MIL-OSI Europe: EBA peer review shows competent authorities have robust and consistent procedures to comply with RTS on passport notifications

By   /  July 10, 2018  /  Comments Off on MIL-OSI Europe: EBA peer review shows competent authorities have robust and consistent procedures to comply with RTS on passport notifications

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Source: European Banking Authority

Headline: EBA peer review shows competent authorities have robust and consistent procedures to comply with RTS on passport notifications

The European Banking Authority (EBA) published today the final peer review Report on the Regulatory Technical Standards (RTS) on the information to be notified when exercising the right of establishment and the freedom to provide services for credit institutions. The Report, which summarises the main findings of the peer review exercise, showed that competent authorities have developed consistent and robust procedures to comply with the RTS requirements although the level of sophistication of these processes varies across Member States. The EBA has, therefore, identified some best practices, which might be beneficial to address some of the identified weaknesses.

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