On 19 December 2019, the European Banking Authority (EBA) issued a consultation paper on draft regulatory technical standards (RTS) on the criteria to identify all categories of staff whose professional activities have a material impact on the institutions’ risk profile.
The draft RTS have been revised in light of Article 94(2) of CRD IV as amended by Directive (EU) 2019/878 (CRD V) that mandates the EBA to develop draft RTS to set out criteria to define:
- managerial responsibility and control functions;
- material business unit and significant impact on the relevant business unit’s risk profile; and
- other categories of staff not expressly referred to in Article 92(3) CRD IV whose professional activities have an impact on the institution’s risk profile comparably as material as that of those categories of staff referred to therein.
The deadline for comments on the consultation paper is 19 February 2020.