These Guidelines aim at ensuring that the ESAs and the competent authorities have:
a) an overview of the areas where cooperation and/or exchange of information between competent authorities and the ESAs is needed in accordance with Article 32(7);
b) a coordinated and cohesive approach between ESAs and competent authorities in the exchange of information and when cooperating for the purpose of oversight activities to ensure efficiency and consistency as well as to avoid duplications;
c) a common approach to the rules of procedure and timelines that apply in relation to cooperation and information exchange, including roles and responsibilities and means for cooperation and information exchange.
These Guidelines constitute consistent, efficient and effective practices on the oversight cooperation and information exchange between ESAs and competent authorities in the context of Article 32(7). These Guidelines do not hinder the exchange of further information and extended oversight cooperat
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