2.3 Organisational arrangements

Competent authorities should ensure that, for conducting the SREP, their organisational arrangements include at least the following:

• a. a description of the roles and responsibilities of their supervisory staff with respect to performing the SREP, as well as the relevant reporting lines, in both normal and emergency situations;
• b. arrangements for engaging with other relevant supervisors to seek their views and relevant inputs on specific matters that may have an impact on the SREP findings or scores to avoid duplication of work and to ensure consistency of assessment and of related supervisory measures;
• c. procedures for documenting and recording findings and supervisory judgments;
• d. arrangements for the approval of the findings and scores, as well as escalation procedures where there are dissenting views within the competent authority, in both normal and emergency situations;
• e. arrangements for organising dialogue with the investment firm following the model of minimum engagement as stipulated in Section 2.4 to assess individual SREP elements; and
• f. arrangements for consultations with an investment firm and communicating the outcomes of the SREP to the investment firm.

When defining arrangements for dialogue with investment firms, competent authorities should consider potential implications of providing the scores to the investment firms in terms of their disclosure obligations pursuant to the requirements of Regulation (EU) No 596/2014¹² and Directives 2014/57/EU¹³ and 2004/109/EC¹⁴ .

¹² Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1).

¹³ Directive 2014/57/EU of the European Parliament and of the Council of 16 April 2014 on criminal sanctions for market abuse (market abuse directive) (OJ L 173, 12.6.2014, p. 179).

¹⁴ Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC (OJ L 390, 31.12.2004, p. 38).