ESAs publish guidelines on exchange of information relevant to fit and proper assessments in the official EU languages

The European Supervisory Authorities (ESAs) have published joint guidelines on the system established by the for the exchange of information relevant to the assessment of the fitness and propriety in the official EU languages. The joint guidelines were published previously with a final report on 20 November 2024, and relate to the assessment of fitness and propriety of holders of qualifying holdings, directors and key function holders of financial institutions and financial market participants. The ESAs have developed a system which consists of a cross-sectoral database and these joint guidelines, with the aim of fostering a timely exchange of information between competent authorities. The guidelines in relation to data input in respect of natural persons and confidentiality apply from 17 February 2025, with the remaining guidelines applying in respect of natural persons from 15 May 2025. For legal persons, the guidelines in relation to data input apply from 30 January 2026, with the remaining guidelines applying from 30 April 2026.

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