Recital 13 Other member states

Considering that competent authorities in other Member States are to be notified of incidents that impact financial entities and customers in their jurisdiction, the assessment of the impact in another jurisdiction in accordance with Article 19(7) of Regulation (EU) 2022/2554 should be based on the root cause of the incident, on potential contagion through third-party providers and on financial market infrastructures, as well as on the impact of the incident on significant groupsmeans a group as defined in Article 2, point (11), of Directive 2013/34/EU; of clients or financial counterparts.