Art. 107 Cooperation with third countries | MiCA regulation | MiCA

This article governs how EU Member State competent authorities engage with supervisory authorities in third countries.

It establishes a framework for concluding cooperation arrangements with non-EU regulators, covering both information exchange and enforcement of obligations under the regulation.

The article also assigns ESMA and EBA a coordinating role in facilitating these arrangements and developing a template document for them.

Importantly, any information exchanged under these arrangements must be subject to professional secrecy guarantees equivalent to those set out in Article 100, linking this article directly to the confidentiality requirements established there.

Important points:

Competent authorities are required to notify EBA, ESMA, and other competent authorities before concluding any cooperation arrangement with a third-country supervisory authority.
ESMA, in close cooperation with EBA, is tasked with facilitating and coordinating the development of these arrangements and producing a template document via regulatory technical standards.
Competent authorities may only exchange information with third-country supervisory authorities where professional secrecy guarantees at least equivalent to those in Article 100 are in place.

1. The competent authorities of Member States shall, where necessary, conclude cooperation arrangements with supervisory authorities of third countries concerning the exchange of information with those supervisory authorities of third countries and the enforcement of obligations under this Regulation in those third countries. Those cooperation arrangements shall ensure at least an efficient exchange of information that allows the competent authorities to carry out their duties under this Regulation.
2. A competent authority shall inform EBA, ESMA and the other competent authorities where it intends to conclude such an arrangement.
1. ESMA, in close cooperation with EBA, shall, where possible, facilitate and coordinate the development of cooperation arrangements between the competent authorities and the relevant supervisory authorities of third countries.
1. ESMA, in close cooperation with EBA, shall develop draft regulatory technical standards establishing a template document for cooperation arrangements referred to in paragraph 1 for use by competent authorities of Member States where possible.
2. ESMA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 30 June 2024.
3. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.
1. ESMA, in close cooperation with EBA, shall also, where possible, facilitate and coordinate the exchange between competent authorities of information obtained from supervisory authorities of third countries that might be relevant for taking measures under Chapter 3 of this Title.
1. The competent authorities shall conclude cooperation arrangements on exchange of information with the supervisory authorities of third countries only where the information disclosed is subject to guarantees of professional secrecy that are at least equivalent to those set out in Article 100. Such exchange of information shall be intended for the performance of the tasks under this Regulation of those competent authorities.