independent director
Defined in Article 2, Regulation (EU) 2025/1355 of the ECB
Definitions over time (1)
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03/08/2025 – today applies on 12/11/2026 Article 2, Regulation (EU) 2025/1355 of the ECB Scope: Whole act
For the purposes of this Regulation, the following definitions apply:
‘independent director’ means, in a unitary board system, a non-executive member of the board or, in a dual board system, a member of the supervisory or equivalent board, who has no business, family or other relationship that raises a conflict of interests regarding the SIPS or SIPS operator, their controlling shareholders, their management or their participants, and who has had no such relationship during the two years preceding their membership of the Board;