Updated 18/09/2024
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Article 4 - Establishment of the written arrangements

Article 4

Establishment of the written arrangements

1.   The written arrangements referred to in Article 48(6), third subparagraph, of Directive (EU) 2019/2034 shall contain all of the following:

(a)

information on the overall structure of the group concerned, covering all group entities, including the Union parent undertaking;

(b)

the identification of the members of the college of supervisors, including those members that are third-country supervisory authorities, and of the observers referred to in Article 5(1) of this Regulation;

(c)

a description of the terms covering the participation for the third-country supervisory authorities referred to in Article 48(5), point (b), of Directive (EU) 2019/2034 in the college of supervisors, in particular regarding their involvement in the various dialogues and processes of the college of supervisors and their rights and obligations with regard to exchanging information within the college of supervisors;

(d)

whether the group supervisor may invite observers as referred to in Article 5(1) of this Regulation and the terms of their participation in the activities of the college of supervisors;

(e)

the arrangements for exchanging information, including the scope of the information, the frequency and channels of communication, including the exchange of information with third-country supervisory authorities and the resolution authorities referred to in Article 4(2), point (v), of Regulation (EU) No 1093/2010 that have been invited to participate in the college as observers;

(f)

the arrangements for dealing with confidential information;

(g)

the procedures for the collection of information from the entities of the investment firm group, and the procedures for the verification of that information;

(h)

the process for coordinating information requests from the supervisory authorities of the clearing members of the QCCPs or the supervisory authorities of the QCCPs;

(i)

the arrangements for delegating tasks and responsibilities, where relevant;

(j)

a description of any substructures of the college, where relevant;

(k)

the arrangements for the planning and coordination of supervisory activities in going concern situations;

(l)

the arrangements for the planning and coordination of supervisory activities in preparation for and during emergency situations, including contingency planning, communication tools and procedures;

(m)

the procedures for informing the group supervisor and the members of the college of supervisors before and after significant sanctions are imposed on entities of the investment firm groups;

(n)

the communication policy of the group supervisor and of the members of the college of supervisors with the Union parent undertaking and with the group entities;

(o)

agreed procedures and time frames for circulating the documents for meetings of the college of supervisors;

(p)

any other agreement between the members of the college of supervisors, including agreed indicators for identifying early warning signs, potential risks and vulnerabilities;

(q)

arrangements for the situation in which a member or an observer terminates its participation in the college, and, in particular, on duties to store and provide access to the data that has been exchanged before such a termination.

2.   The written arrangements referred to in Article 48(6), third subparagraph of Directive (EU) 2019/2034 may provide for other elements agreed between the consolidating supervisor and the members of the college.