Updated 02/01/2026
Coming into force on 19/01/2026

Initial Legal Act
References (8)
30/12/2025
Delegated Regulation 2025/2180 published in OJ
14/02/2025
ESMA84-858037815-195
Final Draft published
26/03/2024
ESMA84-2037069784-2116
Consultation published
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Delegated Regulation 2025/2180

Commission Delegated Regulation (EU) 2025/2180 of 12 September 2025 supplementing Regulation (EU) 2023/2631 of the European Parliament and of the Council with regard to regulatory technical standards specifying the conditions for the registration of external reviewers, the criteria for assessing the sound and prudent management of external reviewers, the appropriateness of the knowledge, experience and training of the external reviewers’ employees, and the conditions under which external reviewers can outsource their assessment activities

RecitalsArticle 1 - Criteria to determine sufficiently good repute of senior management and the members of the board of an applicant external reviewerArticle 2 - Criteria to determine sufficient skill, professional qualifications and relevant experience of senior management and the members of the board of the applicant external reviewerArticle 3 - Criteria to determine the sufficient number of analysts, employees and other persons directly involved in assessment activitiesArticle 4 - Criteria to determine the sufficient level of knowledge, experience and training of analysts, employees and other persons directly involved in assessment activitiesArticle 5 - Criteria for assessing sound and prudent management by external reviewersArticle 6 - Criteria for assessing the management of conflicts of interestArticle 7 - Criteria for assessing the ability and capacity of third-party service providers to perform assessment activitiesArticle 8 - Criteria for ensuring that outsourcing assessment activities does not materially impair the quality of the internal control of the external reviewerArticle 9 - Criteria for ensuring that outsourcing assessment activities does not materially impair ESMA’s ability to supervise compliance of external reviewersArticle 10 - Evaluation of criteria of outsourcing of assessment activitiesArticle 11 - Entry into force