Article 31
Coordination function
The Authority shall fulfil a general coordination role between competent authorities, in particular in situations where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or the stability of the financial system in the Union.
The Authority shall promote a coordinated Union response, inter alia, by:
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(a) |
facilitating the exchange of information between the competent authorities; |
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(b) |
determining the scope and, where possible and appropriate, verifying the reliability of information that should be made available to all the competent authorities concerned; |
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(c) |
without prejudice to Article 19, carrying out non-binding mediation upon a request from the competent authorities or on its own initiative; |
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(d) |
notifying the ESRB of any potential emergency situations without delay. |
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(e) |
taking all appropriate measures in case of developments which may jeopardise the functioning of the financial markets with a view to facilitating the coordination of actions undertaken by relevant competent authorities; |
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(f) |
centralising information received from competent authorities in accordance with Articles 21 and 35 as the result of the regulatory reporting obligations for financial market participants active in more than one Member State. The Authority shall share that information with the other competent authorities concerned. |