Art. 31a · Information exchange on fitness and propriety

Version in force 1 January 2020, Inserted +542 −0§

Amended by Regulation (EU) 2019/2175 32019R2175 on EUR-Lex (external, EUR-Lex)

Applies from: not readable (an inserted provision states its own application date only in prose) why

Explanation, written by a model and checked against the cited text

This is a new article requiring the Authority, together with the European Banking Authority and the European Securities and Markets Authority, to establish a system for exchanging information relevant to assessing the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions by competent authorities under the legislative acts referred to in Article 1(2).

Cited: Art. 31a, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 31a
Information exchange on fitness and propriety
The Authority shall, together with the European Supervisory Authority (European Banking Authority) and with the European Supervisory Authority (European Securities and Markets Authority), establish a system for the exchange of information relevant to the assessment of the fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions by competent authorities in accordance with the legislative acts referred to in Article 1(2).