1. 1. The Joint Committee of the European Supervisory Authorities is hereby established.
2. 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 Banking Authority) and the European Supervisory Authority (European Insurance and Occupational Pensions 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. 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. 4. In the event that a financial market participant reaches across different sectors, the Joint Committee shall resolve disagreements in accordance with Article 56.