group, or on its own initiative… − | --- | --- | − | (a) | paragraph 2 is amended as follows:(i)the first subparagraph is replaced by the following:‘2. Upon request from one or more competent authorities, the European Parliament, the Council, the Commission, the Banking Stakeholder Group, or on its own initiative, including when this is based on wel… − | (i) | the first subparagraph is replaced by the following:‘2. Upon request from one or more competent authorities, the European Parliament, the Council, the Commission, the Banking Stakeholder Group, or on its own initiative, including when this is based on well- substantiated information from nat… − | (ii) | the following subparagraphs are added:‘Without prejudice to the powers laid down in Article 35, the Authority may, after having informed the competent authority concerned, address a duly justified and reasoned request for information directly to other competent authorities whenever requesti… − | (b) | the following paragraph is inserted:‘2a. Without prejudice to powers under this Regulation and before issuing a recommendation as set out in paragraph 3, the Authority shall engage with the competent authority concerned, where it considers such engagement appropriate in order to resolve a br… − | (c) | paragraphs 6 and 7 are replaced by the following:‘6. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the formal opinion referred to in paragraph 4 of this Article within the period specified therein, and where i… + (5) In Article 7 the following paragraph is added: ‘The location of the seat of the Authority shall not affect the Authority’s execution of its tasks and powers, the organisation of its governance structure, the operation of its main organisation, or the main financing of its activities, while allow… − | (14) | the following article is inserted:‘Article 17aProtection of reporting persons1. The Authority shall have in place dedicated reporting channels for receiving and handling information provided by a natural or legal person reporting on actual or potential breaches, abuse of law, or non-applica… − | --- | --- | + (6) Article 8 is amended as follows: (a) paragraph 1 is amended as follows: (i) point (a) is replaced by the following: ‘(a) based on the legislative acts referred to in Article 1(2), to contribute to the establishment of high-quality common regulatory and supervisory standards and practices, in par… − | (15) | in Article 18, paragraph 3 is replaced by the following:‘3. Where the Council has adopted a decision pursuant to paragraph 2 of this Article and, in exceptional circumstances, where coordinated action by competent authorities is necessary to respond to adverse developments which may serious… − | --- | --- | + (7) Article 9 is amended as follows: (a) paragraph 1 is amended as follows: (i) point (a) is replaced by the following: ‘(a) collecting, analysing and reporting on consumer trends, such as the development of costs and charges of retail financial services and products in Member States;’; (ii) the fol… − | (16) | Article 19 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set ou… − | (a) | at the request of one or more of the competent authorities concerned where a competent authority disagrees with the procedure or content of an action, proposed action, or inactivity of another competent authority; | − | (b) | in cases where the legislative acts referred to in Article 1(2) provide that the Authority may assist, on its own initiative, where on the basis of objective reasons, disagreement can be determined between competent authorities. | − | (b) | the following paragraphs are inserted:‘1a. The competent authorities concerned shall, in the following cases, notify the Authority without undue delay that an agreement has not been reached:(a)where a time limit for reaching an agreement between competent authorities has been provided for in… − | (a) | where a time limit for reaching an agreement between competent authorities has been provided for in the legislative acts referred to in Article 1(2), and either of the following occurs:(i)the time limit has expired; or(ii)at least two competent authorities concerned conclude that a disagreem… − | (i) | the time limit has expired; or | − | (ii) | at least two competent authorities concerned conclude that a disagreement exists, on the basis of objective reasons; | − | (b) | where no time limit for reaching an agreement between competent authorities has been provided for in the legislative acts referred to in Article 1(2), and either of the following occurs:(i)at least two competent authorities concerned conclude that a disagreement exists on the basis of object… − | (i) | at least two competent authorities concerned conclude that a disagreement exists on the basis of objective reasons; or | − | (ii) | two months have elapsed from the date of receipt by a competent authority of a request from another competent authority to take certain action in order to comply with those acts and the requested authority has not yet adopted a decision that satisfies the request. | − | (c) | paragraph 3 is replaced by the following:‘Where the competent authorities concerned fail to reach an agreement within the conciliation phase referred to in paragraph 2, the Authority may take a decision requiring those authorities to take specific action, or to refrain from certain action, i… − | (d) | the following paragraph is inserted:‘3a. The Authority shall notify the competent authorities concerned of the conclusion of the procedures under paragraphs 2 and 3 together with, where applicable, its decision taken under paragraph 3.’; | − | (e) | paragraph 4 is replaced by the following:‘4. Without prejudice to the powers of the Commission pursuant to Article 258 TFEU, where a competent authority does not comply with the decision of the Authority, and thereby fails to ensure that a financial institution or, in the context of matters … + (8) the following article is inserted: ‘Article 9a No action letters **1.