### it is necessary to ensure the continuity of the functioning of union delegations and in particular the continuity and efficiency in the management of external aid by the delegations . therefore the commission should be authorised to subdelegate its powers of budget implementation of operational expenditure to heads of union delegations belonging to eeas as a separate institution . furthermore , where the commission implements the budget under direct centralised management , it should be allowed to do so also through sub - delegation to heads of union delegations . the authorising officers by delegation of the commission should continue to be responsible for the definition of internal management and control systems , while the heads of union delegations should be responsible for the adequate set up and functioning of internal management and control systems and for the management of the funds and the operations carried out within their delegations and they should report twice a year to that effect . ### it is necessary to ensure the continuity of the functioning of union delegations and in particular the continuity and efficiency in the management of external aid by the delegations . therefore the commission should be authorised to subdelegate its powers of budget implementation of operational expenditure to heads of union delegations belonging to eeas as a separate institution . furthermore , where the commission implements the budget under direct centralised management , it should be allowed to do so also through sub - delegation to heads of union delegations . the authorising officers by delegation of the commission should continue to be responsible for the definition of internal management and control systems , while the heads of union delegations should be responsible for the adequate set up and functioning of internal management and control systems and for the management of the funds and the operations carried out within their delegations and they should report twice a year to that effect . such delegation should be capable of being revoked in accordance with the rules applicable to the commission .


### in article 85 , the following paragraphs are added : ' for the purposes of the internal auditing of the eeas , heads of union delegations , acting as authorising officers by subdelegation in accordance with the second paragraph of article 51 shall be subject to the verifying powers of the internal auditor of the commission for the financial management sub - delegated to them . for reasons of coherence , efficiency and cost - effectiveness , the internal auditor of the commission shall also act as the internal auditor of the eeas in respect of the budget implementation of the eeas section of the budget . ' ### in article 85 , the following paragraph is added : ' the commission’s internal auditor shall have the same responsibilities in respect of the eeas referred to in article 1 , as he / she has in respect of commission departments . '


### the treaty of lisbon establishes a european external action service . according to the conclusions of the european council of 29 and 30 october 2009 , the eeas is a service of a sui generis nature and should be treated as an institution for the purposes of the financial regulation . ### the treaty of lisbon establishes a european external action service . according to the council decision 2010 / . . . / eu of . . . establishing the organisation and functioning of the european external action service , the eeas is a service of a sui generis nature and is to be treated as an institution for the purposes of the financial regulation .


### in section 2 , the following article 60a is added : ' article 60a where heads of union delegations act as authorising officers by subdelegation in accordance with the second paragraph of article 51 , they shall cooperate closely with the commission for the proper implementation of the funds , in order to ensure in particular the legality and regularity of financial transactions , the respect of the principle of sound financial management in the management of the funds and the effective protection the financial interests of the union . to this effect , they shall take the measures necessary to prevent any situation susceptible to put at stake the responsibility of the commission for the implementation of the budget sub - delegated to them as well as any conflict of interest or priorities having impact on the implementation of the financial management tasks sub - delegated to them . where a situation or conflict referred to in the second subparagraph arise , the heads of union delegations shall inform the responsible commission department and the high representative of the union for foreign affairs and security policy thereof without delay . 2 . when a head of a union delegation finds himself in a situation referred to in article 60 , he shall refer to the specialised financial irregularities panel set up pursuant to article 66 . in the event of any illegal activity , fraud or corruption which may harm the interests of the union , he shall inform the authorities and bodies designated by the applicable legislation . 3 . heads of union delegations acting as authorising officers by subdelegation in accordance with the second paragraph of article 51 shall report twice a year to their authorising officer by delegation so that the latter can integrate their reports in his annual activity report referred to in article 60 . that biannual report submitted by the heads of union delegation shall include information on the efficiency and effectiveness of internal management and control systems put in place in their delegation , as well as the management of operations subdelegated to them . 4 . heads of union delegations acting as authorising officers by subdelegation in accordance with the second paragraph of article 51 shall reply to any request by the authorising officer by delegation of commission . ' ### in section 2 , the following article 60a is added : ' article 60a where heads of union delegations act as authorising officers by subdelegation in accordance with the second paragraph of article 51 , they shall cooperate closely with the commission for the proper implementation of the funds , in order to ensure in particular the legality and regularity of financial transactions , the respect of the principle of sound financial management in the management of the funds and the effective protection the financial interests of the union . to this effect , they shall take the measures necessary to prevent any situation susceptible to put at stake the responsibility of the commission for the implementation of the budget sub - delegated to them as well as any conflict of priorities which is likely to have an impact on the implementation of the financial management tasks sub - delegated to them . where a situation or conflict referred to in the second subparagraph arise , the heads of union delegations shall inform the responsible directors - general of the commission and of the eeas thereof without delay . the latter shall take appropriate steps to remedy the situation . 2 . when a head of a union delegation finds himself in a situation referred to in article 60 , he shall refer to the specialised financial irregularities panel set up pursuant to article 66 . in the event of any illegal activity , fraud or corruption which may harm the interests of the union , he shall inform the authorities and bodies designated by the applicable legislation . 3 . heads of union delegations acting as authorising officers by subdelegation in accordance with the second paragraph of article 51 shall report to their authorising officer by delegation in the form of an annual activity report in application , mutatis mutandis , of article 60 so that the latter can integrate their reports in his annual activity report . the heads of delegations ' annual activity reports shall be annexed , together with the statement of assurance pursuant to article 66 , to the annual activity report of the authorising officer by delegation , which shall be transmitted to the european parliament in accordance with article 60 . upon request , the heads of delegations shall report on the execution of their budgetary duties to the european parliament ' s competent committee . an annual intermediate report submitted by the heads of union delegations shall include information on the efficiency and effectiveness of internal management and control systems put in place in their delegation , as well as the management of operations subdelegated to them . 4 . heads of union delegations acting as authorising officers by subdelegation in accordance with the second paragraph of article 51 shall reply to any request by the authorising officer by delegation of commission as well as the european parliament ' s competent committee . '


### the expenditure of europol shall include staff remuneration , administrative and infrastructure expenses , and operating costs . ### the expenditure of europol shall include staff remuneration , administrative and infrastructure expenses , and operating costs . operational expenditure for activities related to the law enforcement training scheme under this regulation shall be dealt with separately and shall have separate budgetary and accounting reporting .


### it is not appropriate to extend limitations of the use of phosphates and other phosphorous compounds in household laundry detergents to household automatic dishwasher detergents or to industrial and institutional detergents because suitable technically and economically feasible alternatives to the use of phosphates in those detergents are not yet available . ### it is not appropriate to extend the ban on phosphates in household laundry detergents to household automatic dishwasher detergents or to industrial and institutional detergents or to restrict the use of phosphates in those detergents because suitable technically and economically feasible alternatives to the use of phosphates in those detergents are not yet available .


### member states may maintain or lay down national rules concerning restrictions on the content of phosphates and of other phosphorous compounds in detergents for which no restrictions on the content are set out in annex via where justified on grounds of protection of the aquatic environment and where technically and economically feasible alternatives are available . ### member states may maintain national rules concerning limitations on the content of phosphates and of other phosphorous compounds in detergents for which no limitations on the content are set out in annex via where justified on grounds of protection of the aquatic environment and where technically and economically feasible alternatives are available .


