Article 15
College framework in anticipation of possible emergency situations
1. The group supervisor, in consultation with the members of the college of supervisors, shall establish a college framework in anticipation of possible emergency situations, taking into account the specific features and structure of the investment firm group.
2. The college framework referred to in paragraph 1 shall be formalised in the written arrangements concluded in accordance with Article 4 and shall contain all of the following:
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(a) |
the college-specific procedures that shall apply where an emergency situation as referred to in Article 47 of Directive (EU) 2019/2034 arises; |
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(b) |
information that shall be exchanged when an emergency situation as referred to in Article 47 of Directive (EU) 2019/2034 arises. |
3. The information referred to in paragraph 2, point (b), shall contain all of the following:
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(a) |
an outline of the emergency situation which has occurred, including the underlying cause of the emergency situation, and the expected impact of the emergency situation on the entities of the investment firm group or on the group as a whole, its clients, the markets and the stability of the financial system of the European Union; |
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(b) |
an explanation of the measures and actions that have been taken or are planned to be taken by the group supervisor or any of the members of the college of supervisors or the entities of the investment firm group in response to the emergency situation; |
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(c) |
the latest available quantitative information regarding liquidity and capital position of the investment firms of the investment firm group. |