** The Authority shall take the measures referred to in paragraph 2 of this Article only in exceptional circumstances when it considers that the application of one of the legislative acts referred to in Article 1(2), or of any … − | (17) | Article 21 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. The Authority shall promote and monitor, within the scope of its powers, the efficient, effective and consistent functioning of the colleges of supervisors where established by legislative acts referred to in A… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. The Authority shall promote and monitor, within the scope of its powers, the efficient, effective and consistent functioning of the colleges of supervisors where established by legislative acts referred to in Article 1(2) and foster the consistenc… − | (b) | in paragraph 2, third subparagraph, point (b) is replaced by the following:‘(b)initiate and coordinate Union-wide stress tests in accordance with Article 32 to assess the resilience of financial institutions, in particular the systemic risk posed by financial institutions as referred to in A… − | ‘(b) | initiate and coordinate Union-wide stress tests in accordance with Article 32 to assess the resilience of financial institutions, in particular the systemic risk posed by financial institutions as referred to in Article 23, to adverse market developments, and evaluate the potential for syst… − | (c) | paragraph 3 is replaced by the following:‘3. The Authority may develop draft regulatory and implementing technical standards in accordance with the empowerments laid down in the legislative acts referred to in Article 1(2), and in accordance with Articles 10 to 15, to ensure uniform conditio… + (9) Article 10 is amended as follows: (a) paragraph 1 is amended as follows: (i) the first subparagraph is replaced by the following: **‘1.** Where the European Parliament and the Council delegate power to the Commission to adopt regulatory technical standards by means of delegated acts pursuant to … − | (18) | Article 22 is amended as follows:(a)the title is replaced by the following:‘General provisions on systemic risk’;(b)in paragraph 2, the first subparagraph is replaced by the following:‘2. The Authority shall, in collaboration with the ESRB, and in accordance with Article 23, develop a commo… − | --- | --- | − | (a) | the title is replaced by the following:‘General provisions on systemic risk’; | − | (b) | in paragraph 2, the first subparagraph is replaced by the following:‘2. The Authority shall, in collaboration with the ESRB, and in accordance with Article 23, develop a common set of quantitative and qualitative indicators (risk dashboard) to identify and measure systemic risk.’; | − | (c) | paragraph 4 is replaced by the following:‘4. Upon request from one or more competent authorities, the European Parliament, the Council or the Commission, or on its own initiative, the Authority may conduct an inquiry into a particular type of financial institution or type of product or type … + (10) in Article 13(1), the second subparagraph is deleted; − | (19) | in Article 23, paragraph 1 is replaced by the following:‘1. The Authority shall, in consultation with the ESRB, develop criteria for the identification and measurement of systemic risk and an adequate stress-testing regime which includes an evaluation of the potential for systemic risk pose… − | --- | --- | + (11) Article 15 is amended as follows: (a) paragraphs 1 and 2 are replaced by the following: **‘1.** Where the European Parliament and the Council confer implementing powers on the Commission to adopt implementing technical standards by means of implementing acts pursuant to Article 291 TFEU, in the… − | (20) | in Article 27(2), the third subparagraph is deleted; | − | --- | --- | + (12) Article 16 is amended as follows: (a) paragraphs 1 and 2 are replaced by the following: **‘1.** The Authority shall, with a view to establishing consistent, efficient and effective supervisory practices within the ESFS, and to ensuring the common, uniform and consistent application of Union law… − | (21) | Article 29 is amended as follows:(a)paragraph 1 is amended as follows:(i)the following points are inserted:‘(aa)establishing Union strategic supervisory priorities in accordance with Article 29a;(ab)establishing coordination groups in accordance with Article 45b to promote supervisory conve… − | --- | --- | − | (a) | paragraph 1 is amended as follows:(i)the following points are inserted:‘(aa)establishing Union strategic supervisory priorities in accordance with Article 29a;(ab)establishing coordination groups in accordance with Article 45b to promote supervisory convergence and identify best practices;’;… − | (i) | the following points are inserted:‘(aa)establishing Union strategic supervisory priorities in accordance with Article 29a;(ab)establishing coordination groups in accordance with Article 45b to promote supervisory convergence and identify best practices;’; | − | ‘(aa) | establishing Union strategic supervisory priorities in accordance with Article 29a; | − | (ab) | establishing coordination groups in accordance with Article 45b to promote supervisory convergence and identify best practices;’; | − | (ii) | point (b) is replaced by the following:‘(b)promoting an effective bilateral and multilateral exchange of information between competent authorities, pertaining to all relevant issues, including cyber security and cyber-attacks, with full respect for the applicable confidentiality and data pr… − | ‘(b) | promoting an effective bilateral and multilateral exchange of information between competent authorities, pertaining to all relevant issues, including cyber security and cyber-attacks, with full respect for the applicable confidentiality and data protection provisions provided for in the rel… − | (iii) | point (e) is replaced by the following:‘(e)establishing sectoral and cross-sectoral training programmes, including with respect to technological innovation, facilitating personnel exchanges and encouraging competent authorities to intensify the use of secondment schemes and other tools;’; … − | ‘(e) | establishing sectoral and cross-sectoral training programmes, including with respect to technological innovation, facilitating personnel exchanges and encouraging competent authorities to intensify the use of secondment schemes and other tools;’; | − | (iv) | the following point is added:‘(f)putting in place a monitoring system to assess material environmental, social and governance-related risks, taking into account the Paris Agreement to the United Nations Framework Convention on Climate Change;’; | − | ‘(f) | putting in place a monitoring system to assess material environmental, social and governance-related risks, taking into account the Paris Agreement to the United Nations Framework Convention on Climate Change;’; | − | (b) | paragraph 2 is replaced by the following:‘2. The Authority may, as appropriate, develop new practical instruments and convergence tools to promote common supervisory approaches and practices.For the purpose of establishing a common supervisory culture, the Authority shall develop and maintai… + (13) the following articles are inserted: ‘Article 16a Opinions **1.