### it is not appropriate to extend limitations of the use of phosphates and other phosphorous compounds in household laundry detergents to household automatic dishwasher detergents or to industrial and institutional detergents because suitable technically and economically feasible alternatives to the use of phosphates in those detergents are not yet available . ### it is not appropriate to extend limitations of the use of phosphates and other phosphorous compounds in household laundry detergents to household automatic dishwasher detergents or to industrial and institutional detergents because suitable technically and economically feasible alternatives to the use of phosphates in those detergents are not yet available and because an impact assessment is not yet available evaluating the impacts of extending limitations to household automatic dishwasher detergents , in particular evaluating reformulation costs and the impact of chemicals used in phosphate - free formulations , household water and energy consumption in the consumer use phase , and the economic costs to consumers .


### the facility shall provide community resources to increase access to micro - credits for : ### the facility shall provide community resources to increase access and availability to micro - credits for :


### a european microfinance facility for employment and social inclusion , called the progress microfinance facility , is hereby established . ### a european microfinance facility for employment and social inclusion , called the european microfinance facility , is hereby established .


### micro - enterprises in the social economy which employ persons who have lost their job or which employ disadvantaged persons , including the young . ### micro - enterprises , including those in the social economy sector , which provide jobs for the unemployed , the disadvantaged , persons suffering from extreme poverty , or persons at risk of social exclusion .


### for companies whose average number of employees during the financial year exceeds 500 and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to at least environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including : ### for companies whose average number of employees during the financial year exceeds 500 and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to not only environmental but also social and employee matters , as well as respect for human rights , anti - corruption and bribery matters , including :


### for parent undertakings of undertakings to be consolidated that together exceed an average number of 500 employees during the financial year , and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to at least environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including the following : ### for parent undertakings of undertakings to be consolidated that together exceed an average number of 1000 employees during the financial year , and , on their balance sheet dates , exceed either a balance sheet total of eur 40 million or a net turnover of eur 80 million , the review shall also include a non - financial statement containing information relating to at least respect for human rights , anti - corruption and bribery matters , including the following :


### for companies whose average number of employees during the financial year exceeds 500 and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to at least environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including : ### for large companies whose average number of employees during the financial year exceeds 1000 and , on their balance sheet dates , exceed either a balance sheet total of eur 40 million or a net turnover of eur 80 million , the review shall also include a non - financial statement containing information relating to at least respect for human rights , anti - corruption and bribery matters , including :


### for parent undertakings of undertakings to be consolidated that together exceed an average number of 500 employees during the financial year , and , on their balance sheet dates , exceed either a balance sheet total of eur 20 million or a net turnover of eur 40 million , the review shall also include a non - financial statement containing information relating to at least environmental , social and employee matters , respect for human rights , anti - corruption and bribery matters , including the following : ### for listed parent undertakings of undertakings to be consolidated that together exceed an average number of 500 employees during the financial year , and , on their balance sheet dates , exceed either a balance sheet total of eur 40 million or a net turnover of eur 80 million , the review shall also include a non - financial statement or a reference to a non - financial statement containing information relating to matters which are material for understanding the company ' s development , performance or position , including at least environmental and employee matters and on a voluntary basis , also for instance social matters , respect for human rights , anti - corruption and bribery matters including the following :


### if the commissioning of a project of common interest is delayed by more than two years compared to the implementation plan without sufficient justification : ### if the construction and commissioning of a project of common interest is delayed compared to the implementation plan , other than for overriding reasons beyond the control of the project promoter :


### the authorities , stakeholders , and the public likely to be concerned ; ### the national and regional authorities , stakeholders , and the public likely to be concerned ;


### when ranking projects contributing to the implementation of the same priority , due consideration shall also be given to the urgency of each proposed project in order to meet the energy policy targets of market integration and competition , sustainability and security of supply , the number of member states affected by each project , and its complementarity with regard to other proposed projects . for projects falling under the category set out in point 1 of annex ii , due consideration shall also be given to the number of users affected by the project , the annual energy consumption and the share of generation from non dispatchable resources in the area covered by these users . ### each group shall rank projects contributing to the implementation of the same priority corridors or areas . each group shall determine in its terms of reference a method of ranking and the relative weight of the criteria set out in the second subparagraph and in paragraph 2 ; ranking may therefore lead to a general grouping of projects . in this context , and whilst ensuring equal opportunities for projects involving peripheral member states , due consideration shall be given to : the urgency of each proposed project in order to meet the eu energy policy targets of market integration and competition , sustainability and security of supply ; the number of member states affected by each project , and its complementarity with regard to other proposed projects . for ' smart grids ' projects falling under the category set out in point 1 of annex ii , ranking shall be done for those projects that affect the same two member states , and due consideration shall also be given to the number of users affected by the project , the annual energy consumption and the share of generation from non dispatchable resources in the area covered by these users .


### first , an important part of the fleet flying the flag of france and operating from the french department of mayotte is composed by vessels of less than 9 meters which are dispersed around the island , have no specific landing sites and still need to be identified , measured and equipped with minimum safety implements in order to be included in the register of union fishing vessels ; as a consequence , france will not be able to complete this register until 31 december 2016 . france should , however , install a provisional fleet register guaranteeing minimum identification of the vessels of this segment in order to avoid proliferation of informal fishing vessels . ### first , an important part of the fleet flying the flag of france and operating from the french department of mayotte is composed by vessels of less than 10 meters which are dispersed around the island , have no specific landing sites and still need to be identified , measured and equipped with minimum safety implements in order to be included in the register of union fishing vessels ; as a consequence , france will not be able to complete this register until 31 december 2020 . france should , however , install a provisional fleet register guaranteeing minimum identification of the vessels of this segment in order to avoid proliferation of informal fishing vessels .


### as regards council regulation no 1224 / 2009 of 20 november 2009 establishing a community control system for ensuring compliance with the rules of the common fisheries policy , amending regulations no 847 / 96 , no 2371 / 2002 , no 811 / 2004 , no 768 / 2005 , no 2115 / 2005 , no 2166 / 2005 , no 388 / 2006 , no 509 / 2007 , no 676 / 2007 , no 1098 / 2007 , no 1300 / 2008 , no 1342 / 2008 and repealing regulations no 2847 / 93 , no 1627 / 94 and no 1966 / 20069 , it appears that france will not be in a position to comply with all union control obligations for the segment ' mayotte . pelagic and demersal species . length __________________ 9 oj l 343 , 22 . 12 . 09 , p . 1 . ### as regards council regulation no 1224 / 2009 of 20 november 2009 establishing a community control system for ensuring compliance with the rules of the common fisheries policy , amending regulations no 847 / 96 , no 2371 / 2002 , no 811 / 2004 , no 768 / 2005 , no 2115 / 2005 , no 2166 / 2005 , no 388 / 2006 , no 509 / 2007 , no 676 / 2007 , no 1098 / 2007 , no 1300 / 2008 , no 1342 / 2008 and repealing regulations no 2847 / 93 , no 1627 / 94 and no 1966 / 20069 , it appears that france will not be in a position to comply with all union control obligations for the segment ' mayotte . pelagic and demersal species . length 10m ' of the fleet of mayotte by the date on which mayotte becomes an outermost region . the vessels of that segment , dispersed around the island , have no specific landing sites and still need to be identified . in addition , it is necessary to train fishermen and controllers and to set up the appropriate administrative and physical infrastructure . it is therefore necessary to provide for a temporary derogation from certain rules concerning the control of fishing vessels and their characteristics , their activities at sea , their gear and their catches at all stages from the vessel to the market in respect of that segment of the fleet . however , in order to attain at least some of the most important objectives of regulation no 1224 / 2009 , france should establish a national control system allowing it to control and monitor the activities of that segment of the fleet and to comply with the international reporting obligations of the union . __________________ 9 oj l 343 , 22 . 12 . 2009 , p . 1 .


