The European Banking Authority (EBA) has issued the technical standards for colleges of supervisors for investment firm groups.
This comes as part of the regulator’s final draft on regulatory technical standards (RTS) and Implementing Technical Standards (ITS) on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms.
These standards offer a solid framework for cooperation in the supervision of the investment firm groups through colleges of supervisors. It will also foster collaboration for information exchange for investment firms within the EU.
This is part of phase 2 of the EBA’s investment firms and aim at improving cooperation and information exchanges between supervisors of investment firms.
The draft also provides details on colleges of supervisors for investment firm groups. The RTS focuses on the establishment of colleges, functioning of colleges, and planning and coordination of supervisory activities.
These standards were developed in collaboration with the European Securities and Markets Authority.
Read the full final report here.
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