Supervisory colleges

(1) Where the Bundesanstalt is the competent authority under section 56, it may establish supervisory colleges to support the exercise of the tasks referred to in subsection (2). In doing so the Bundesanstalt ensures coordination and cooperation with the competent supervisory authorities of third countries, in particular to give effect to Article 23(1), letter c) and (2) of Regulation (EU) 2019/2033. The Bundesanstalt may also establish supervisory colleges where subsidiary undertakings of a securities institution group headed by a securities institution having its seat in a state party, an EU parent investment holding company or a mixed EU parent financial holding company are situated in a third country.
(2) The supervisory colleges decide the framework within which the Bundesanstalt, as the authority competent for group supervision, the European Banking Authority and other competent bodies, within the scope of their respective competences, perform the following tasks:
1. exercising the duties to inform in a crisis situation under section 57;
2. coordinating requests for information, insofar as necessary to facilitate supervision on a consolidated basis in accordance with Article 7 of Regulation (EU) 2019/2033;
3. coordinating requests for information where several competent authorities of securities institutions belonging to the same group need to request information on the margin model and the parameters used to calculate the margin requirements applicable to the securities institution concerned, either from the competent body of the home state party of a clearing member or from the competent body of the qualifying central counterparty;
4. exchanging information between all competent authorities and with the European Banking Authority under Article 21 of Regulation (EU) No 1093/2010 and with the European Securities and Markets Authority under Article 21 of Regulation (EU) No 1095/2010;
5. reaching agreement on a voluntary delegation of tasks and responsibilities between the competent authorities and other competent bodies; and
6. increasing the efficiency of supervision by eliminating unnecessary duplication of supervisory requirements.
(3) The European Banking Authority takes part in the meetings of the supervisory colleges under Article 21 of Regulation (EU) No 1093/2010.
(4) The members of the supervisory colleges are
1. the competent authorities for the supervision of subsidiary undertakings of a securities institution group headed by a securities institution having its seat in a state party, an EU parent investment holding company or a mixed EU parent financial holding company; and
2. the supervisory authorities and competent bodies of third countries, subject to compliance with the confidentiality requirements of Article 15 of Directive (EU) 2019/2034.
(5) The Bundesanstalt chairs the meetings of the supervisory colleges established under subsection (1) and takes the decisions. It keeps all members of the supervisory college informed on an ongoing and comprehensive basis
1. in advance, about the organisation of meetings, the main items on the agenda, and the activities to be considered; and
2. about the decisions taken, or the measures carried out, at the meetings. In its decisions the Bundesanstalt takes into account the relevance of the supervisory activity to be planned or coordinated by the bodies referred to in subsection (4). The Bundesanstalt determines the arrangements for the establishment and operation of the respective supervisory college in consultation with the competent authorities.
(6) In performing the tasks under subsections (1), (2) and (5), the Bundesanstalt and the Deutsche Bundesbank cooperate.