### as regards council regulation no 1224 / 2009 of 20 november 2009 establishing a community control system for ensuring compliance with the rules of the common fisheries policy , amending regulations no 847 / 96 , no 2371 / 2002 , no 811 / 2004 , no 768 / 2005 , no 2115 / 2005 , no 2166 / 2005 , no 388 / 2006 , no 509 / 2007 , no 676 / 2007 , no 1098 / 2007 , no 1300 / 2008 , no 1342 / 2008 and repealing regulations no 2847 / 93 , no 1627 / 94 and no 1966 / 20069 , it appears that france will not be in a position to comply with all union control obligations for the segment ' mayotte . pelagic and demersal species . length __________________ 9 oj l 343 , 22 . 12 . 2009 , p . 1 . ### as regards council regulation no 1224 / 2009 of 20 november 2009 establishing a community control system for ensuring compliance with the rules of the common fisheries policy , amending regulations no 847 / 96 , no 2371 / 2002 , no 811 / 2004 , no 768 / 2005 , no 2115 / 2005 , no 2166 / 2005 , no 388 / 2006 , no 509 / 2007 , no 676 / 2007 , no 1098 / 2007 , no 1300 / 2008 , no 1342 / 2008 and repealing regulations no 2847 / 93 , no 1627 / 94 and no 1966 / 20069 , it appears that france will not be in a position to comply with all union control obligations for the segment ' mayotte . pelagic and demersal species . length 10m ' of the fleet of mayotte by the date on which mayotte becomes an outermost region . the vessels of that segment , dispersed around the island , have no specific landing sites and still need to be identified . in addition , it is necessary to train fishermen and controllers and to set up the appropriate administrative and physical infrastructure . it is therefore necessary to provide for a temporary derogation from certain rules concerning the control of fishing vessels and their characteristics , their activities at sea , their gear and their catches at all stages from the vessel to the market in respect of that segment of the fleet . however , in order to attain at least some of the most important objectives of regulation no 1224 / 2009 , france should establish a national control system allowing it to control and monitor the activities of that segment of the fleet and to comply with the international reporting obligations of the union . __________________ 9 oj l 343 , 22 . 12 . 2009 , p . 1 .


### first , an important part of the fleet flying the flag of france and operating from the french department of mayotte is composed by vessels of less than 9 meters which are dispersed around the island , have no specific landing sites and still need to be identified , measured and equipped with minimum safety implements in order to be included in the register of union fishing vessels ; as a consequence , france will not be able to complete this register until 31 december 2016 . france should , however , install a provisional fleet register guaranteeing minimum identification of the vessels of this segment in order to avoid proliferation of informal fishing vessels . ### first , an important part of the fleet flying the flag of france and operating from the french department of mayotte is composed by vessels of less than 10 meters which are dispersed around the island , have no specific landing sites and still need to be identified , measured and equipped with minimum safety implements in order to be included in the register of union fishing vessels ; as a consequence , france will not be able to complete this register until 31 december 2021 . france should , however , install a provisional fleet register guaranteeing minimum identification of the vessels of this segment in order to avoid proliferation of informal fishing vessels .


### as regards council regulation no 850 / 98 of 30 march 1998 for the conservation of fishery resources through technical measures for the protection of juveniles of marine organism4 , the waters around mayotte should be included within the scope of that regulation and the use of purse - seines on tuna and tuna - like schools of fish inside the area within 24 miles from the baselines of the island should be prohibited in order to preserve the shoals of large migratory fish in the vicinity of the island of mayotte . __________________ 4 oj l 125 , 27 . 04 . 1998 , p . 1 . ### as regards council regulation no 850 / 98 of 30 march 1998 for the conservation of fishery resources through technical measures for the protection of juveniles of marine organism , the waters around mayotte should be included within the scope of that regulation and the use of purse - seines on tuna and tuna - like schools of fish inside the area within 24 nautical miles from the baselines of the island should be prohibited in order to preserve the shoals of large migratory fish in the vicinity of the island of mayotte . __________________ 4 oj l 125 , 27 . 04 . 1998 , p . 1 .


### as regards council regulation no 850 / 98 of 30 march 1998 for the conservation of fishery resources through technical measures for the protection of juveniles of marine organism4 , the waters around mayotte should be included within the scope of that regulation and the use of purse - seines on tuna and tuna - like schools of fish inside the area within 24 miles from the baselines of the island should be prohibited in order to preserve the shoals of large migratory fish in the vicinity of the island of mayotte . __________________ 4 oj l 125 , 27 . 04 . 98 , p . 1 . ### as regards council regulation no 850 / 98 of 30 march 1998 for the conservation of fishery resources through technical measures for the protection of juveniles of marine organism4 , given mayotte’s status as an outermost region within the meaning of article 349 tfeu , the waters around it should be included within the scope of that regulation and the use of purse - seines on tuna and tuna - like schools of fish inside the area within 100 miles from the baselines of the island should be prohibited in order to preserve the shoals of large migratory fish in the vicinity of the island of mayotte . __________________ 4 oj l 125 , 27 . 4 . 1998 , p . 1 .


### by decision 2012 / 419 / eu3 , the european council amended the status of mayotte with regard to the union with effect from 1 january 2014 . therefore , from that date mayotte will cease to be an overseas territory to become an outermost region within the meaning of articles 349 and 355 tfeu . union law will apply to mayotte from 1 january 2014 . it is appropriate to provide for certain specific measures justified by the particular situation of mayotte in a number of areas . __________________ 3 ol l 204 , 31 . 7 . 2012 , p . 131 . ### by decision 2012 / 419 / eu3 , the european council amended the status of mayotte with regard to the union with effect from 1 january 2014 . therefore , from that date mayotte will cease to be an overseas country and territory to become an outermost region within the meaning of articles 349 and 355 tfeu . in view of the change in legal status of mayotte , union law will apply to mayotte from 1 january 2014 . it is appropriate to provide for certain specific measures justified by the particular situation of mayotte , in particular its island status and remoteness , in a number of areas . __________________ 3 oj l 204 , 31 . 7 . 2012 , p . 131 .


### having regard to the treaty on the functioning of the european union , and in particular article 43 and article 168 thereof , ### having regard to the treaty on the functioning of the european union , and in particular articles 43 , 349 and 168 thereof ,


### by decision 2012 / 419 / eu3 , the european council amended the status of mayotte with regard to the union with effect from 1 january 2014 . therefore , from that date mayotte will cease to be an overseas territory to become an outermost region within the meaning of articles 349 and 355 tfeu . union law will apply to mayotte from 1 january 2014 . it is appropriate to provide for certain specific measures justified by the particular situation of mayotte in a number of areas . __________________ 3 oj l 204 , 31 . 7 . 2012 , p . 131 . ### by decision 2012 / 419 / eu3 , the european council amended the status of mayotte with regard to the union with effect from 1 january 2014 . therefore , from that date mayotte will cease to be an overseas country or territory within the meaning of article 198 of the treaty on the functioning of the european union and become an outermost region within the meaning of articles 349 and 355 of that treaty . union law will apply to mayotte from 1 january 2014 . it is appropriate to provide for certain specific measures , justified by the particular social and economic constraints obtaining in the outermost region of mayotte and its new status as an outermost region , in a number of areas . __________________ 4 oj l 204 , 31 . 7 . 2012 , p . 131 .


