Article 13 Remediation plan

Within 8 weeks from the notification referred to in Article 12(7) of this Regulation, the financial entity shall provide the remediation plans and the documentation referred to in Article 26(6) of Regulation (EU) 2022/2554 to the TLPT authoritymeans any of the following:the single public authority in the financial sector designated in accordance with Article 26(9) of Regulation (EU) 2022/2554;the authority in the financial sector to which the exercise of some or all of the tasks in relation to TLPT is delegated in accordance with Article 26(10) of Regulation (EU) 2022/2554;any of the competent authorities referred to in Article 46 of Regulation (EU) 2022/2554; and, where different, to the financial entity’s competent authority.

1. a description of the identified shortcomings;

2. a description of the proposed remediation measures and of their prioritisation and expected completion, including, where relevant, measures to improve the identification, protection, detection and response capabilities;

3. a root cause analysis;

4. the financial entity’s staff or functions responsible for the implementation of the proposed remediation measures or improvements;

5. the risks associated to not implementing the measures referred to in point (b) and, where relevant, risks associated to the implementation of such measures.