Guidelines on supervisory independence of competent authorities
- Status: Final and awaiting translation into the EU official languages
The Guidelines on supervisory independence of competent authorities under the Capital Requirements Directive (CRD) specify certain aspects concerning the appointment of the members of the competent authorities’ management body and clarify the calculation of the 14-year limit for the term of office of those members. Moreover, they harmonise the arrangements to prevent conflicts of interest of their members of staff and of the members of their governance bodies including declarations of interest, limitations on trading of financial instruments, arrangements for the sale or disposal of those instruments and cooling-off restrictions, that competent authorities must have in place.