### as referred to in article 13 , paragraph 2 of the ' erasmus for all ' regulation , in order to promote the international dimension of higher education , an indicative amount of eur 1 812 100 000 from the different external instruments , will be allocated to actions of learning mobility to or from non eu countries and to cooperation and policy dialogue with authorities / institutions / organisations from these countries . the provisions of the ' erasmus for all ' regulation will apply to the use of those funds . ### as referred to in article 13 , paragraph 2 of the ' erasmus for all ' regulation , in order to promote the international dimension of higher education , an indicative amount , corresponding to 2 % of the financial allocations available for the participating instruments , will be allocated to actions of learning mobility to or from non eu countries and to cooperation and policy dialogue with authorities / institutions / organisations from these countries . the provisions of the ' erasmus for all ' regulation will apply to the use of those funds .


### the commission and the member states should ensure the compliance , coherence , and complementarity of their assistance , in particular through regular consultations and frequent exchanges of information during the different phases of the assistance cycle . ### the commission and the member states should ensure the consistency , coherence , and complementarity of their assistance , in particular through regular consultations and frequent exchanges of information during the different phases of the assistance cycle . furthermore , coherence between the assistance provided by the commission , member states , the european investment bank and other international , local and regional aid providers should be guaranteed .


### candidate countries and potential candidates need to be better prepared to withstand global challenges , such as sustainable development and climate change , and align with the union’s efforts to address these issues . union assistance under this regulation should also contribute to the goal of raising the climate - related proportion of the union budget to at least 20 % . ### candidate countries and potential candidates need to be better prepared to withstand global challenges , such as sustainable development and climate change , and align with the union’s efforts to address these issues . union assistance under this regulation should also contribute to mainstreaming achievement of the europe 2020 goals , democracy , the rule of law , entrepreneurship , human rights , workers ' rights , environmental protection and the goal of raising the climate - related proportion of the union budget to at least 20 % .


### progress towards achievement of the specific objectives set out in paragraph 1 shall be assessed through indicators that cover inter alia : – progress in the areas of democracy , the rule of law , the respect of human rights and fundamental freedoms , the justice system and the level of administrative capacity ; – progress in economic reforms ; the soundness and effectiveness of social and economic development strategies , progress towards smart , sustainable and inclusive growth , including through public investments supported by ipa ; – the body of legislation aligned with the acquis ; progress in union - related institutional reform , including transition to decentralised management of the assistance provided under this regulation ; – the relevance of regional and territorial cooperation initiatives and the evolution of trade flows . the indicators shall be used for monitoring , evaluation and review of performance , as appropriate . ### progress towards achievement of the specific objectives set out in paragraph 1 shall be assessed through qualitative and quantitative indicators that cover inter alia : – progress in the areas of democracy , the rule of law , the respect of human rights and fundamental freedoms , the justice system and the level of administrative and absorption capacity ; – progress in economic and fiscal reforms , addressing any fiscal imbalance ; the soundness and effectiveness of social and economic development strategies , progress towards smart , sustainable and inclusive growth , including through public investments supported by ipa ; – the body of legislation aligned with the acquis ; progress in union - related institutional reform , including transition to decentralised management of the assistance provided under this regulation ; – the relevance of regional and territorial cooperation initiatives and the evolution of trade flows . the quantitative and qualitative indicators included in the strategy papers shall be used for monitoring , evaluation and review of performance , as appropriate .


### assistance under this regulation shall pursue the following specific objectives according to the needs of each beneficiary country and their individual enlargement agenda : support for political reforms , inter alia : strengthening of democratic institutions and the rule of law , including its implementation ; promotion and protection of human rights and fundamental freedoms , enhanced respect for minority rights , promotion of gender equality , non - discrimination and freedom of the press , and promotion of good neighbourly relations ; the fight against corruption and organised crime ; public administration reform and good governance ; the development of civil society and social dialogue ; reconciliation , peace building and confidence building measures . support for economic , social and territorial development , with a view to a smart , sustainable and inclusive growth , inter alia through : the achievement of union standards in the economy and economic governance ; economic reforms necessary to cope with competitive pressure and market forces within the union , while pursuing economic , social and environmental goals ; fostering employment and developing human capital ; social and economic inclusion , in particular of minorities and vulnerable groups ; development of physical capital , the improvement of connections with union and regional networks . strengthening of the ability of beneficiary countries to fulfil the obligations stemming from membership by supporting progressive alignment with and adoption , implementation and enforcement of the acquis communautaire , structural , cohesion , agricultural and rural development funds and policies of the union . regional integration and territorial cooperation involving beneficiary countries , member states and , where appropriate , third countries within the scope of regulation no [ … ] establishing a european neighbourhood instrument . ### assistance under this regulation shall pursue the following specific objectives according to the needs of each beneficiary country and their individual enlargement agenda : support for political reforms , inter alia : strengthening of democratic institutions and the rule of law , including its implementation ; promotion and protection of human rights and fundamental freedoms , enhanced respect for minority rights , promotion of gender equality , non - discrimination and freedom of the press , and promotion of good neighbourly relations ; the fight against corruption and organised crime ; public administration reform and good governance ; the development of civil society and social dialogue ; reconciliation , peace building and confidence building measures support for economic , social and territorial development , with a view to a smart , sustainable and inclusive growth , inter alia through : the achievement of union standards in the economy and economic governance , including fiscal stability ; economic reforms necessary to cope with competitive pressure and market forces within the union , while pursuing economic , social and environmental goals ; fostering employment and developing human capital ; social and economic inclusion , in particular of minorities and vulnerable groups ; development of physical capital , the improvement of connections with union and regional networks . strengthening of the ability of beneficiary countries to fulfil the obligations stemming from membership by supporting progressive alignment with and adoption and implementation of the acquis communautaire , management of the union ' s funds and attainment of the europe 2020 targets . regional integration and territorial cooperation involving beneficiary countries , member states and , where appropriate , third countries within the scope of regulation no [ … ] establishing a european neighbourhood instrument , as well as macro - regional strategies .


### for providers of gambling services , when carrying out occasional transactions amounting to eur 2 000 or more , whether the transaction is carried out in a single operation or in several operations which appear to be linked ; ### for casinos , when carrying out occasional transactions amounting to eur 2 000 or more , whether the transaction is carried out in a single operation or in several operations which appear to be linked ; for on - line gambling when establishing the business relationship ; for other providers of gambling services , regarding the payment of prizes amounting to eur 2 000 or more , whether the transaction is carried out in a single operation or in several operations which appear to be linked ;


### member states shall ensure that corporate or legal entities established within their territory obtain and hold adequate , accurate and current information on their beneficial ownership . ### member states shall ensure that corporate or legal entities created within their territory obtain and hold adequate , accurate and current information on their beneficial ownership .


### the european banking authority , european insurance and occupational pensions authority and european securities and markets authority shall provide a joint opinion on the money laundering and terrorist financing risks affecting the internal market . the opinion shall be provided within 2 years from the date of entry into force of this directive . ### the european commission shall produce an assessment on the money laundering and terrorist financing risks affecting the internal market . in order to produce such assessment , the european commission will consult europol , the european banking authority , the european insurance and occupational pensions authority , the european securities and markets authority , and other authorities , as necessary . the assessment shall be produced within 2 years from the date of entry into force of this directive .


### providers of gambling services ; ### casinos ; on - line gambling ; other providers of gambling services , regarding the payment of prizes ;


### the commission shall make the opinion available to assist member states and obliged entities to identify , manage and mitigate the risk of money laundering and terrorist financing . ### the commission shall make the assessment available to assist member states and obliged entities to identify , manage and mitigate the risk of money laundering and terrorist financing .


