Mapping of investment firm groups
1. The group supervisor shall map an investment firm group to identify the following group entities:
(a)
investment firms authorised in a Member State and branches established in a Member State, other than investment firms to which Article 1(2) of Regulation (EU) 2019/2033 of the European Parliament and of the Council ( 3 ) applies;
(b)
financial institutions, ancillary services undertakings, tied agents and branches thereof authorised or established in a Member State;
(c)
investment firms, financial institutions, ancillary services undertakings, tied agents and branches thereof authorised or established in a third country.
2. For the purposes of paragraph 1, point (a), the following information shall be reflected in the mapping:
(a)
the Member State where the investment firm is authorised or the branch is established;
(b)
the competent authority responsible for the supervision of the investment firm or the competent authority of the host Member State where the branch is established, and other relevant financial sector authorities of that Member State, including competent authorities responsible for the supervision of markets in financial instruments, for the prevention of the use of the financial system for the purposes of money laundering or terrorism financing, for consumer protection and for resolution;
(c)
for an investment firm, authorised in a Member State, whether it meets the criteria to be deemed to be a small and non-interconnected investment firm as referred to in Article 12(1) of Regulation (EU) 2019/2033.
3. For the purposes of paragraph 1, points (b) and (c), the following information shall be reflected in the mapping:
(a)
the Member State or the third country where the group entity or branch has been authorised or established;
(b)
the authority responsible for or involved in the supervision of that group entity or branch;
(c)
information on the importance of the group entity or branch for the Member State referred to in point (a) and for the investment firm group, and the relevant criteria used by the competent authorities to determine that importance.
Determination of whether the establishment of a college of supervisors is appropriate
1. When determining whether the establishment of a college of supervisors is appropriate, the group supervisor shall take into account the mapping of the group referred to in Article 1 and verify whether any of the following conditions is met:
(a)
the investment firm group consists of at least two investment firms authorised and operating in two different Member States;
(b)
the exercise of the tasks referred to in Article 48 of Directive (EU) 2019/2034 would be facilitated by the establishment of a college of supervisors;
(c)
the coordination and cooperation with relevant third-country supervisory authorities would be performed more effectively under a college of supervisors;
(d)
coordination and cooperation are needed to exchange with the supervisory authorities of the clearing members of the qualifying central counterparties (‘QCCPs’) or the supervisory authorities of QCCPs for the purposes of Article 23(1), first subparagraph, point (c), and Article 23(2) of Regulation (EU) 2019/2033, and to update that information.
2. Where any of the conditions set out in paragraph 1, points (a), (b), (c) or (d) have been met, the establishment of a college shall be deemed appropriate, except where the group supervisor considers that such establishment would not be appropriate having regard in particular to the mapping of the group referred to in Article 1 and in particular where investment firms are deemed to be small and non-interconnected investment firms as referred to in Article 12(1) of Regulation (EU) 2019/2033.
Communication about the establishment of a college of supervisors
1. Where a college of supervisors has been established, the group supervisor shall, without undue delay:
(a)
notify the competent and supervisory authorities referred to in Article 48(5) of Directive (EU) 2019/2034 of their membership in the college of supervisors;
(b)
inform the EBA and the Union parent investment firm, Union parent investment holding company or Union parent mixed financial holding company (any of these entities being also designated as ‘Union parent undertaking’) concerned about the establishment of the college of supervisors, about the identity of its members and observers, as well as about any changes in the composition of that college.
2. Where a college of supervisors has not been established although the conditions set out in Article 2(1), point (a), have been met, the group supervisor shall, without undue delay, notify the EBA of its decision not to establish a college of supervisors and substantiate its decision.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
