Submission #4

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Austrian Economic Chamber - Division Bank and Insurance

Question 1: Do you agree that requiring the credit institution submitting the passport notification to indicate the intended start date of each activity which the notification refers to, rather than only the core activities, will support the competent authorities’ comprehensive and accurate assessment of the passport notification and provide them with an accurate picture of the credit institution’s planned activities as well as their ability to carry them on?

General comment:
It is stated in the consultation paper that each service passport notification should indicate the intended start date of each activity rather than just the intended start date for the core business activities. However there are no amendments to Art 5 of the Commission Delegated Regulation (EU) No 1151/2014 in this respect

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Name of the organization Austrian Economic Chamber - Division Bank and Insurance