### real estate agents , including letting agents ; ### real estate agents ;


### at the request of the applicant , the vehicle authorisation for placing on the market may include a clear indication of the networks or lines or groups of networks or lines where the railway undertaking may place such a vehicle in service without further verifications , checks or tests concerning the technical compatibility between the vehicle and these networks or lines . in that case , the applicant shall include in its request the proof of the technical compatibility of the vehicle with the networks or lines concerned . ### the vehicle authorisation for placing on the market includes a clear indication of the networks or lines or groups of networks or lines where the railway undertaking may place such a vehicle in service without further verifications , checks or tests concerning the technical compatibility between the vehicle and these networks or lines . this indication may be extended to other networks or lines , at the request of the original or another applicant , after the relevant authorisation for placing on the market has been issued .


### it is necessary for safety reasons to assign an identification code to each vehicle placed in service . the vehicle should then be entered in a national vehicle register . the registers should be open to consultation by all member states and by certain economic players within the union . the national vehicle registers should be consistent as regards the data format . they should therefore be covered by common operational and technical specifications . ### it is necessary for safety reasons to assign an identification code to each vehicle placed in service . the vehicle should then be entered in a european vehicle register . the register should be public .


### it shall be kept updated by a body independent of any railway undertaking ; ### it shall be kept updated by the agency ;


### the commission shall adopt common specifications on content , data format , functional and technical architecture , operating mode , including arrangements for the exchange of data , and rules for data input and consultation for the national vehicle registers by means of implementing acts . those implementing acts shall be adopted in accordance with the examination procedure referred to in article 48 ### the commission shall adopt common specifications on content , data format , functional and technical architecture , operating mode , including arrangements for the exchange of data , and rules for data input and consultation for the european vehicle register by means of implementing acts . those implementing acts shall be adopted in accordance with the examination procedure referred to in article 48 .


### national vehicle registers ### european vehicle register


### 2 . each lift must be accompanied by instructions for use drawn up in a language which can be easily understood by consumers and other end - users , as determined by the member state concerned . those instructions for use shall contain at least the following documents : ### 2 . each lift must be accompanied by instructions and safety information for use drawn up in a language which can be easily understood by consumers and other end - users , as determined by the member state concerned . such instructions and safety information , and any labelling , shall be clear , understandable and intelligible . the instructions and safety information shall contain at least the following documents :


### the existing system should be supplemented by a procedure under which interested parties are informed of measures intended to be taken with regard to lifts or safety components for lifts presenting a risk to the health and safety of persons or to other aspects of public interest protection . it should also allow market surveillance authorities , in cooperation with the relevant economic operators , to act at an earlier stage in respect of such lifts and safety components for lifts . ### the existing system should be supplemented by a procedure under which interested parties are informed of measures intended to be taken with regard to lifts or safety components for lifts presenting a risk to the health and safety of persons , including the safety of children , the elderly and persons with disabilities in those cases where lifts are intended for transport of persons , or to other aspects of public interest protection . it should also allow market surveillance authorities , in cooperation with the relevant economic operators , to act at an earlier stage in respect of such lifts and safety components for lifts .


### economic operators should be responsible for the compliance of lifts and safety components for lifts , in relation to their respective roles in the supply chain , so as to ensure a high level of protection of public interests , such as health and safety , and the protection of consumers and to guarantee fair competition on the union market . ### economic operators should be responsible for the compliance of lifts and safety components for lifts , in relation to their respective roles in the supply chain , so as to ensure a high level of protection of public interests , such as health and safety , and the protection of consumers , including a high level of protection of vulnerable consumers in those cases where lifts are intended for transport of persons , and to guarantee fair competition on the union market .


### the standards shall be adopted by the commission by means of regulations or decisions and published in the official journal of the european union . ### the commission shall adopt technical standards in accordance with articles 7a to 7d , in the form of regulations or decisions .


### the european parliament may invite the chairperson or his or her alternate , while fully respecting his or her independence , to make a statement regularly before its competent committee and answer questions put by members of that committee . ### the chairperson shall make a statement before the european parliament and answer any questions put by its members .


### where the national authority does not comply with the recommendation , the commission should be empowered to address a decision to the national supervisory authority concerned in order to ensure compliance with community law , creating direct legal effects which can be invoked before national courts and authorities and enforced under article 226 of the treaty . ### where the national authority does not comply with the recommendation , within a deadline fixed by the authority , the authority should be able to address a decision without delay to the national supervisory authority concerned in order to ensure compliance with union law , creating direct legal effects which can be invoked before national courts and authorities and enforced under article 258 of the treaty .


### the standards shall be adopted by the commission by means of regulations or decisions and published in the official journal of the european union . ### the standards shall be adopted by the commission by means of regulations or decisions as delegated acts in accordance with article 290 of the treaty on the functioning of the european union .


### where the authority maintains its decision , the council , acting by qualified majority as defined in article 205 of the treaty , shall , within two months , decide whether the authority ' s decision is maintained or revoked . ### where the authority maintains its decision , the council shall take a decision whether the authority ' s decision is maintained or revoked on the basis of a qualified majority of its members , as defined in article 16 of the treaty on european union and in article 3 of the protocol no 36 on transitional provisions annexed to the treaty on european union and to the treaty on the functioning of the european union , at one of its meetings at the latest two months after the authority has informed the member state as set out in the previous subparagraph .


### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by community law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should endorse those draft technical standards in accordance with community law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with community law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of community financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement . ### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by union law , with the elaboration of draft technical standards , which do not involve policy choices . these standards should thus not be in conflict with the legislation of any member state since such legislation suggests existence of a policy choice . the commission should endorse those draft technical standards in accordance with union law in order to give them binding legal effect . the draft technical standards have to be adopted or rejected by the commission according to clear and transparent principles . they would be rejected if , for example , the draft technical standards were incompatible with union law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of union financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement .


### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection of investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by community law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should endorse those draft technical standards in accordance with community law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with community law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of community financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement . ### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection of investors and consumers across the union . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by union law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should be empowered to adopt delegated acts in accordance with the procedure referred to in article 290 of the treaty on the functioning of the european union concerning technical standards in financial services .


### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by community law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should endorse those draft technical standards in accordance with community law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with community law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of community financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement . ### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection of depositors , investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by union law , with the elaboration of draft technical standards , which do not involve policy choices . when drafting the technical standards the authority should take into consideration the different structures and risk profiles of financial institutions . in particular , the authorities should seek to ensure that unnecessary burden is not placed on financial institutions that are union - based , member - owned and play an important role with regards to combating social exclusion . the commission should endorse those draft technical standards in accordance with union law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with union law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of union financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement .


### the securities and markets stakeholder group shall be composed of 30 members , representing in balanced proportions community financial market participants , their employees as well as consumers , investors and users of financial services . ### the securities and markets stakeholder group shall be composed of 30 members , representing in balanced proportions union financial market participants , their employees as well as consumers , investors and users of financial services . not less than 5 of the members shall be independent top - ranking academics . the number of members representing market participants shall not exceed 10 .


### the european system of financial supervisors should be a network of national and community supervisory authorities , leaving day - to - day supervision of financial market participants at the national level , and according a central role in the supervision of cross - border groups to colleges of supervisors . greater harmonisation and the coherent application of rules for financial market participants and markets across the community should also be achieved . a european securities and markets authority should be established , along with a european insurance and occupational pensions authority and a european banking authority . ### the european system of financial supervisors should be a network of national and union supervisory authorities , leaving day - to - day supervision of financial market participants that do not have a union dimension to the national level . colleges of supervisors should exert supervision over cross - border institutions that do not have a union dimension . the european supervisory authority should gradually take over supervision of institutions with a union dimension . greater harmonisation and the coherent application of rules for financial market participants and markets across the union should also be achieved . in addition to the authority , a european supervisory authority and a european supervisory authority as well as a european supervisory authority should be established . the european systemic risk board should be party to the european system of financial supervision .


