The draft Guidelines complete the various governance provisions in Directive 2013/36/EU, taking into account the principle of proportionality, by specifying the tasks, responsibilities and organisation of the management body, the organisation of institutions and groups, including the need to create transparent structures that allow for a supervision of all their activities and specifies requirements for the three lines of defense and, in particular, the risk management, compliance and audit function.
The consultation runs until 28 January 2017.