Article 27c
Cooperation between competent authorities
1.
The competent authority shall consult the authorities entrusted with the public duty of supervising other financial sector entities concerned when carrying out the assessment provided for in Article 27b(1) where the proposed acquisition concerns one of the following:
(a)
a credit institution, an insurance undertaking, a reinsurance undertaking, an investment firm or an asset management company, authorised in another Member State or in a sector other than that of the proposed acquirer;
(b)
a parent undertaking of a credit institution, of an insurance undertaking, of a reinsurance undertaking, of an investment firm or of an asset management company, authorised in another Member State or in a sector other than that of the proposed acquirer;
(c)
a legal person controlling a credit institution, an insurance undertaking, a reinsurance undertaking, an investment firm or an asset management company, authorised in another Member State or in a sector other than that in which the acquisition is proposed.
2.
Where the proposed acquirer is an institution and the threshold referred to in Article 27a(2) is only exceeded on an individual basis, the competent authority assessing the proposed acquisition shall notify the consolidating supervisor of the proposed acquisition within 10 working days following receipt of the notification by the proposed acquirer, if the proposed acquirer is part of a group and the competent authority is different from the consolidating supervisor. The competent authority shall also forward its assessment to the consolidating supervisor.
Where the proposed acquirer is a financial holding company or mixed financial holding company within the scope of Article 21a(1), the consolidating supervisor assessing the proposed acquisition shall notify the competent authority in the Member State where the proposed acquirer is established of the proposed acquisition within 10 working days following receipt of the notification by the proposed acquirer, if that competent authority is different from the consolidating supervisor. The consolidating supervisor shall also forward its assessment to that competent authority.
Where the proposed acquirer is an institution and the threshold referred to in Article 27a(2) is exceeded on both an individual basis and on the basis of the consolidated situation of the group, the competent authority and the consolidating supervisor assessing the proposed acquisition shall seek to coordinate their assessments, in particular with regard to their consultation of the relevant authorities referred to in paragraph 1 of this Article.
3.
Where the assessment of the proposed acquisition needs to be carried out by the consolidating supervisor referred to in Article 27a(3) and the consolidating supervisor is different from the competent authority in the Member State where the proposed acquirer is established, the two authorities shall work together in full consultation. The consolidating supervisor shall prepare an assessment on the proposed acquisition and shall forward that assessment to the competent authority in the Member State where the proposed acquirer is established. The two authorities shall do everything within their powers to reach a joint decision within two months of receipt of that assessment. That joint decision shall be duly documented and reasoned. The consolidating supervisor shall communicate that joint decision to the proposed acquirer.
In the event that a joint decision is not taken within two months of receipt of the assessment, the consolidating supervisor or the competent authority in the Member State where the proposed acquirer is established shall refrain from taking a decision and shall refer the matter to EBA in accordance with Article 19 of Regulation (EU) No 1093/2010. EBA shall take its decision within one month of receipt of the referral to EBA. The authorities concerned shall adopt a joint decision in conformity with the decision of EBA.
4.
The competent authorities shall, without delay, provide each other with any information which is essential or relevant for the assessment. In that regard, the competent authorities shall communicate to each other upon request or on their own initiative all relevant information for the assessment.
The competent authorities shall seek to coordinate their assessments and ensure the consistency of their decisions. To that end, the decision by the competent authority responsible for the assessment shall indicate any views or reservations made by other relevant competent authorities.
5.
EBA shall develop draft implementing technical standards to establish common procedures and forms and shall develop templates for the consultation process between the relevant competent authorities as referred to in this Article.
EBA shall submit those draft implementing technical standards to the Commission by 10 July 2026.
Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph of this paragraph in accordance with Article 15 of Regulation (EU) No 1093/2010.