On 20 November 2024, the European Supervisory Authorities (ESAs) published a final report on joint guidelines on the system established by the ESAs 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 and financial market participants by competent authorities.

Per Article 31a of the Regulations establishing the ESAs, the ESAs have developed a system to facilitate the timely 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 and financial market participants between competent authorities. This system includes the ESAs Information System, and the guidelines now published. The guidelines clarify how the ESAs Information System should be used and how data should be exchanged.

The ESAs have also developed operating rules for the ESAs Information System which do not form part of the guidelines. The operating rules will be communicated to competent authorities.