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  1. Final report on joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU (ESMA35-36-2319 / EBA/GL/2021/06)
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Published date: 2 July 2021

Final report on joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU (ESMA35-36-2319 / EBA/GL/2021/06)

Comparing proposed amendment...
Executive Summary
Background and rationale
1. Compliance and reporting obligations
2. Subject matter, scope and definitions
3. Implementation
4. Guidelines
Title I - Application of the proportionality principle
Title II – Scope of suitability assessments by institutions
1. The institutions' assessment of the individual suitability of members of the management body
2. The institutions' assessment of the collective suitability of the management body
3. The relevant institutions' assessment of the suitability of key function holders
Title III – Notions of suitability listed in Article 91(12) of Directive 2013/36/EU
4. Sufficient time commitment of a member of the management body
5. Calculation of the number of directorships
6. Adequate knowledge, skills and experience
7. Collective suitability criteria
8. Reputation, honesty and integrity
9. Independence of mind and independent members
Title IV – Human and financial resources for training of members of the management body
10. Setting objectives of induction and training
11. Induction and training policy
Title V – Diversity within the management body
12. Diversity policy objectives
Title VI – Suitability policy and governance arrangements
13. Suitability policy
14. Suitability policy in a group context
15. Nomination committee and its tasks
16. Composition of the management body and the appointment and succession of its members
Title VII – Assessment of suitability by institutions
17. Common elements for the assessment of the individual and collective suitability of members of the management body
18. Assessment of the suitability of individual members of the management body
19. Assessment of the collective suitability of the management body
20. Ongoing monitoring and re-assessment of the individual and collective suitability of the members of the management body
21. Suitability assessment of key function holders by relevant institutions
22. Institutions' corrective measures
Title VIII – Suitability assessment by competent authorities
23. Competent authorities' assessment procedures
24. Decision of the competent authority
25. Cooperation between competent authorities
Title IX - Competent authorities' and resolution authorities' suitability assessment in the context of resolution
Annex I – Template for a matrix to assess the collective competence of members of the management body
Annex II – Skills
Annex III – Documentation elements for initial appointments
5. Accompanying documents
5.1. Draft cost-benefit analysis / impact assessment
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