(1)

To facilitate communication and cooperation between competent authorities for the purposes of Regulation (EU) 2020/1503, each competent authority should designate and communicate to the European Securities and Markets Authority (ESMA) a contact point.

(2)

For reasons of transparency and to ensure good cooperation between different competent authorities, it is important to lay down that competent authorities that refuse to act on a request for information or a request to cooperate with an investigation, as referred to in Article 31(2) of Regulation (EU) 2020/1503, notifies the requesting competent authority of such refusal and informs that competent authority of the reasons of that refusal.

(3)

Competent authorities should be able to cooperate in an efficient manner when performing supervision, investigation and enforcement activities for the purposes of Regulation (EU) 2020/1503. For that purpose, it is necessary to set out common and uniform procedures in case the requested cooperation involves the taking of statements. Those procedures should set out the elements which competent authorities are to consider, in accordance with applicable national and Union law, when cooperating on the taking of a statement from any person. Those elements should include the rights of the person from whom the statement is to be taken and the arrangements enabling competent authorities’ staff to proceed efficiently with the cooperation. In particular, competent authorities should ensure the protection of the right to an effective remedy and to a fair trial and the right to a presumption of innocence and right of defence, enshrined in Articles 47 and 48 of the Charter of fundamental rights of the European Union.

(4)

It is important to ensure that competent authorities engage efficiently in requests for cooperation on an on-site inspection or an investigation, including on the appropriateness to carry out a joint on-site inspection or investigation. It is therefore necessary to lay down common and uniform procedures to facilitate the communication between, consultations of, and interactions between the requesting competent authority and the requested competent authority, as well as to ensure the effective protection of the rights of the persons who are subject to on-site inspection or investigation.

(5)

This Regulation is based on the draft implementing technical standards submitted to the Commission by ESMA.

(6)

ESMA did not conduct public consultations on the draft implementing technical standards on which this Regulation is based, nor did it analyse the potential related costs and benefits, as this would have been highly disproportionate in relation to the scope and impact of those standards, taking into account the fact that they principally concern competent authorities.

(7)

ESMA has requested the advice of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (2).

(8)

The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 of the European Parliament and of the Council (3) and delivered an opinion on 1 June 2022,