1. The Joint Committee of the European Supervisory Authorities is hereby established.
2. The Joint Committee shall serve as a forum in which the Authority shall cooperate regularly and closely and ensure cross-sectoral consistency with the European Supervisory Authority (European Insurance and Occupational Pensions Authority) and the European Supervisory Authority (European Securities and Markets Authority), in particular regarding:
— | financial conglomerates, |
— | accounting and auditing, |
— | micro-prudential analyses of cross-sectoral developments, risks and vulnerabilities for financial stability, |
— | retail investment products, |
— | measures combating money laundering, and |
— | information exchange with the ESRB and developing the relationship between the ESRB and the ESAs. |
3. The Joint Committee shall have a dedicated staff provided by the ESAs that shall act as a secretariat. The Authority shall contribute adequate resources to administrative, infrastructure and operational expenses.
4. In the event that a financial institution reaches across different sectors, the Joint Committee shall resolve disagreements in accordance with Article 56.