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Recital 59

Recital 59

(59)The Commission should be empowered to adopt the implementing technical standards developed by EBA with regard to the uniform formats and definitions for intermediate parent undertaking reporting; the consultation process between competent authorities in relation to the acquisition of a qualifying holding; the consultation process between competent authorities in relation to a merger or division; the regulatory and financial information on third-country branches and on head undertakings. The Commission should adopt those implementing technical standards by means of implementing acts pursuant to Article 291 TFEU and in accordance with Article 15 of Regulation (EU) No 1093/2010.

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