Commission Delegated Regulation (EU) 2026/544 Article 2: Criteria for assessing whether external reviewers monitor and evaluate the adequacy and effectiveness of their systems, resources and procedures

Article 2 - Criteria for assessing whether external reviewers monitor and evaluate the adequacy and effectiveness of their systems, resources and procedures

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Article 2

Criteria for assessing whether external reviewers monitor and evaluate the adequacy and effectiveness of their systems, resources and procedures

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The criteria for assessing whether external reviewers monitor and evaluate the adequacy and effectiveness of their systems, resources and procedures, as referred to in Article 26(2) of Regulation (EU) 2023/2631, shall be the following:

((a))

the monitoring and evaluation is carried out by a function that is independent of the business lines;

((b))

measures to address deficiencies identified in the monitoring assessments include:

((i))

recording in an electronically stored medium breaches, errors, complaints, incidents and near misses;

((ii))

determining remediation actions for breaches, errors, complaints, incidents and near misses;

((iii))

attributing an entity or person responsible for addressing each deficiency;

((iv))

reporting to senior management, the supervisory body, or the management body the progress in addressing identified deficiencies;

((v))

ensuring that the management body oversees the timely implementation of corrective actions.