** The Authority may, upon a request from the European Parliament, from the Council or from the Commission, or on its own initiative, provide opinions to the European Parliament, to the Council and to the Commission on all issues re… − | (22) | the following article is inserted:‘Article 29aUnion strategic supervisory prioritiesFollowing a discussion in the Board of Supervisors and taking into account contributions received from competent authorities, existing work by the Union Institutions, and analysis, warnings and recommendatio… − | --- | --- | + (14) Article 17 is amended as follows: (a) paragraph 2 is amended as follows: (i) the first subparagraph is replaced by the following: **‘2.** Upon request from one or more competent authorities, the European Parliament, the Council, the Commission, the relevant Stakeholder Group, or on its own init… − | (23) | Article 30 is replaced by the following:‘Article 30Peer reviews of competent authorities1. The Authority shall periodically conduct peer reviews of some or all of the activities of competent authorities, to further strengthen consistency and effectiveness in supervisory outcomes. To that en… − | --- | --- | − | (a) | the adequacy of resources, the degree of independence, and governance arrangements of the competent authority, with particular regard to the effective application of the legislative acts referred to in Article 1(2) and the capacity to respond to market developments; | − | (b) | the effectiveness and the degree of convergence reached in the application of Union law and in supervisory practice, including regulatory technical standards and implementing technical standards, guidelines and recommendations adopted pursuant to Articles 10 to 16, and the extent to which th… − | (c) | the application of best practices developed by competent authorities whose adoption might be of benefit for other competent authorities; | − | (d) | the effectiveness and the degree of convergence reached with regard to the enforcement of the provisions adopted in the implementation of Union law, including the administrative sanctions and other administrative measures imposed against persons responsible where those provisions have not be… + (15) the following article is inserted: ‘Article 17a Protection of reporting persons **1.** The Authority shall have in place dedicated reporting channels for receiving and handling information provided by a natural or legal person reporting on actual or potential breaches, abuse of law, or non-appl… − | (24) | Article 31 is amended as follows:(a)the first paragraph is replaced by the following:‘1. The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and inte… − | --- | --- | − | (a) | the first paragraph is replaced by the following:‘1. The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or the sta… − | (b) | the second paragraph is amended as follows:(i)the introductory part is replaced by the following:‘2. The Authority shall promote a coordinated Union response, inter alia, by:’;(ii)point (e) is replaced by the following:‘(e)taking appropriate measures in the event of developments which may je… − | (i) | the introductory part is replaced by the following:‘2. The Authority shall promote a coordinated Union response, inter alia, by:’; | − | (ii) | point (e) is replaced by the following:‘(e)taking appropriate measures in the event of developments which may jeopardise the functioning of the financial markets with a view to the coordination of actions undertaken by relevant competent authorities;’; | − | ‘(e) | taking appropriate measures in the event of developments which may jeopardise the functioning of the financial markets with a view to the coordination of actions undertaken by relevant competent authorities;’; | − | (iii) | the following point is inserted:‘(ea)taking appropriate measures to coordinate actions undertaken by relevant competent authorities with a view to facilitating the entry into the market of actors or products relying on technological innovation;’; | − | ‘(ea) | taking appropriate measures to coordinate actions undertaken by relevant competent authorities with a view to facilitating the entry into the market of actors or products relying on technological innovation;’; | − | (c) | the following paragraph is added:‘3. In order to contribute to the establishment of a common European approach towards technological innovation, the Authority shall promote supervisory convergence, with the support, where relevant, of the Committee on consumer protection and financial innova… + (16) in Article 18, paragraph 3 is replaced by the following: **‘3.** Where the Council has adopted a decision pursuant to paragraph 2 of this Article and, in exceptional circumstances, where coordinated action by competent authorities is necessary to respond to adverse developments which may seriou… − | (25) | the following Article is inserted:‘Article 31aInformation exchange on fitness and proprietyThe Authority shall, together with the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and with the European Supervisory Authority (European Securities and Mark… − | --- | --- | + (17) Article 19 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement… − | (26) | Article 32 is amended as follows:(a)the title is replaced by the following:‘Assessment of market developments, including stress tests’;(b)paragraph 1 is replaced by the following:‘1. The Authority shall monitor and assess market developments in the area of its competence and, where necessar… − | --- | --- | − | (a) | the title is replaced by the following:‘Assessment of market developments, including stress tests’; | − | (b) | paragraph 1 is replaced by the following:‘1. The Authority shall monitor and assess market developments in