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Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 3 CELEX: 32025L0001 Designation of resolution authorities and competent ministries
1. Each Member State shall designate one or, exceptionally, more resolution authorities that are empowered to apply the resolution tools and exercise the resolution powers. 2. Resolution authorities shall be national central banks, competent ministries, public administrative authorities or authorities entrusted with public administrative powers. 3. Where a resolution authority is entrusted with other functions, including supervisory functions, adequate structural arrangements shall be in place to avoid conflicts of interest between the functions entrusted to the resolution authority pursuant to this Directive and supervisory or other functions, without prejudice to the exchange of information and cooperation obligations required by paragraph 6. Member States shall ensure that those arrangements ensure effective operational independence, including separate staff, reporting lines and decision-making processes of the resolution authority from any supervisory or other functions of that resolution authority. |
Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 3 CELEX: 32025L0001 4. The requirements laid down in paragraph 3 shall not preclude that: (a) reporting lines converge at the highest level or senior management level of an organisation that subsumes different functions or authorities; (b) staff is shared, under predefined conditions, between the resolution function and other functions, including supervisory functions, to meet temporarily high workloads, or for the resolution authority to be able to avail itself of the expertise of shared staff. 5. Resolution authorities shall adopt and make public internal rules to prevent conflicts of interest in compliance with the requirements set out in paragraphs 3 and 4, including rules regarding professional secrecy and information exchanges between the different functional areas. 6. Member States shall require that authorities exercising supervision and resolution functions and persons exercising those functions on their behalf cooperate closely in the preparation, planning and application of resolution decisions, both where the resolution authority and the supervisory authority are separate entities and where the functions are carried out in the same entity. |
Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 3 CELEX: 32025L0001 7. Each Member State shall designate a single ministry as the competent ministry under this Directive. Where relevant, Member States shall ensure that an appropriate coordination mechanism with other involved ministries is put in place. 8. Where the resolution authority in a Member State is not the competent ministry, the resolution authority shall inform the competent ministry of the decisions taken pursuant to this Directive without undue delay and, unless otherwise laid down in national law, not implement any decisions that have a direct fiscal impact without having obtained the approval of that competent ministry. 9. Where a Member State designates more than one resolution authority, it shall provide the Commission and EIOPA with a fully reasoned notification for doing so and shall clearly allocate functions and responsibilities between those authorities, ensure adequate coordination between them and designate a single authority as a contact authority for the purposes of cooperation and coordination with the relevant authorities of other Member States. |
Directive (EU) 2025/1 of the European Parliament and of the Council of 27 November 2024 establishing a framework for the recovery and resolution of insurance and reinsurance undertakings and amending Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 and Regulations (EU) No 1094/2010, (EU) No 648/2012, (EU) No 806/2014 and (EU) 2017/1129 (Text with EEA relevance) article 3 CELEX: 32025L0001 10. Member States shall inform EIOPA of the national authority or authorities designated as resolution authorities and, where relevant, of the contact authority and their specific functions and responsibilities. EIOPA shall publish the list of those resolution authorities and contact authorities. 11. Without prejudice to Article 67, Member States may limit the liability of the resolution authority, the supervisory authority and their respective staff in accordance with national law for their acts and omissions in the course of discharging their functions under this Directive. |