Article 3
Communication about the establishment of a college of supervisors
1. Where a college of supervisors has been established, the group supervisor shall, without undue delay:
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(a) |
notify the competent and supervisory authorities referred to in Article 48(5) of Directive (EU) 2019/2034 of their membership in the college of supervisors; |
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(b) |
inform the EBA and the Union parent investment firm, Union parent investment holding company or Union parent mixed financial holding company (any of these entities being also designated as ‘Union parent undertaking’) concerned about the establishment of the college of supervisors, about the identity of its members and observers, as well as about any changes in the composition of that college. |
2. Where a college of supervisors has not been established although the conditions set out in Article 2(1), point (a), have been met, the group supervisor shall, without undue delay, notify the EBA of its decision not to establish a college of supervisors and substantiate its decision.