Local cooperation arrangements
Article 4
1. Where a competent NCB reports statistical information to the ECB which it has collected via a national competent authority (NCA) pursuant to local cooperation arrangements, that competent NCB shall ensure that information collected and transmitted via the respective NCA allows for the effective monitoring of compliance with statistical reporting requirements. 2. Where a reporting agent provides statistical information to the competent NCB via an NCA pursuant to local cooperation arrangements prior to the initiation of an infringement procedure, the competent NCB shall liaise with the relevant NCA to obtain information as to whether the alleged infringement occurred as a result of actions or inactions by the reporting agent and to ensure that no more than one infringement procedure based on the same facts is initiated against the same reporting agent at a time. 3. Where a reporting agent provides statistical information to the competent NCB via an NCA pursuant to local cooperation arrangements, the competent NCB shall inform the relevant NCA in cases where a remedial plan referred to in Article 7 has been submitted by the reporting agent and endorsed by the competent NCB, as well as whether or not it has been successfully implemented, and in cases where a sanction has been imposed on a reporting agent by the Executive Board of the ECB in accordance with Article 3 of Regulation (EC) No 2532/98 and Article 7 of Regulation (EC) No 2533/98.