1.   The senior management and the members of the board of the external reviewer shall, respectively, ensure or oversee the following:

(a)	the sound and prudent management of the external reviewer;

(b)	the independence of assessment activities;

(c)	that any actual or potential conflicts of interest are properly identified, eliminated or managed, and disclosed in a transparent manner;

(d)	that the external reviewer complies with this Regulation at all times.

2.   ESMA shall develop draft regulatory technical standards specifying the criteria for assessing the sound and prudent management of the external reviewer referred to in paragraph 1, point (a), and the management of conflicts of interest referred to in paragraph 1, point (c).

ESMA shall submit those draft regulatory technical standards to the Commission by 21 December 2024.

Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.