the area of its competence and, where necessary, inform the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authorit… − | (c) | paragraph 2 is amended as follows:(i)the introductory part is replaced by the following:‘2. The Authority shall initiate and coordinate Union-wide assessments of the resilience of financial institutions to adverse market developments. To that end, it shall develop:’;(ii)point (a) is replaced… − | (i) | the introductory part is replaced by the following:‘2. The Authority shall initiate and coordinate Union-wide assessments of the resilience of financial institutions to adverse market developments. To that end, it shall develop:’; | − | (ii) | point (a) is replaced by the following:‘(a)common methodologies for assessing the effect of economic scenarios on a financial institution’s financial position taking into account inter alia risks stemming from adverse environmental developments;’; | − | ‘(a) | common methodologies for assessing the effect of economic scenarios on a financial institution’s financial position taking into account inter alia risks stemming from adverse environmental developments;’; | − | (iii) | the following point is inserted:‘(aa)common methodologies for identifying financial institutions to be included in Union-wide assessments;’; | − | ‘(aa) | common methodologies for identifying financial institutions to be included in Union-wide assessments;’; | − | (iv) | points (c) and (d) are replaced by the following:‘(c)common methodologies for assessing the effect of particular products or distribution processes on a financial institution;(d)common methodologies for asset evaluation, as necessary, for the purpose of the stress testing; and’; | − | ‘(c) | common methodologies for assessing the effect of particular products or distribution processes on a financial institution; | − | (d) | common methodologies for asset evaluation, as necessary, for the purpose of the stress testing; and’; | − | (v) | the following point is added:‘(e)common methodologies for assessing the effect of environmental risks on the financial stability of financial institutions.’; | − | ‘(e) | common methodologies for assessing the effect of environmental risks on the financial stability of financial institutions.’; | − | (vi) | the following subparagraph is added:‘For the purposes of this paragraph, the Authority shall cooperate with the ESRB.’; | − | (d) | in paragraph 3, the first subparagraph is replaced by the following:‘3. Without prejudice to the tasks of the ESRB set out in Regulation (EU) No 1092/2010, the Authority shall, once a year, and more frequently where necessary, provide assessments to the European Parliament, to the Council, t… − | (e) | paragraph 3b is replaced by the following:‘3b. The Authority may request that the competent authorities require that financial institutions make information that they must provide under paragraph 3a subject to an independent audit.’; | + (18) Article 21 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Authority shall, promote and monitor within the scope of its powers, the efficient, effective and consistent functioning of the colleges of supervisors where established by legislative acts referred to i… − | (27) | Article 33 is replaced by the following:‘Article 33International relations including equivalence1. Without prejudice to the respective competences of the Member States and the Union institutions, the Authority may develop contacts and enter into administrative arrangements with regulatory, … − | --- | --- | − | (a) | the mechanisms which allow the Authority to obtain relevant information, including information on the regulatory regime, the supervisory approach, relevant market developments and any changes that may affect the equivalence decision; | − | (b) | to the extent necessary for the follow-up of such equivalence decisions, the procedures concerning the coordination of supervisory activities including, where necessary, on-site inspections. | + (19) Article 22 is amended as follows: (a) the title is replaced by the following: ‘General provisions on systemic risk’; (b) in paragraph 2, the first subparagraph is replaced by the following: **‘2.** The Authority shall, in collaboration with the ESRB, and in accordance with Article 23, develop a… − | (28) | Article 34 is deleted; | − | --- | --- | + (20) in Article 23, paragraph 1 is replaced by the following: **‘1.** The Authority shall, in consultation with the ESRB, develop criteria for the identification and measurement of systemic risk and an adequate stress-testing regime which includes an evaluation of the potential for systemic risk pos… − | (29) | Article 36 is amended as follows:(a)paragraph 3 is deleted;(b)paragraphs 4 and 5 are replaced by the following:‘4. On receipt of a warning or recommendation from the ESRB addressed to the Authority, the Authority shall discuss that warning or recommendation at the next meeting of the Board … − | --- | --- | − | (a) | paragraph 3 is deleted; | − | (b) | paragraphs 4 and 5 are replaced by the following:‘4. On receipt of a warning or recommendation from the ESRB addressed to the Authority, the Authority shall discuss that warning or recommendation at the next meeting of the Board of Supervisors or, where appropriate, earlier, in order to asse… − | (c) | paragraph 6 is deleted; | + (21) Article 29 is amended as follows: (a) paragraph 1 is amended as follows: (i) the following points are inserted: ‘(aa) establishing Union strategic supervisory priorities in accordance with Article 29a; (ab) establishing coordination groups in accordance with Article 45b to promote supervisory c… − | (30) | Article 37 is amended as follows:(a)paragraphs 2 and 3 are replaced by the following:‘2. The Banking Stakeholder Group shall be composed of 30 members. Those members shall comprise of:(a)13 members representing, in balanced proportions, financial institutions operating in the Union of whom … − | --- | --- | − | (a) | paragraphs 2 and 3 are replaced by the following:‘2. The Banking Stakeholder Group shall be composed of 30 members. Those members shall comprise of:(a)13 members representing, in balanced proportions, financial institutions operating in the Union of whom three shall represent cooperative and… − | (a) | 13 members representing, in balanced proportions, financial