Source: OJ L, 2024/2494, 25.9.2024Current language: EN
Article 9 Referral to ESMA or to EBA
Summary What does Article 9 of the ITS on supervisory cooperation say?
This article sets out the procedural requirements for escalating unresolved cooperation requests to ESMA or EBA.
Building directly on the broader cooperation framework established in earlier articles, it provides a formal route for addressing situations where a receiving body has either rejected a request or failed to act within a reasonable timeframe.
The article specifies both the format and the minimum content that any such referral must include.
Important points:
- Referrals to ESMA or EBA must be made in writing using the standard form set out in Annex I.
- The referral must include a copy of the original cooperation request, any reply received, and the reasons for the escalation.
- This article connects to Articles 95(6) and 95(7) of Regulation (EU) 2023/1114, which establish ESMA's and EBA's respective roles in handling these escalations.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
Referral to ESMA pursuant to Article 95(6) of Regulation (EU) 2023/1114 or to EBA pursuant to Article 95(7) of that Regulation of a rejection or absence of action within a reasonable timeframe shall be made in writing using the form set out in Annex I and shall include:
a copy of the request for cooperation and exchange of information and any reply received;
the reasons for referring to ESMA or to EBA the rejection or absence of action.
Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.