CRD 4: Commission Implementing Regulation on information exchanges between authorities regarding qualifying holdings published in Official Journal

Commission Implementing Regulation ( 2017/461) laying down implementing technical standards (ITS) on common procedures, forms and templates for the consultation process between the relevant competent authorities for proposed acquisitions of qualifying holdings in credit institutions, in accordance with the Capital Requirements Directive (CRD 4), has been published in the Official Journal.

The objective of the draft ITS is to ensure effective and efficient communications between concerned authorities, both on a cross-border basis and across sectors. The ITS set out a streamlined process, which consists of a single notice to send an information request and respond to it, when competent authorities across the EU consult each other on acquisitions and increases of qualifying holdings in credit institutions. The standards also specify the timeframe for submitting the consultation notice and responding to it and provide a set of templates for this purpose.

The Implementing Regulation will enter into force on 6 April 2017.