institutions operating in the Union of whom three shall represent cooperative and savings banks; | − | (b) | 13 members representing employees’ representatives of financial institutions operating in the Union, consumers, users of banking services and representatives of SMEs; and | − | (c) | four members who are independent top-ranking academics. | − | (b) | the following paragraph is inserted:‘3a. Members of the Banking Stakeholder Group shall elect a Chair from among its members. The position of Chair shall be held for a period of two years.The European Parliament may invite the Chair of the Banking Stakeholder Group to make a statement before… − | (c) | in paragraph 4, the first subparagraph is replaced by the following:‘4. The Authority shall provide all necessary information subject to professional secrecy as set out in Article 70 of this Regulation and ensure adequate secretarial support for the Banking Stakeholder Group. Adequate compen… − | (d) | paragraph 5 is replaced by the following:‘5. The Banking Stakeholder Group may submit advice to the Authority on any issue related to the tasks of the Authority with particular focus on the tasks set out in Articles 10 to 16, 29, 30 and 32.Where members of the Banking Stakeholder Group canno… − | (e) | paragraph 7 is replaced by the following:‘7. The Authority shall make public the advice of the Banking Stakeholder Group, the separate advice of its members, and the results of its consultations as well as information on how advice and results of consultations have been taken into account.’;… + (22) the following Article is inserted: ‘Article 29a Union strategic supervisory priorities Following a discussion in the Board of Supervisors and taking into account contributions received from competent authorities, existing work by the Union institutions, and analysis, warnings and recommendation… − | (31) | Article 39 is replaced by the following:‘Article 39Decision-making procedures1. The Authority shall act in accordance with paragraphs 2 to 6 of this Article when adopting decisions pursuant to Articles 17, 18 and 19.2. The Authority shall inform any addressee of a decision of its intention … − | --- | --- | + (23) Article 30 is replaced by the following: ‘Article 30 Peer reviews of competent authorities **1.** The Authority shall periodically conduct peer reviews of some or all of the activities of competent authorities, to further strengthen consistency and effectiveness in supervisory outcomes. To that… − | (32) | Article 40 is amended as follows:(a)in paragraph 1, point (a) is replaced by the following:‘(a)the Chairperson;’;(b)the following paragraph is added:‘8. Where the national public authority referred to in point (b) of paragraph 1 is not responsible for the enforcement of consumer protection … − | --- | --- | − | (a) | in paragraph 1, point (a) is replaced by the following:‘(a)the Chairperson;’; | − | ‘(a) | the Chairperson;’; | − | (b) | the following paragraph is added:‘8. Where the national public authority referred to in point (b) of paragraph 1 is not responsible for the enforcement of consumer protection rules, the member of the Board of Supervisors referred to in that point may decide to invite a representative from th… + (24) Article 31 is amended as follows: (a) the first paragraph is replaced by the following: **‘1.** The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and i… − | (33) | Articles 41 and 42 are replaced by the following:‘Article 41Internal committees1. The Board of Supervisors, on its own initiative or at the request of the Chairperson, may establish internal committees for specific tasks attributed to it. Upon request from the Management Board or from the C… − | --- | --- | + (25) the following Article is inserted: ‘Article 31a Information exchange on fitness and propriety The Authority shall, together with the European Supervisory Authority (European Banking Authority) and with the European Supervisory Authority (European Securities and Markets Authority), establish a s… − | (34) | Article 43 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. The Board of Supervisors shall give guidance to the work of the Authority and shall be in charge of taking the decisions referred to in Chapter II. The Board of Supervisors shall adopt the opinions, recommendat… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. The Board of Supervisors shall give guidance to the work of the Authority and shall be in charge of taking the decisions referred to in Chapter II. The Board of Supervisors shall adopt the opinions, recommendations, guidelines and decisions of the… − | (b) | paragraphs 2 and 3 are deleted; | − | (c) | paragraph 5 is replaced by the following:‘5. The Board of Supervisors shall adopt, on the basis of a proposal by the Management Board, the annual report on the activities of the Authority, including on the performance of the Chairperson’s duties, and shall transmit that report to the Europea… − | (d) | paragraph 8 is replaced by the following:‘8. The Board of Supervisors shall exercise disciplinary authority over the Chairperson and the Executive Director. It may remove the Executive Director from office in accordance with Article 51(5).’; | + (26) Article 32 is amended as follows: (a) the title is replaced by the following: ‘Assessment of market developments, including stress tests’; (b) paragraph 1 is replaced by the following: **‘1.** The Authority shall monitor and assess market developments in the area of its competence and, where ne… − | (35) | the following Article is inserted:‘Article 43aTransparency of decisions adopted by the Board of SupervisorsNotwithstanding Article 70, within six weeks of each meeting of the Board of Supervisors, the Authority shall, at least provide the European Parliament with a comprehensive and meaning… − | --- | --- | + (27) Article 33 is replaced by the following: ‘Article 33 International relations including equivalence **1.