Guideline 12: Common approach

12.1 Permanent members should agree on a common approach to ensure that the firm operating on a cross-border basis and its cross-border establishments or EU establishments comply with the provisions of Directive (EU) 2015/849 and are supervised consistently in all jurisdictions.

12.2 In certain circumstances, two or more permanent members may agree on a common approach. For example:

• (a) where an issue relates only to a cross-border or EU establishment in one Member State, it may be sufficient for the permanent member responsible for the supervision of that establishment and the lead supervisor to agree on the common approach; or
• (b) where an issue relates to the firm’s or cross-border or EU establishment’s application of group-wide policies and procedures, an agreement on the common approach between all permanent members may be more appropriate.

12.3 Where permanent members agree that a common approach is needed to resolve the issue but an agreement cannot be reached on how it should be applied, the lead supervisor’s decision prevails.

12.4 Permanent members should commit to applying the approach described in Guidelines 12.1 and 12.2 in practice where this approach does not prejudice the powers and obligations conferred to them by virtue of their respective national laws.

12.5 Where a permanent member has agreed to follow the common approach and fails to act in accordance with the approach, other permanent members should contact the responsible European supervisory authority.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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