COMMISSION IMPLEMENTING REGULATION (EU) 2022/2454
of 14 December 2022
laying down implementing technical standards for the application of Directive 2002/87/EC of the European Parliament and of the Council with regard to supervisory reporting of risk concentrations and intra-group transactions
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Directive 2002/87/EC of the European Parliament and of the Council of 16 December 2002 on the supplementary supervision of credit institutions, insurance undertakings and investment firms in a financial conglomerate and amending Council Directives 73/239/EEC, 79/267/EEC, 92/49/EEC, 92/96/EEC, 93/6/EEC and 93/22/EEC, and Directives 98/78/EC and 2000/12/EC of the European Parliament and of the Council (1), and in particular Article 21a(2), points (b) and (c), thereof,
Whereas:
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(1) |
According to Article 7(2), second subparagraph, Article 8(2), third subparagraph, and Annex II to Directive 2002/87/EC, coordinators are responsible for supervising significant risk concentrations and intra-group transactions at the level of financial conglomerates. |
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(2) |
When supervising significant risk concentrations and intra-group transactions, coordinators and other relevant competent authorities are to take into account the specific group and risk management structure of the financial conglomerate and the existing sector-specific requirements on intra-group transactions and risk concentrations, in particular when identifying the significant risk concentrations and significant intra-group transactions that regulated entities and mixed financial holding companies in a particular financial conglomerate are to report pursuant to Articles 7(2) and 8(2) of Directive 2002/87/EC. |
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(3) |
To help coordinators and other relevant competent authorities to identify potential issues for the assessment of the risks taken by the conglomerate and to facilitate coordinated supervisory practices across the Union, regulated entities and mixed financial holding companies should report significant intra-group transactions and significant risk concentrations in a consistent and standardised manner. |
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(4) |
To allow for sufficient time for financial conglomerates to adapt to the new reporting requirements, this date of application of this Regulation should be deferred. |
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(5) |
This Regulation is based on the draft implementing technical standards submitted to the Commission by the European Supervisory Authorities (European Banking Authority, European Insurance and Occupational Pensions Authority, European Securities and Markets Authority). |
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(6) |
The European Supervisory Authorities have conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the European Supervisory Authorities’ respective Stakeholder Groups in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council (2), Regulation (EU) No 1094/2010 of the European Parliament and of the Council (3) and Regulation (EU) No 1095/2010 of the European Parliament and of the Council (4) respectively, |
HAS ADOPTED THIS REGULATION:
(2) Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).
(3) Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48).
(4) Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).