** Without prejudice to the respective competences of the Member States and the Union institutions, the Authority may develop contacts and enter into administrative arrangements with regulator… − | (36) | Article 44 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each voting member shall have one vote.With regard to the acts specified in Articles 10 to 16 of this Regulation and mea… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each voting member shall have one vote.With regard to the acts specified in Articles 10 to 16 of this Regulation and measures and decisions adopted under the… − | (b) | the following paragraphs are inserted:‘3a. With regard to the decisions in accordance with Article 30, the Board of Supervisors shall vote on the proposed decisions using a written procedure. The voting members of the Board of Supervisors shall have eight working days to vote. Each voting me… − | (c) | paragraphs 4 and 4a are replaced by the following:‘4. The non-voting members and the observers shall not attend any discussions within the Board of Supervisors relating to individual financial institutions, unless otherwise provided for in Article 75(3) or in the legislative acts referred to… + (28) Article 34 is deleted; − | (37) | Article 45 is replaced by the following:‘Article 45Composition1. The Management Board shall be composed of the Chairperson and six members of the Board of Supervisors, elected by and from the voting members of the Board of Supervisors.Other than the Chairperson, each member of the Managemen… − | --- | --- | + (29) Article 36 is amended as follows: (a) paragraph 3 is deleted; (b) paragraphs 4 and 5 are replaced by the following: **‘4.** On receipt of a warning or recommendation from the ESRB addressed to the Authority, the Authority shall discuss that warning or recommendation at the next meeting of the B… − | (38) | the following Articles are inserted:‘Article 45aDecision-making1. Decisions by the Management Board shall be adopted by simple majority of its members whilst striving for consensus. Each member shall have one vote. The Chairperson shall be a voting member.2. The Executive Director and a rep… − | --- | --- | + (30) Article 37 is amended as follows: (a) paragraphs 2, 3 and 4 are replaced by the following: **‘2.** The Insurance and Reinsurance Stakeholder Group shall be composed of 30 members. Those members shall comprise of:(a) 13 members representing, in balanced proportions, insurance and reinsurance und… − | (39) | Article 46 is replaced by the following:‘Article 46Independence of the Management BoardThe members of the Management Board shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions or bodies,… − | --- | --- | + (31) Article 39 is replaced by the following: ‘Article 39 Decision-making procedures **1.** The Authority shall act in accordance with paragraphs 2 to 6 of this Article when adopting decisions pursuant to Articles 17, 18 and 19. **2.** The Authority shall inform any addressee of a decision of its in… − | (40) | Article 47 is amended as follows:(a)the following paragraph is inserted:‘3a. The Management Board may examine, give an opinion on, and make proposals on all matters, except for tasks laid down in Articles 9a, 9b, 30 as well as Articles 17 and 19 on matters concerning the prevention of the u… − | --- | --- | − | (a) | the following paragraph is inserted:‘3a. The Management Board may examine, give an opinion on, and make proposals on all matters, except for tasks laid down in Articles 9a, 9b, 30 as well as Articles 17 and 19 on matters concerning the prevention of the use of the financial system for the pu… − | (b) | paragraph 6 is replaced by the following:‘6. The Management Board shall propose an annual report on the activities of the Authority, including on the Chairperson’s duties, to the Board of Supervisors for approval.’; | − | (c) | paragraph 8 is replaced by the following:‘8. The Management Board shall appoint and remove the members of the Board of Appeal in accordance with Article 58(3) and (5), taking duly into account a proposal by the Board of Supervisors.’; | − | (d) | the following paragraph is added:‘9. The members of the Management Board shall make public all meetings held and any hospitality received. Expenses shall be recorded publicly in accordance with the Staff Regulations.’; | + (32) Article 40 is amended as follows (a) in paragraph 1, point (a) is replaced by the following: ‘(a) the Chairperson;’; (b) the following paragraph is added: **‘6.** Where the national public authority referred to in point (b) of paragraph 1 is not responsible for the enforcement of consumer prote… − | (41) | Article 48 is amended as follows:(a)in paragraph 1, the second subparagraph is replaced by the following:‘The Chairperson shall be responsible for preparing the work of the Board of Supervisors, including setting the agenda to be adopted by the Board of Supervisors, convening the meetings a… − | --- | --- | − | (a) | in paragraph 1, the second subparagraph is replaced by the following:‘The Chairperson shall be responsible for preparing the work of the Board of Supervisors, including setting the agenda to be adopted by the Board of Supervisors, convening the meetings and tabling items for decision, and sh… − | (b) | paragraph 2 is replaced by the following:‘2. The Chairperson shall be selected on the basis of merit, skills, knowledge of financial institutions and markets, and of experience relevant to financial supervision and regulation, following an open selection procedure which shall respect the pri… − | (c) | in paragraph 4, the second subparagraph is replaced by the following:‘For the purpose of the evaluation referred to in the first subparagraph, the tasks of the Chairperson shall be carried out by the Vice-Chairperson.The Council, acting on a proposal from the Board of Supervisors and with th… − | (d) | paragraph 5 is replaced by the following:‘5. The Chairperson may be removed from office only on serious grounds. He or she may only be removed by the European Parliament following a decision of the Council, adopted after consulting the Board of Supervisors.’; | + (33) Articles 41 and 42 are replaced by the following: ‘Article 41 Internal committees **1.