On 24 February 2021, the European Banking Authority (EBA) issued two public consultations on regulatory technical standards (RTS) and implementing technical standards (ITS) on cooperation and information exchange between Member State competent authorities involved in the prudential supervision of investment firms. The draft standards are part of the phase 2 mandates of the EBA roadmap on investment firms.
The draft RTS on colleges of supervisors for investment firm groups specify the conditions under which colleges of supervisors exercise their tasks. The draft RTS are structured around four main topics: establishment of colleges, functioning of colleges, planning and coordination of supervisory activities in going concern situations and planning and coordination of supervisory activities in preparation for and during emergency situations.
The draft RTS and ITS on information exchange between the competent authorities of home and host Member States complement the 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. The draft RTS specify the information that host Member State competent authorities and home Member State competent authorities shall exchange with each other. The draft ITS establish standard forms, templates and procedures for sharing the information specified in the RTS.
The deadline for comments on both consultations is 23 April 2021.
A public hearing will take place on 7 April 2021.