Article 11 Relevance of major incidents to competent authorities in other Member States


The assessment of whether the major incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555; is relevant for competent authoritiesas defined in Article 46 in other Member States as referred to in Article 19(7) of Regulation (EU) 2022/2554 shall be based on whether the incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555; has a root cause originating from another Member State or whether the incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555; has or has had a significant impact in another Member State in relation to any of the following:

  1. clients or financial counterparts;

  2. a branch of the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; or another financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; within the group means a group as defined in Article 2, point (11), of Directive 2013/34/EU;;

  3. a financial market infrastructure or a third-party provider which may affect financial entitiesas defined in Article 2, points (a) to (t) to which they provide services.

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