Regulatory Alerts2019-07-25
Decision on the Documentation Accompanying the Notice of Intention to Apply the Exemption from Reporting Obligations under Article 9(1) of Regulation (EU) No 648/2012 for Intragroup Transactions
The Croatian Financial Services Supervisory Agency (Hanfa) issued this Decision to specify the documentation, format, and submission procedures required for supervised entities seeking an exemption from reporting obligations for intragroup OTC derivative transactions under Article 9(1) of Regulation (EU) No 648/2012. It mandates the submission of a written summary notice and an electronically completed Form, establishes clear time limits for Hanfa's assessment and objections, and permits collective notices when multiple group entities are supervised by Hanfa. Furthermore, it clarifies the applicable consolidation and risk assessment criteria for third-country counterparties while ensuring that signatories bear full responsibility for the truthfulness, accuracy, and completeness of all submitted data.