Subject matter

These guidelines specify further the internal governance arrangements, processes and mechanisms that institutions, that are subject to Directive 2013/36/EU⁸ and investment firms that are subject to Title VII of Directive 2013/36/EU in application of Article 1(2) and (5) of Regulation 2019/2033/EU, should implement in accordance with Article 74(1) of Directive 2013/36/EU to ensure their effective and prudent management.

⁸ Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338).