The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today a consultation paper on draft joint Guidelines on the system for the exchange of information when assessing the fitness and propriety requirements. These Guidelines aim to increase the efficiency of the information exchange between sectoral supervisors by harmonising practices and clarifying how competent authorities should use the information system developed by the three ESAs.
The joint Guidelines apply to competent authorities under the ESAs’ remit and are divided into two main parts:
- The first one focuses on how competent authorities should input the data and use the ESAs’ information system, including on how to search for the fit and proper assessments of persons of interest that had already been made by other competent authorities.
- Once a competent authority has identified that a relevant assessment has been made by another competent authority, the second part of the Guidelines clarifies how they should cooperate to exchange information.
Consultation process
Comments to the Consultation Paper can be sent by clicking on the “send your comments” button on the EBA’s consultation page. The deadline for the submission of comments is 2 May 2023.
All contributions received will be published following the close of the consultation, unless requested otherwise.