The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published today a consultation paper on draft joint Guidelines on the system for the exchange of information when assessing the fitness and propriety requirements. These Guidelines aim to increase the efficiency of the information exchange between sectoral supervisors by harmonising practices and clarifying how competent authorities should use the information system developed by the three ESAs.
The joint Guidelines apply to competent authorities under the ESAs’ remit and are divided into two main parts:
Comments to the Consultation Paper can be sent by clicking on the "send your comments" button on the EBA's consultation page. The deadline for the submission of comments is 2 May 2023.
All contributions received will be published following the close of the consultation, unless requested otherwise.
The draft joint Guidelines have been developed in accordance with Article 31(a) of ESAs Founding Regulation, which mandates the ESAs to jointly establish a system for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions by competent authorities in accordance with the legislative acts referred to in Articles 1(2) of the ESAs Founding Regulations.