110. In accordance with Articles 26 and 28 of Directive (EU) 2019/2034, the EBA Guidelines on …

In accordance with Articles 26 and 28 of Directive (EU) 2019/2034, the EBA Guidelines on internal governance and Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders, competent authorities should assess at least whether:

• a. arrangements aimed at ensuring that the individual and collective suitability of the management body and the individual suitability of key function holders are implemented and carried out effectively, upon appointment, when material changes happen, and on an ongoing basis, including notification to the relevant competent authorities;
• b. the composition of the management body is appropriate and the management body performs its functions effectively;
• c. effective interaction exists between the management body in its management and supervisory functions;
• d. the management body in its management function appropriately directs the business and the supervisory function oversees and monitors management decision-making and actions;
• e. appropriate internal governance practices and procedures are in place for the management body and its committees, where established; and
• f. all members of the management body are informed about the overall activity, financial and risk situation of the investment firm with clear, effective and well transparent reporting lines.

Category 3 investment firms

1. Overview

1.1 References

• Article 26 Internal governance
• Article 28 Role of the management body in risk management

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/