In consultation the process for determining suitability of banks’ board members and the provisions about necessary information and documents for the qualifying holdings
Bank of Italy provisions concerning “Process for determining suitability of banks’ board members, financial intermediaries, credit consortia, electronic money institutions, payment institutions and Deposit Guarantee Schemes
These provisions are in line with the Decree 169/2020 of the Ministry of Economy and Finance and with article 26 of TUB and they regulate the process for determining suitability of banks’ board members by Bank of Italy.
The proposal is accompanied by a box with the main choices made, total reasons and purposes.
The consultation is open until 19th February 2021.
The provisions concerning information and documents to send to Bank of Italy for the submission of the application for the qualifying holdings
The Supervisory Authority submits for public consultation the provisions concerning information and documents to send to Bank of Italy for the submission of the application for the qualifying holdings (i.e. 10%, 20%, 30%, 50% of the capital or the rights of vote; significant influence; check) for banks and financial intermediaries (banks, intermediaries ex art. 106 TUB, IMEL, IP, SGR, SICAV and SICAF).
These provisions implement the article 15 and 19 of TUB,
The proposed acquirers notify its intention to acquire a qualifying holding to the national banking supervisor of the target bank. The national supervisor performs the initial assessment and prepares a draft proposal for the ECB. In cooperation with the national supervisor, the ECB performs its own assessment and then notifies the proposed acquirer and the national supervisor(s) involved about the outcome of the assessment.
The consultation is open until 22th March 2021.
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