### where the commission does not endorse the standards or endorses them in part or with amendments , it shall inform the authority of its reasons . ### where the commission does not endorse the standards it shall propose reasoned modifications and send the draft standards back to the authority . the authority may amend the draft standards on the basis of the commission’s proposed modifications and resubmit the draft standards to the commission for endorsement .


### before submitting them to the commission , the authority shall , where appropriate , conduct open public consultations on technical standards and analyse the potential related costs and benefits . ### the authority shall conduct open public consultations on technical standards and analyse the potential related costs and benefits before adopting draft technical standards . the authority shall also request an opinion or advice of the banking stakeholder group referred to in article 22 .


### the authority shall , with a view to establishing consistent , efficient and effective supervisory practices within the esfs , and to ensuring the common , uniform and consistent application of community legislation , issue guidelines and recommendations addressed to competent authorities or financial market participants . the competent authorities shall make every effort to comply with those guidelines and recommendations . where the competent authority does not apply those guidelines or recommendations it shall inform the authority of its reasons . ### the authority shall , with a view to establishing consistent , efficient and effective supervisory practices with the esfs , and to ensuring the common , uniform and consistent application of community legislation , issue guidelines and recommendations addressed to competent authorities or financial market participants . the authority shall conduct open public consultations on guidelines and recommendations and shall analyse the potential related costs and benefits . the guidelines shall be published on the authority ' s website . the competent authorities shall make every effort to comply with those guidelines and recommendations . where a competent authority does not apply those guidelines or recommendations it shall inform the authority of its reasons . the authority shall publish those reasons , giving the competent authority due notice of its intention to do so .


### where a member state considers that a decision taken under article 11 impinges on its fiscal responsibilities , it may notify the authority and the commission within one month after notification of the authority ' s decision to the competent authority that the decision will not be implemented by the competent authority . ### where a member state considers that a decision taken under article 11 impinges on its fiscal responsibilities , it may notify the authority and the commission within ten working days after notification of the authority ' s decision to the competent authority that the decision will not be implemented by the competent authority .


### the commission shall take such a decision no later than three months from the adoption of the recommendation . the commission may extend this period by one month . ### the authority shall take such a decision no later than one month from the adoption of the recommendation .


### the board of supervisors shall act on the basis of qualified majority of its members , as defined in article 205 of the treaty , for acts specified in articles 7 , 8 and all measures and decisions adopted under chapter vi . ### decisions of the board of supervisors shall be taken by simple majority of its members , according to the principle where each member has one vote .


### for that purpose , the authority shall have appropriate powers of investigation and enforcement as specified in the relevant legislation , as well as the possibility of charging fees . ### for that purpose , the authority shall have appropriate powers of investigation and enforcement as specified in the relevant legislation , as well as the possibility of charging fees . the authority may use the facilities and powers of the competent authorities to execute the exclusive supervisory powers and carry out investigations .


### the authority may develop technical standards in the areas specifically set out in the legislation referred to in article 1 . the authority shall submit its draft standards to the commission for endorsement . ### the authority may develop technical standards to complete and modify elements that are not essential to the legislative acts referred to in article 1 . the technical standards do not represent strategic decisions and their content shall be limited by the legislation on which they are based .


### without prejudice to the powers of the commission under article 226 of the treaty , where a competent authority does not comply with the decision of the authority referred to in paragraph 2 within the period laid down therein , the authority may , where the relevant requirements laid down in the legislation referred to in article 1 are directly applicable to financial market participants , adopt an individual decision addressed to a financial market participant requiring the necessary action to comply with its obligations under that legislation , including the cessation of any practice . ### without prejudice to the powers of the commission under article 258 of the treaty , where a competent authority does not comply with the decision of the authority referred to in paragraph 2 within the period laid down therein , the authority shall , pursuant to the relevant requirements laid down in the legislation referred to in article 1 , adopt an individual decision addressed to a financial market participant requiring the necessary action to comply with its obligations under that legislation , including the cessation of any practice .


### if , at the end of the conciliation phase , the competent authorities concerned have failed to reach an agreement , the authority may take a decision requiring them to take specific action or to refrain from action in order to settle the matter , in compliance with community law . ### if , at the end of the conciliation phase , the competent authorities concerned have failed to reach an agreement , the authority shall in accordance with the procedure set out in the second subparagraph of article 29 take a decision to settle the disagreement and to require them to take specific action , in compliance with union law with binding effects on the competent authorities concerned .


### the securities and markets stakeholder group shall be composed of 30 members , representing in balanced proportions community financial market participants , their employees as well as consumers , investors and users of financial services . ### the securities and markets stakeholder group shall be composed of 30 members , representing in balanced proportions union financial market participants and users of financial services . not less than 5 of the members shall be independent top - ranking academics .


### without prejudice to the powers of the commission under article 226 of the treaty , where a competent authority does not comply with the decision of the authority , and thereby fails to ensure that a financial market participant complies with requirements directly applicable to it by virtue of the legislation referred to in article 1 , the authority may adopt an individual decision addressed to a financial market participant requiring the necessary action to comply with its obligations under community law , including the cessation of any practice . ### without prejudice to the powers of the commission under article 258 of the treaty , where a competent authority does not comply with the decision of the authority , and thereby fails to ensure that a financial market participant complies with requirements directly applicable to it by virtue of the legislation referred to in article 1 , the authority shall adopt an individual decision addressed to a financial market participant requiring the necessary action to comply with its obligations under union law , including the cessation of any practice .


### without prejudice to the competences of the community institutions , the authority may develop contacts with supervisory authorities from third countries . it may enter into administrative arrangements with international organisations and the administrations of third countries . ### the authority shall develop contacts with supervisory authorities from third countries . it may enter into administrative arrangements with international organisations and the administrations of third countries .


### where the commission has adopted a decision pursuant to paragraph 1 , the authority may adopt individual decisions requiring competent authorities to take the necessary action in accordance with the legislation referred to in article 1 to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation . ### where the existence of an emergency situation is declared pursuant to paragraph 1 , the authority shall adopt individual decisions necessary to ensure that competent authorities to take the necessary action in accordance with the legislation referred to in article 1 to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation .


### within three months of receipt of the draft standards , the commission shall decide whether to endorse the draft standards . the commission may extend that period by one month . the commission may endorse the draft standards only in part or with amendments where the community interest so requires . ### within three months of receipt of the draft standards , the commission shall decide whether to endorse , reject or amend the draft standards . the commission may extend that period by one month . the commission shall inform the european parliament and the council of its decision , stating the reasons .


### contribute to a consistent application of community legislation , in particular by contributing to a common supervisory culture , ensuring consistent , efficient and effective application of the legislation referred to in article 1 , preventing regulatory arbitrage , mediating and settling disagreements between competent authorities , promoting a coherent functioning of colleges of supervisors and taking actions in emergency situations ; ### contribute to a consistent application of union law , in particular by contributing to a common supervisory culture , ensuring consistent , efficient and effective application of the legislation referred to in article 1 , preventing regulatory arbitrage , mediating and settling disagreements between competent authorities , ensuring a coherent functioning of colleges of supervisors and taking actions , inter alia , in emergency situations ;


### the european system of financial supervisors should be a network of national and community supervisory authorities , leaving day - to - day supervision of financial market participant at the national level , and according a central role in the supervision of cross - border groups to colleges of supervisors . greater harmonisation and the coherent application of rules for financial market participants and markets across the community should also be achieved . a european securities and markets authority should be established , along with a european insurance and occupational pensions authority and a european banking authority . ### the european system of financial supervisors should be a network of national and union supervisory authorities , leaving day - to - day supervision of financial market participant that are not significant cross - border financial market participants at the national level . greater harmonisation and the coherent application of rules for financial market participants and markets across the union should also be achieved . a european supervisory authority should be established , along with a european supervisory authority and a european supervisory authority as well as a european supervisory authority .