** The Board of Supervisors, on its own initiative or at the request of the Chairperson, may establish internal committees for specific tasks attributed to it. Upon request from the Management Board or from th… − | (42) | Article 49 is amended as follows:(a)the title is replaced by the following:‘Independence of the Chairperson’;(b)the first paragraph is replaced by the following:‘Without prejudice to the role of the Board of Supervisors in relation to the tasks of the Chairperson, the Chairperson shall neit… − | --- | --- | − | (a) | the title is replaced by the following:‘Independence of the Chairperson’; | − | (b) | the first paragraph is replaced by the following:‘Without prejudice to the role of the Board of Supervisors in relation to the tasks of the Chairperson, the Chairperson shall neither seek nor take instructions from the Union institutions or bodies, from any government or from any other publi… + (34) Article 43 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** The Board of Supervisors shall give guidance to the work of the Authority and shall be in charge of taking the decisions referred to in Chapter II. The Board of Supervisors shall adopt the opinions, recommen… − | (43) | Article 49a is replaced by the following:‘Article 49aExpensesThe Chairperson shall make public all meetings held with external stakeholders within a period of two weeks following the meeting and any hospitality received. Expenses shall be recorded publicly in accordance with the Staff Regul… − | --- | --- | + (35) the following Article is inserted: ‘Article 43a Transparency of decisions adopted by the Board of Supervisors Notwithstanding Article 70, within six weeks of each meeting of the Board of Supervisors, the Authority shall, at least, provide the European Parliament with a comprehensive and meaning… − | (44) | Article 50 is deleted; | − | --- | --- | + (36) Article 44 is amended as follows: (a) paragraph 1 is replaced by the following: **‘1.** Decisions of the Board of Supervisors shall be taken by a simple majority of its members. Each voting member shall have one vote. With regard to the acts specified in Articles 10 to 16 of this Regulation and… − | (45) | Article 54 is amended as follows:(a)paragraph 2 is amended as follows:(i)the introductory part is replaced by the following:‘2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely to ensure cross-sectoral consistency, while considering sec… − | --- | --- | − | (a) | paragraph 2 is amended as follows:(i)the introductory part is replaced by the following:‘2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely to ensure cross-sectoral consistency, while considering sectoral specificities, with the Europea… − | (i) | the introductory part is replaced by the following:‘2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely to ensure cross-sectoral consistency, while considering sectoral specificities, with the European Supervisory Authority (European Ins… − | (ii) | the first indent is replaced by the following:‘—financial conglomerates and, where required by Union law, prudential consolidation,’; | − | ‘— | financial conglomerates and, where required by Union law, prudential consolidation,’; | − | (iii) | the fifth and sixth indents are replaced by the following:‘—cybersecurity,—information and best practice exchange with the ESRB and the other ESAs,’; | − | ‘— | cybersecurity, | − | — | information and best practice exchange with the ESRB and the other ESAs,’; | − | (iv) | the following indents are added:‘—retail financial services and depositor, consumer and investor protection issues;—advice by the Committee established in accordance with Article 1(6).’; | − | ‘— | retail financial services and depositor, consumer and investor protection issues; | − | — | advice by the Committee established in accordance with Article 1(6).’; | − | (b) | the following paragraph is inserted:‘2a. The Joint Committee may assist the Commission in assessing the conditions and the technical specifications and procedures for ensuring secure and efficient interconnection of the centralised automated mechanisms pursuant to the report referred in Arti… − | (c) | paragraph 3 is replaced by the following:‘3. The Joint Committee shall have a dedicated staff provided by the ESAs that shall act as a permanent secretariat. The Authority shall contribute adequate resources to administrative, infrastructure and operational expenses.’; | + (37) Article 45 is replaced by the following: ‘Article 45 Composition **1.** The Management Board shall be composed of the Chairperson and six members of the Board of Supervisors, elected by and from the voting members of the Board of Supervisors. Other than the Chairperson, each member of the Manag… − | (46) | Article 55 is amended as follows:(a)paragraph 3 is replaced by the following:‘3. The Chairperson of the Joint Committee shall be appointed on an annual rotational basis from among the Chairpersons of the ESAs. The Chairperson of the Joint Committee shall be the second Vice-Chair of the ESRB… − | --- | --- | − | (a) | paragraph 3 is replaced by the following:‘3. The Chairperson of the Joint Committee shall be appointed on an annual rotational basis from among the Chairpersons of the ESAs. The Chairperson of the Joint Committee shall be the second Vice-Chair of the ESRB.’; | − | (b) | in paragraph 4, the second subparagraph is replaced by the following:‘The Joint Committee shall meet at least once every three months.’; | − | (c) | the following paragraph is added:‘5. The Chairperson of the Authority shall regularly inform the Board of Supervisors on positions taken in the meetings of the Joint Committee.’; | + (38) the following Articles are inserted: ‘Article 45a Decision-making **1.** Decisions by the Management Board shall be adopted by simple majority of its members whilst striving for consensus. Each member shall have one vote. The Chairperson shall be a voting member. **2.** The Executive Director a… − | (47) | Articles 56 and 57 are replaced by the following:‘Article 56Joint positions and common actsWithin the scope of its tasks set out in Chapter II of this Regulation, and in particular with respect to the implementation of Directive 2002/87/EC, where relevant, the Authority shall reach joint po… − | --- | --- | + (39) Article 46 is replaced by the following: ‘Article 46 Independence of the Management Board The members of the Management Board shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from the Union institutions or bodies, … − | (48) | Article 58 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. The Board of Appeal of the European Supervisory Authorities is hereby established.’;(b)in paragraph 2, the first subparagraph is replaced by the following:‘2. The Board of Appeal shall be composed of six member… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. The Board of Appeal of the European Supervisory Authorities is hereby established.’; | − | (b) | in paragraph 2, the first subparagraph is replaced by the following:‘2. The Board of Appeal shall be composed of six members and six alternates, who shall be individuals of high repute with a proven record of relevant knowledge of Union law and of having international professional experience… − | (c) | paragraph 3 is replaced by the following:‘3. Two members of the Board of Appeal and two alternates shall be appointed by the Management Board of the Authority from a shortlist proposed by the Commission, following a public call for expressions of interest published in the Official Journal of… + (40) Article 47 is amended as follows: (a) the following paragraph is inserted: **‘3a.