On 5 July 2021, the European Banking Authority (EBA) published:

  • Final draft regulatory technical standards (RTS) on colleges of supervisors for investment firms groups. These final draft RTS have been prepared in accordance with Article 48(8) of the Investment Firms Directive (IFD). The final draft RTS specify the conditions under which colleges of supervisors exercise their tasks. They are structured around four main sections: (1) establishment of colleges; (2) functioning of colleges; (3) planning and coordination of supervisory activities in going concern situations; and (4) planning and coordination of supervisory activities in preparation for and during emergency situations.
  • Final draft RTS and implementing technical standards (ITS) on information exchange. These final draft RTS and ITS have been developed in accordance with Articles 13(7) and 13(8) of the IFD. They complement the final draft RTS on colleges of supervisors and address situations where investment firms operate in another Member State through branches or the free provision of services, where colleges may not be established. In particular, the final draft RTS specify the information that competent authorities in the host Member State and those in the home Member State shall exchange, whereas the final draft ITS establish standard forms, templates, and procedures for sharing the information specified in the RTS.

All three final draft standards apply to Class 2 and 3 investment firms and have been prepared reflecting on the supervisory experience in exchange of information and functioning of colleges for credit institutions, adjusting them to the needs of investment firms’ supervision and embedding the proportionality principle.

The final draft standards are part of the phase 2 mandates of the EBA roadmap on investment firms, and aim at improving cooperation and information exchanges between the supervisors of investment firms.

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