Summary
The European Parliament has decided not to object to a new regulation that defines how banks identify key staff members and business units that significantly impact their risk profile. 9 18.05.2021
Other
finance
administrative law
business and competition
Key points
- The regulation establishes clear standards for defining managerial responsibilities and control functions within financial institutions.
- It provides criteria to identify material business units and assess their impact on an institution's risk profile.
- It sets criteria for identifying specific staff members whose professional activities significantly impact the institution's risk profile.
- The decision aims to provide legal certainty for both competent authorities and credit institutions following recent framework changes.
Documents (PDFs)
RECOMMENDATION FOR A DECISION to raise no objections to the Commission delegated regulation of 25 March 2021 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive
Non-objection to a delegated act: Supplementing Directive 2013/36/EU with regard to the identification of staff whose professional activities have a material impact on the institutions’ risk profile
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