Response to consultation on Regulatory Technical Standards specifying the minimum list of information to be provided to the competent authorities at the time of the notification
Question 5: Do you find the provisions of this draft Regulation sufficiently clear and comprehensive?
Dear Sir or Madam,
In addition to the provisions of Chapter 2 of Title 3 of CRD IV, which relate to qualifying holdings in credit institutions, the new Chapter 3 of CRD VI creates supervisory powers for the acquisition of material holdings by an institution. The notification obligation for the acquisition or divestiture of material holdings by an institution is triggered, pursuant to Article 27a CRD VI, based on a threshold in relation to the institution's eligible capital (“eligible capital” pursuant to Article 4(1)(71) CRR), and not in relation to the size of the holding. Do the provisions in the RTS which are applicable to the acquisition of qualifying holdings also apply to the acquisition of material holdings? It could be the case that a holding is considered material within the meaning of the new provisions of CRD VI, but not as a qualifying holding. Is our understanding correct that the regime on the assessment of qualifying holdings also apply to the acquisition of material holdings? This is relevant insofar as the new provisions on material holdings concern the acquisition of a company within or outside the financial sector and regardless of where the target company is located, and are not limited to the acquisition of a holding in an credit institution.
Thank you
Best regards
Christian Schiele