Procedures to be used in the coordination of enforcement measures

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.

When coordinating enforcement measures, the information exchange processes described in Title III should be applied.