### without prejudice to the powers laid down in article 9 , where a competent authority disagrees on the procedure or content of an action or inaction by another competent authority in areas where the legislation referred to in article 1 requires cooperation , coordination or joint decision making by competent authorities from more than one member state , the authority , at the request of one or more of the competent authorities concerned , may assist the authorities in reaching an agreement in accordance with the procedure set out in paragraph 2 . ### without prejudice to the powers laid down in article 9 , where a competent authority disagrees on the procedure or content of an action or inaction by another competent authority in areas concerning the legislation referred to in article 1 , the authority , at the request of one or more of the competent authorities concerned , may assist the authorities in reaching an agreement in accordance with the procedure set out in paragraph 2 .


### the authority shall participate as an observer in colleges of supervisors as it deems appropriate . for the purpose of that participation , it shall be considered a ' competent authority ' within the meaning of the relevant legislation and , at its request , shall receive all relevant information shared with any member of the college . ### the authority shall participate in colleges of supervisors as it deems appropriate . for the purpose of that participation , it shall be considered a ' competent authority ' within the meaning of the relevant legislation and , at its request , shall receive all relevant information shared with any member of the college .


### in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the community , the commission , upon its own initiative or following a request by the authority , the council , or the esrb , may adopt a decision addressed to the authority , determining the existence of an emergency situation for the purposes of this regulation . ### in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the union , the esrb , upon its own initiative or following a request by the authority , the council , the european parliament or the commission , may issue a warning declaring the existence of an emergency situation in order to enable the authority without further requirements to adopt the individual decisions referred to in paragraph 3 .


### in its notification , the member state shall justify why and clearly demonstrate how the decision impinges on its fiscal responsibilities . ### in its notification , the member state shall justify why and provide an impact assessment on how much the decision impinges on its fiscal responsibilities .


### where appropriate , the authority should consult interested parties on technical standards , guidelines and recommendations and provide them with a reasonable opportunity to comment on proposed measures . for reasons of efficiency , a securities and markets stakeholder group should be established for that purpose , representing in balanced proportions community financial market participants , their employees , and consumers and other retail users of financial services , including smes . the securities and markets stakeholder group should actively work as an interface with other user groups in the financial services area established by the commission or community legislation . ### the authority should consult interested parties on technical standards , guidelines and recommendations and provide them with a reasonable opportunity to comment on proposed measures . before adopting draft technical standards , guidelines and recommendations the authority should carry out an impact study . for reasons of efficiency , a securities and markets stakeholder group should be established for that purpose , representing in balanced proportions union financial market participants , their employees , academia and consumers and other retail users of financial services , including smes . the securities and markets stakeholder group should actively work as an interface with other user groups in the financial services area established by the commission or by eu legislation .


### where the commission has adopted a decision pursuant to paragraph 1 , the authority may adopt individual decisions requiring competent authorities to take the necessary action in accordance with the legislation referred to in article 1 to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation . ### where the esrb has adopted a decision pursuant to paragraph 1 , the authority may adopt individual decisions requiring competent authorities to take the necessary action in accordance with this regulation and the legislation referred to in article 1 to address any risks that may jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system by ensuring that financial market participants and competent authorities satisfy the requirements laid down in that legislation .


### the commission shall ensure that the right to be heard of the addressees of the decision is respected . ### the authority shall ensure that the right to be heard of the addressees of the decision is respected .


### without prejudice to the powers of the commission under article 226 of the treaty , where a competent authority does not comply with the decision referred to in paragraph 4 of this article within the period of time specified therein , and where it is necessary to remedy in a timely manner the non compliance by the competent authority in order to maintain or restore neutral conditions of competition in the market or ensure the orderly functioning and integrity of the financial system , the authority may , where the relevant requirements of the legislation referred to in article 1 are directly applicable to financial market participants , adopt an individual decision addressed to a financial market participant requiring the necessary action to comply with its obligations under community law including the cessation of any practice . ### without prejudice to the powers of the commission under article 258 of the treaty , where a competent authority does not comply with the decision referred to in paragraph 4 of this article within the period of time specified therein , and where it is necessary to remedy in a timely manner the non compliance by the competent authority in order to maintain or restore neutral conditions of competition in the market or ensure the orderly functioning and integrity of the financial system , the authority shall , pursuant to the legislation referred to in article 1 , , adopt an individual decision addressed to a financial market participant requiring the necessary action to comply with its obligations under union law including the cessation of any practice .


### the authority should actively promote a coordinated community supervisory response , in particular where adverse developments could potentially jeopardise the orderly functioning and integrity of financial markets or the stability of the financial system in the community . in addition to its powers for action in emergency situations , it should therefore be entrusted with a general coordination function within the european system of financial supervisors . the smooth flow of all relevant information between competent authorities should be a particular focus of the authority ' s actions . ### the authority should actively promote a coordinated union supervisory response , in particular to ensure the orderly functioning and integrity of financial markets or the stability of the financial system in the union . in addition to its powers for action in emergency situations , it should therefore be entrusted with a general coordination function . the smooth flow of all relevant information between competent authorities should be a particular focus of the authority ' s actions .


### serious threats to the orderly functioning and integrity of financial markets or the stability of the financial system in the community require a swift and concerted response at community level . the authority should therefore be able to require national supervisory authorities to take specific actions to remedy an emergency situation . as the determination of an emergency situation involves a significant degree of discretion , this power should be conferred on the commission . to ensure an effective response to the emergency situation , in the event of inaction by the competent national supervisory authorities , the authority should be empowered to adopt , as a last resort , decisions directly addressed to financial market participants in areas of community law directly applicable to them aimed at mitigating the effects of the crisis and restoring confidence in the markets . ### serious threats to the orderly functioning and integrity of financial markets or the stability of the financial system in the union require a swift and concerted response at union level . the authority should therefore be able to require national supervisory authorities to take specific actions to remedy an emergency situation . the european systemic risk board should establish when there is an emergency situation . as the determination of an emergency situation involves a significant degree of discretion , this power should be conferred on the commission . to ensure an effective response to the emergency situation , in the event of inaction by the competent national supervisory authorities , the authority should be empowered to adopt , as a last resort , decisions directly addressed to financial market participants in areas of union law directly applicable to them aimed at mitigating the effects of the crisis and restoring confidence in the markets .


### technical standards ### technical standards – delegated acts


### where the authority maintains its decision , the council , acting by qualified majority as defined in article 205 of the treaty , shall , within two months , decide whether the authority ' s decision is maintained or revoked . ### where the authority maintains its decision , the council shall take a decision whether the authority ' s decision is maintained or revoked on the basis of a qualified majority of its members , as defined in article 16 of the treaty on european union and in article 3 of the protocol no 36 on transitional provisions annexed to the treaty on european union and to the treaty on the functioning of the european union , at one of its meetings at the latest two months after the authority has informed the member state as set out in the previous subparagraph .


