(2)Following amendments to Directive 2013/36/EU of the European Parliament and of the Council 4 , Delegated Regulation (EU) No 604/2014 has been repealed for credit institutions and replaced on 14 June 2021 by Commission Delegated Regulation (EU) 2021/923 5 , which reflects new draft regulatory technical standards to define the concepts of managerial responsibility, control functions, material business units and significant impact on a material business unit’s risk profile, and to identify the staff members or categories of staff referred to under point (c) of paragraph 2 of Article 94 of Directive 2013/36/EU. Delegated Regulation (EU) 2021/923 also eliminates the notification procedure and sets out criteria for the assessment of the exceptional circumstances pursuant to Article 6(4) of Delegated Regulation (EU) 2021/923.
Recital 2
- 4 Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC ( OJ L 176, 27.6.2013, p. 338 ). ↩
- 5 Commission Delegated Regulation (EU) 2021/923 of 25 March 2021 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive ( OJ L 203, 9.6.2021, p. 1 ). ↩