** The Management Board may examine, give an opinion on and make proposals on all matters except for tasks laid down in Article 30.’; (b) paragraph 6 is replaced by the following: **‘6.** The Management Board shall… − | (49) | in Article 59, paragraph 2 is replaced by the following:‘2. Members of the Board of Appeal, and staff of the Authority providing operational and secretariat support, shall not take part in any appeal proceedings in which they have any personal interest, if they have previously been involved… − | --- | --- | + (41) Article 48 is amended as follows: (a) in paragraph 1, the second subparagraph is replaced by the following: ‘The Chairperson shall be responsible for preparing the work of the Board of Supervisors, including setting the agenda to be adopted by the Board of Supervisors, convening the meetings an… − | (50) | in Article 60, paragraph 2 is replaced by the following:‘2. The appeal, together with a statement of grounds, shall be filed in writing at the Authority within three months of the date of notification of the decision to the person concerned, or, in the absence of a notification, of the day … − | --- | --- | + (42) Article 49 is amended as follows: (a) the title is replaced by the following: ‘Independence of the Chairperson’; (b) the first paragraph is replaced by the following: ‘Without prejudice to the role of the Board of Supervisors in relation to the tasks of the Chairperson, the Chairperson shall ne… − | (51) | the following article is inserted:‘Article 60aExceeding of competence by the AuthorityAny natural or legal person may send reasoned advice to the Commission if that person is of the opinion that the Authority has exceeded its competence, including by failing to respect the principle of prop… − | --- | --- | + (43) the following article is inserted: ‘Article 49a Expenses The Chairperson shall make public all meetings held with external stakeholders within a period of two weeks following the meeting and any hospitality received. Expenses shall be recorded publicly in accordance with the Staff Regulations.’… − | (52) | in Article 62, paragraph 1 is amended as follows:(a)the introductory part is replaced by the following:‘1. The revenues of the Authority, a European body in accordance with Article 70 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(*22) (“the Financial Re… − | --- | --- | − | (a) | the introductory part is replaced by the following:‘1. The revenues of the Authority, a European body in accordance with Article 70 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council(*22) (“the Financial Regulation”), shall consist, in particular, of any comb… − | (b) | the following points are added:‘(d)any voluntary contribution from Member States or observers;(e)agreed charges for publications, training and for any other services provided by the Authority where they have been specifically requested by one or more competent authorities.’; | − | ‘(d) | any voluntary contribution from Member States or observers; | − | (e) | agreed charges for publications, training and for any other services provided by the Authority where they have been specifically requested by one or more competent authorities.’; | − | (c) | the following sub-paragraph is added:‘Any voluntary contribution from Member States or observers referred to in point (d) of the first sub-paragraph shall not be accepted if such acceptance would cast doubt on the independence and impartiality of the Authority. Voluntary contributions that c… + (44) Article 50 is deleted; − | (53) | Articles 63, 64 and 65 are replaced by the following:‘Article 63Establishment of the budget1. Each year, the Executive Director shall draw up a provisional draft single programming document of the Authority for the three following financial years setting out the estimated revenue and expend… − | --- | --- | + (45) Article 54 is amended as follows: (a) paragraph 2 is amended as follows: (i) the introductory part is replaced by the following: **‘2.** The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely to ensure cross-sectoral consistency, while considerin… − | (54) | in Article 66, paragraph 1 is replaced by the following:‘1. For the purposes of combating fraud, corruption and any other illegal activity, Regulation (EU, Euratom) No 883/2013 of the European Parliament and of the Council(*24) shall apply to the Authority without any restriction.(*24) Regu… − | --- | --- | + (46) Article 55 is amended as follows: (a) paragraph 3 is replaced by the following: **‘3.** The Chairperson of the Joint Committee shall be appointed on an annual rotational basis from among the Chairpersons of the ESAs. The Chairperson of the Joint Committee shall be the second Vice-Chair of the E… − | (55) | Article 70 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. Members of the Board of Supervisors, and all members of the staff of the Authority, including officials seconded by Member States on a temporary basis, and all other persons carrying out tasks for the Authority… − | --- | --- | − | (a) | paragraph 1 is replaced by the following:‘1. Members of the Board of Supervisors, and all members of the staff of the Authority, including officials seconded by Member States on a temporary basis, and all other persons carrying out tasks for the Authority on a contractual basis, shall be sub… … diff truncated at 500 changed lines …
| tier | A, publisher-supplied validity dates |
| history begins | publisher |
| index built | 2026-08-07T19:46:23Z · corpus 8d5e859 |
| stamp signature | valid (ECDSA-P256) |