EBA and ESMA jointly consult on management body suitability guidelines

The proposed guidelines set out:

• criteria to be used to assess the knowledge, skills, experience, reputation, integrity and independence of mind of members of the management body;
• a framework for assessing the time commitment expected of members;
• clarifications with respect to how directorships are to be counted to ensure compliance with CRD 4;
• how diversity should be taken into account during the recruitment of members to the management body; and
• requirements for institutions to establish training policies and allocate sufficient financial and human resources to induction and training.

Comments on the consultation are due by 28 January 2017.