Recital 7

(7)The principles established by Guideline (EU) 2015/856 (ECB/2015/12) were supplemented by the Ethics Framework for the SSM Implementation (EFSI) practices ⁴ approved by the Governing Council and transposed into internal rules and practices adopted by the ECB and NCAs. These EFSI practices, including in particular Implementation practice No 4 concerning the compliance function, should be incorporated into the revised SSM Ethics Framework, in a manner which safeguards the principle of organizational autonomy of each NCA.