Art. 3 Means of communication | ITS on supervisory cooperation | MiCA

This article establishes the rules governing how competent authorities, ESMA, and EBA must communicate with one another when cooperating and exchanging information under the broader framework of Regulation (EU) 2023/1114.

It sets out that all communication must be in writing, either by post or electronic means, and feeds directly into the practical mechanics of the cooperation obligations established in the preceding articles, particularly the contact point framework set up under Article 2.

The article also provides criteria that authorities must weigh when choosing their communication method, and closes with a clear requirement that whatever method is used must protect the information being transmitted.

Important points:

Competent authorities, ESMA, and EBA are required to communicate in writing, by post or electronic means, unless this Regulation provides otherwise.
When selecting a communication method, competent authorities, ESMA, and EBA must take into account confidentiality, time, volume of material, and ease of access to the information.
All chosen means of communication must guarantee the completeness, integrity, and confidentiality of the information during transmission.

1. For the purposes of cooperation and exchange of information in accordance with Article 96(1) of Regulation (EU) 2023/1114, competent authorities and ESMA and EBA shall communicate in writing either by post or by electronic means, unless otherwise provided for in this Regulation.
1. When determining the most appropriate means of communication in any particular case, competent authorities, ESMA and EBA shall take due account of the following:
  1. confidentiality considerations;
  2. the time necessary for correspondence;
  3. the volume of material to be communicated;
  4. the ease of access to the information that is being exchanged.
1. The means of communication referred to in paragraph 1 shall ensure the completeness, integrity and confidentiality of the information during the transmission thereof.