Regulatory Alerts2024-11-20
Final Report on Joint Guidelines for the ESAs System for Exchange of Information on Fitness and Propriety
The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority have issued joint guidelines to establish a system for exchanging information relevant to fitness and propriety assessments. These guidelines mandate competent authorities to use the ESAs Information System to share limited data on holders of qualifying holdings, directors, and key function holders to enhance supervisory efficiency. The framework ensures timely information exchange while maintaining strict data protection standards and preserving each authority's independent assessment responsibilities.
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