Changes from plenary report to adopted text

RemovedThe formats issued by the Authority shall replace the formats previously issued by the EBA or the competent authorities on the same subject. The formats previously issued by the EBA or the competent authorities shall remain applicable until such time as new formats issued by the Authority enter into force. The Authority shall provide for a suitable transition period for obliged entities, competent supervisors, FIUs and other competent authorities to comply with the new formats.

RemovedORGANISATION OF THE AUTHORITY

RemovedAdministrative and management structure

RemovedThe Authority’s structure shall comprise:

Removed(1) a General Board, which shall exercise the tasks set out in Article 49;

Removed(2) an Executive Board, which shall exercise the tasks set out in Article 53:

Removed(3) a Chair of the Authority, who shall exercise the tasks set out in Article 57;

Removed(4) an Executive Director, who shall exercise the tasks set out in Article 59;

Removed(5) an Administrative Board of Appeal which shall exercise the functions listed in Article 62.

RemovedGENERAL BOARD

RemovedComposition of the General Board

Removed1. The General Board shall have, alternatively, the supervisory composition as laid down in paragraph 2 ▌, the FIU composition as laid down in paragraph 3.

Removed2. The General Board in supervisory composition shall be composed of:

Removed(a) the Chair of the Authority with a right to vote;

Removed(b) the heads of supervisory authorities of obliged entities in each Member State with a right to vote;

Removed(c) one representative of the Commission, without the right to vote.

Removedhe heads of the supervisory authorities referred to in the first subparagraph, point (b) in each Member State shall share a single vote and shall appoint a single common representative, which shall be either a permanent representative or an ad-hoc voting representative, for the purposes of each specific meeting or voting procedure. ▌Where items to be discussed by the General Board in supervisory composition concern the competence of several public authorities, the single common representative may be accompanied by a representative from up to two other public authorities, who shall be non-voting. When agreeing on their single common representative to the General Board, the supervisory authorities in each Member State shall take into account the principle of gender balance.

RemovedEach public authority that has a voting member under ad-hoc or permanent agreement shall be responsible for nominating a high-level alternate from its authority, who may replace the voting member of the General Board referred to in the second sub-paragraph where that person is prevented from attending.

Removed3. The General Board in FIU composition shall be composed of:

Removed(a) the Chair of the Authority with a right to vote;

Removed(b) the heads of FIUs with the right to vote;

Removed(c) one representative of the Commission, without the right to vote.

Removed4. The General Board may decide to admit observers. ▌The General Board in FIU composition shall permanently admit at least a representative of OLAF, of Europol, of Eurojust and of the EPPO as observers to meetings when matters fall under their respective mandates. The General Board in supervisory composition shall permanently admit at least a representative nominated by the Supervisory Board of the European Central Bank and a representative of each of the European Supervisory Authorities as observers. Other observers may be admitted on an ad hoc basis if approved by a two-thirds majority of the voting members of the General Board in the relevant composition.

Removed5. The members of the Executive Board may participate in the meetings of the General Board in both compositions, without the right to vote, where the items covered by their areas of responsibility as determined by the Chair of the Authority and referred to in Article 55(2), are discussed.

RemovedInternal committees of the General Board

RemovedThe General Board, on its own initiative or at the request of the Chair of the Authority, may establish internal committees for specific tasks attributed to it. The General Board may provide for the delegation of certain clearly defined tasks ▌to internal committees, to the Executive Board or to the Chair. The General Board may revoke such delegation at any time. The General Board shall remain responsible for, and exercise ultimate control over all of its decisions. The members of the Executive Board may participate in the meetings of internal committees in accordance with Article 46(5).

RemovedIndependence of the General Board

Removed1. When carrying out the tasks conferred upon them by this Regulation, the members of the General Board in both compositions referred to in Article 46(2) points (a) and (b) and (3) points (a) and (b) shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions, bodies, offices nor agencies from any government or any other public or private body.

Removed2. Member States, Union institutions, agencies, offices or bodies, and any other public or private body, shall not seek to influence the members of the General Board in the performance of its tasks.

Removed3. The General Board shall lay down, in its Rules of Procedure, the practical arrangements for the prevention and the management of conflict of interest.

