Updated 22/12/2024
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Article 7 - Delegation of tasks and responsibilities

Article 7

Delegation of tasks and responsibilities

1.   When establishing and updating the college supervisory examination programme referred to in Article 14, the group supervisor and the members of the college of supervisors shall consider the possibility of agreements on the voluntary delegation of tasks and responsibilities referred to in Article 48(2), point (e), of Directive (EU) 2019/2034, in particular where such delegation is expected to lead to more efficient and effective supervision, in particular by removing unnecessary duplications of supervisory requirements, including in relation to information requests.

2.   The conclusion of an agreement on delegation of tasks and responsibilities shall be notified by the group supervisor to the Union parent undertaking, and by the competent authority that delegates its powers to the investment firm concerned.