### in order to ensure cross - sectoral consistency in the activities of the european supervisory authorities , those authorities should coordinate closely in a joint committee of european supervisory authorities and reach common positions where appropriate . the joint committee of european supervisory authorities should assume all of the functions of the joint committee on financial conglomerates . where relevant , acts also falling within the area of competence of the european insurance and occupational pensions authority or the european banking authority should be adopted in parallel by the european supervisory authorities concerned . ### in order to ensure cross - sectoral consistency in the activities of the european supervisory authorities , those authorities should coordinate closely through the european supervisory authorities joint committee and reach common positions where appropriate . the joint committee should coordinate the functions of the three european supervisory authorities in relation to financial conglomerates . where relevant , acts also falling within the area of competence of the european supervisory authority or the european supervisory authority should be adopted in parallel by the european supervisory authorities concerned . the joint committee should be chaired for a 12 - month term on a rotating basis by the chairpersons of the three european supervisory authorities . the chairperson of the joint committee should be a vice - chair of the esrb . the joint committee should have a permanent secretariat , staffed on secondment from the three european supervisory authorities , to allow for informal information - sharing and the development of a common cultural approach across the three european supervisory authorities .


### if , at the end of the conciliation phase , the competent authorities concerned have failed to reach an agreement , the authority may take a decision requiring them to take specific action or to refrain from action in order to settle the matter , in compliance with community law . ### if , at the end of the conciliation phase , the competent authorities concerned have failed to reach an agreement , the authority shall in accordance with the procedure set out in the second subparagraph of article 29 take a decision to settle the disagreement and to require them to take specific action , in compliance with union law with binding effects on the competent authorities concerned .


### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by community law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should endorse those draft technical standards in accordance with community law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with community law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of community financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement . ### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by union law , with the elaboration of draft technical standards , which do not involve policy choices . these standards should thus not be in conflict with the legislation of any member state since such legislation suggests existence of a policy choice . the commission should endorse those draft technical standards in accordance with union law in order to give them binding legal effect . the draft technical standards have to be adopted or rejected by the commission according to clear and transparent principles . they would be rejected if , for example , the draft technical standards were incompatible with union law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of union financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement .


### the board of supervisors shall act on the basis of qualified majority of its members , as defined in article 205 of the treaty , for acts specified in articles 7 , 8 and all measures and decisions adopted under chapter vi . ### decisions of the board of supervisors shall be taken by simple majority of its members , according to the principle where each member has one vote .


### in areas not covered by technical standards , the authority should have the power to issue non - binding guidelines and recommendations on the application of community legislation . in order to ensure transparency and strengthen compliance by national supervisory authorities with those guidelines and recommendations , national authorities should be obliged to state their reasons where they do not comply with those guidelines and recommendations . ### in areas not covered by technical standards , the authority should have the power to issue guidelines and recommendations on the application of eu legislation . in order to ensure transparency and strengthen compliance by national supervisory authorities with those guidelines and recommendations , national authorities should be obliged to state their reasons where they do not comply with those guidelines and recommendations publicly in order to be fully transparent with market participants . in areas not covered by technical standards , the authority should establish and promulgate best practices .


### the decision of the authority shall be in conformity with the decision adopted by the commission pursuant to paragraph 4 . ### the decision of the authority shall be in conformity with the decision adopted pursuant to paragraph 4 .


### the authority shall contribute to promote the efficient and consistent functioning of colleges of supervisors and foster the coherence of the application of community legislation across colleges . ### the system of colleges of supervisors may apply to key financial market participants , in the conditions defined by union law . where applicable , the authority shall contribute to promote the efficient and consistent functioning of colleges of supervisors and control the coherence of the application of union legislation across colleges .


### in areas not covered by technical standards , the authority should have the power to issue non - binding guidelines and recommendations on the application of community legislation . in order to ensure transparency and strengthen compliance by national supervisory authorities with those guidelines and recommendations , national authorities should be obliged to state their reasons where they do not comply with those guidelines and recommendations . ### in areas not covered by technical standards , the authority should have the power to issue guidelines and recommendations on the application of union legislation . in order to ensure transparency and strengthen compliance by national supervisory authorities with those guidelines and recommendations , national authorities should be obliged to state their reasons where they do not comply with those guidelines and recommendations publicly in order to be fully transparent with market participants . in areas not covered by technical standards , the authority should establish and promulgate best practices .


### the european system of financial supervisors should be a network of national and community supervisory authorities , leaving day - to - day supervision of financial market participant at the national level , and according a central role in the supervision of cross - border groups to colleges of supervisors . greater harmonisation and the coherent application of rules for financial market participants and markets across the community should also be achieved . a european securities and markets authority should be established , along with a european insurance and occupational pensions authority and a european banking authority . ### the european system of financial supervisors should be a network of national and union supervisory authorities , leaving day - to - day supervision of financial market participant that are not significant cross - border financial market participants at the national level . greater harmonisation and the coherent application of rules for financial market participants and markets across the union should also be achieved . a european supervisory authority should be established , along with a european supervisory authority and a european supervisory authority as well as a european supervisory authority .


### the european parliament may invite the chairperson or his or her alternate , while fully respecting his or her independence , to make a statement regularly before its competent committee and answer questions put by members of that committee . ### the chairperson shall make a statement before the european parliament and answer any questions put by its members .


### before submitting them to the commission , the authority shall , where appropriate , conduct open public consultations on technical standards and analyse the potential related costs and benefits . ### the authority shall conduct open public consultations on technical standards and analyse the potential related costs and benefits before adopting draft technical standards . the authority shall also request an opinion or advice of the banking stakeholder group referred to in article 22 .


### contribute to the establishment of high quality common regulatory and supervisory standards and practices , in particular by providing opinions to the community institutions and by developing guidelines , recommendations , and draft technical standards which shall be based on the legislation referred to in article 1 ; ### contribute to a consistent application of union law , in particular by contributing to a common supervisory culture , ensuring consistent , efficient , and effective application of the legislation referred to in article 1 , preventing regulatory arbitrage , mediating and settling disagreements between competent authorities , ensuring a coherent functioning of colleges of supervisors and taking actions , inter alia , in emergency situations ;


### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection of investors and consumers across europe . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by community law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should endorse those draft technical standards in accordance with community law in order to give them binding legal effect . the draft technical standards have to be adopted by the commission . they would be subject to amendment if , for example , the draft technical standards were incompatible with community law , would not respect the principle of proportionality or would run counter to the fundamental principles of the internal market for financial services as reflected in the acquis of community financial services legislation . to ensure a smooth and expedited adoption process for those standards , the commission should be subject to a time limit for its decision on the endorsement . ### there is a need to introduce an effective instrument to establish harmonised technical standards in financial services to ensure , also through a single rulebook , a level playing field and an adequate protection of investors and consumers across the union . as a body with highly specialised expertise , it is efficient and appropriate to entrust the authority , in areas defined by union law , with the elaboration of draft technical standards , which do not involve policy choices . the commission should be empowered to adopt delegated acts in accordance with the procedure referred to in article 290 of the treaty on the functioning of the european union concerning technical standards in financial services .


### in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets or the stability of the whole or part of the financial system in the community , the commission , upon its own initiative or following a request by the authority , the council , or the esrb , may adopt a decision addressed to the authority , determining the existence of an emergency situation for the purposes of this regulation . ### in the case of adverse developments which may seriously jeopardise the orderly functioning and integrity of financial markets , investor protection or the stability of the whole or part of the financial system in the union , the esrb , upon its own initiative or following a request by the authority , the european parliament , the council or the commission , may issue a warning declaring the existence of an emergency situation for the purposes of this regulation , in order to enable the authority without further requirements to adopt the individual decisions referred to in paragraph 3 .