62. To coordinate enforcement measures and supervisory actions to be taken under Article 16 of …

To coordinate enforcement measures and supervisory actions to be taken under Article 16 of Directive 2002/87/EC to rectify the situation where (i) the regulated entities in a financial conglomerate do not comply with the supplementary requirements referred to in Articles 6 to 9 of Directive 2002/87/EC; or (ii) the requirements are met but solvency may, nevertheless, be jeopardised; or (iii) the intra-group transactions or the risk concentrations are a threat to the regulated entities' financial position, competent authorities should take the following steps:

• a) the coordination process should be led by the coordinator, who should organise as many meetings as necessary to fulfil the mandate;
• b) the coordinator should estimate the resources that will be needed and inform the relevant competent authorities; the coordinator and the other relevant competent authorities should allocate sufficient resources in accordance with the coordinator’s estimate.

1. Overview

1.1 References

• Article 16 Enforcement measures
• Article 6 Capital adequacy
• Article 7 Risk concentration
• Article 8 Intra-group transactions
• Article 9 Internal control mechanisms and risk management processes

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/