For the purposes of this Guideline:
‘national competent authority’ means a national competent authority as defined in point (2) of Article 2 of Regulation (EU) No 1024/2013. This definition is without prejudice to arrangements under national law which assign certain supervisory tasks to an NCB not designated as an NCA. A reference to an NCA in this Guideline, in such a case, also applies to the NCB in respect to the tasks assigned to it by national law;
‘SSM Ethics Framework’ means the provisions of this Guideline as implemented by the ECB and each of the NCAs;
‘non-public information’ means information, irrespective of its form, that pertains to the performance of supervisory tasks conferred on the ECB and the NCAs and which has not been made public;
‘market-sensitive information’ means non-public information of a precise nature which, if made public, is likely to have a significant effect on the price of assets or prices in the financial markets;
‘member of staff’ means a person who has an employment relationship with the ECB or an NCA except if that person is solely entrusted with tasks not related to the performance of supervisory tasks under Regulation (EU) No 1024/2013;
‘member of a body’ means a member of a decision-making or other internal body of the ECB or the NCAs other than a member of staff, except if that member of a body is solely entrusted with tasks not related to the performance of supervisory tasks under Regulation (EU) No 1024/2013;
‘regulated entity’ means any of the following:
a) | a monetary financial institution (MFI) as defined in point (1)(b) of Article 2 of Regulation (EU) 2021/379 of the European Central Bank (ECB/2021/2) (6), but excluding money market funds; |
b) | a non-MFI credit institution as defined in point (4) of Article 2 of Regulation (EU) 2021/379 (ECB/2021/2); |
c) | a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (7); |
d) | a mixed financial holding company as defined in point (15) of Article 2 of Directive 2002/87/EC of the European Parliament and of the Council (8); |
e) | a financial conglomerate as defined in point (14) of Article 2 of Directive 2002/87/EC that is subject to supplementary supervision by the ECB pursuant to Article 4 (1)(h) of Regulation (EU) No 1024/2013; |
‘conflict of interest’ means a situation where personal interests may influence, or may be perceived as influencing, the impartial and objective performance of duties and responsibilities;
‘personal interest’ means a benefit or potential benefit, of a financial or non-financial nature, for a member of staff or a member of a body, including – but not limited to – a benefit for a direct family member (being any parent, child, brother or sister), spouse or partner;
‘short-term trading’ means the purchase and subsequent sale of a financial instrument or the sale and subsequent purchase of the same financial instrument within 90 calendar days;
‘legacy asset’ means a prohibited asset which was acquired by a member of a body or a member of staff prior to the prohibition of the asset or the prohibition becoming applicable to them, or which came into their possession at a later point in time due to circumstances over which they had no influence;
‘advantage’ means a gift, hospitality or other benefit – whether financial, in kind or of another nature – which is not agreed compensation for services delivered and to which the recipient is not otherwise entitled.