RemovedTasks of the General Board

Removed1. The General Board in supervisory composition shall take the decisions relating to tasks referred to in Articles 7 to 10 as well as any decisions explicitly provided by this Regulation for the General Board in supervisory composition.

Removed2. The General Board in supervisory composition may provide its advice and opinion on any draft decisions prepared by the Executive Board towards selected obliged entities in accordance with Section 3 of Chapter II.

Removed3. The General Board in FIU composition shall perform the tasks and adopt the decisions pursuant to Section 6 of Chapter II.

Removed4. The General Board shall adopt the draft regulatory and implementing technical standards, opinions, recommendations, guidelines and decisions of the Authority referred to in Section 7 of Chapter II, in an appropriate composition, depending on the subject-matter of the instrument. Where a given instrument concerns both FIU and supervision-related matters, adoption shall be required by both compositions of the General Board independently. The draft regulatory and implementing technical standards, opinions, recommendations, and guidelines shall be adopted based on a proposal of the relevant internal committee.

Removed5. The General Board in either composition shall be consulted on the draft decisions to be taken by the Executive Board pursuant to Article 53(3), 53(4), points (a), (c), (e) and (m). Where the subsequent decision taken by the Executive Board deviates from the opinion of the General Board, the Executive Board shall provide the reasons thereof in writing.

Removed6. The General Board shall adopt and make public its Rules of Procedure.

Removed7. Without prejudice to Articles 52 (3) and (4) and Article 56 (1) and (2), the appointing authority powers over the Chair and the five permanent members of the Executive Board throughout their mandate shall be exercised by the General Board.

RemovedVoting rules of the General Board

Removed1. Decisions of the General Board shall be taken by a simple majority of its members. Each voting member as determined by Article 46(2) shall have one vote. In case of a tied vote, the Chair of the Authority shall have a casting vote.

Removed2. With regard to the acts referred to in Articles 38, 42, 43 and 44 of this Regulation, and by way of derogation from paragraph 1, the General Board shall take decisions on the basis of a qualified majority of its members, as defined in Article 16(4) TEU.

RemovedThe Chair of the Authority shall not vote on the decisions referred to in the first subparagraph and the decisions related to the evaluation of the performance of the Executive Board referred to in Article 52 (4).

Removed3. The non-voting members and the observers shall not attend any discussions within the General Board in supervisory composition relating to individual obliged entities, unless otherwise provided for in the legislative acts referred to in Article 1(2).

Removed4. Paragraph 3 shall not apply to the Executive Board members and the European Central Bank representative nominated by its Supervisory Board.

Removed5. The Chair of the Authority shall have the prerogative to call a vote at any time. Without prejudice to that power and to the effectiveness of the Authority’s decision-making procedures, the General Board shall strive for consensus when taking its decisions.

RemovedMeetings of the General Board

Removed1. The Chair of the Authority shall convene the meetings of the General Board.

Removed2. The General Board shall hold at least two ordinary meetings a year. In addition, it shall meet on the initiative of its Chair, at the request of the Commission, or at the request of at least one-third of its members.

Removed3. The General Board may invite any person whose opinion may be of interest to attend its meetings as an observer.

Removed4. The members of the General Board and their alternates may, subject to its Rules of Procedure, be assisted at the meetings by advisers or experts.

Removed5. The Authority shall provide the secretariat for the General Board.

Removed6. The Chair of the Authority and the permanent five members of the Executive Board shall not attend those meetings of the General Board where matters concerning the performance of their mandate are discussed or decided upon.

RemovedTransparency of decisions adopted by the General Board

RemovedWithin six weeks of each meeting of the General Board, the Authority shall at least provide the European Parliament with a comprehensive and meaningful record of the proceedings of that meeting that enables a full understanding of the discussions, including an annotated list of decisions. Such record shall not reflect discussions within the General Board relating to individual entities, unless otherwise provided for in the legislative acts referred to in Article 1(2).

RemovedEXECUTIVE BOARD

RemovedComposition and appointment of the Executive Board

Removed1. The Executive Board shall be composed of:

Removed(a) the Chair of the Authority;

Removed(b) five full-time members, including the Vice-Chair;

Removed(c) a representative of the Commission where the Executive Board carries out the tasks referred to in Article 53(4) point (a) to (l). The representative of the Commission shall be entitled to participate in the debates and shall have access to the documents pertaining to these tasks only.