# Commission Implementing Regulation (EU) No 926/2014Show full title

Commission Implementing Regulation (EU) No 926/2014 of 27 August 2014 laying down implementing technical standards with regard            to standard forms, templates and procedures for notifications relating to the exercise of the right of establishment and the            freedom to provide services according to Directive 2013/36/EU of the European Parliament and of the Council (Text with EEA            relevance)         

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U.K.

# Commission Implementing Regulation (EU) No 926/2014                     

# of 27 August 2014

# laying down implementing technical standards with regard to standard forms, templates and procedures for notifications relating                        to the exercise of the right of establishment and the freedom to provide services according to Directive 2013/36/EU of the                        European Parliament and of the Council                     

# (Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity                           of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC                           and repealing Directives 2006/48/EC and 2006/49/EC(1), and in particular Article 35(6), Article 36(6) and Article 39(5) thereof,                        

Whereas:

(1)For the purposes of having standard forms, templates and procedures for the notifications to exercise the right of establishment                              and the freedom to provide services, it is necessary to define some technical terms in order to make a clear distinction between                              the branch notifications, services notifications, notifications resulting from changes in the particulars of branch notifications                              and those related to a planned termination of a branch's operation.

(2)The establishment of standard procedures covering the language and means of communication of passport notifications from credit                              institutions to competent authorities of home and host Member States facilitates the exercise of the right of establishment                              and the freedom to provide services and the efficiency of the performance of the respective tasks and responsibilities of                              the competent authorities of home and host Member States.

(3)Technical standards should require competent authorities of home Member States to assess the accuracy and completeness of                              the submitted passport notifications so as to clarify the respective responsibilities of the competent authorities of home                              and host Member States and ensure the quality of the passport notifications submitted by credit institutions.

(4)Competent authorities of home Member States should indicate to the credit institutions the particular aspects in which passport                              notifications are assessed to be incomplete or incorrect to facilitate the process of identification, communication and submission                              of the missing or incorrect elements.

(5)In order to ensure transparency and timely assessment of submitted passport notifications it is necessary to determine without                              ambiguity the commencement of the three-month period referred to in Article 35(3) of Directive 2013/36/EU so that the competent                              authorities of home Member States should make a decision on the adequacy of the administrative structure and the financial                              situation of the credit institution and communicate the passport notification to the competent authority of host Member States.                              It is also necessary to determine without ambiguity the commencement of the periods referred to in Article 36(3) and Article                              39(2) of Directive 2013/36/EU given to competent authorities of home and host Member States to make their respective decisions                              and to communicate the relevant information to each other or to credit institutions.

(6)Acknowledgement of receipt of the transmitted branch passport notifications by competent authorities of host Member States                              is necessary to clarify the date of receipt of the relevant notification, the time period available to competent authorities                              of host Member States to be prepared for supervising credit institutions and indicate to them any conditions under which,                              in the interests of the general good, their activities may have to be carried out and the exact date on which the credit institutions                              will be in a position to establish their branches and commence their activities in the territory of the host Member State.

(7)In order to ensure transparency in the conditions under which, in the interest of the general good, activities may have to                              be carried out in host Member States, competent authorities of host Member States should inform competent authorities of home                              Member States of those conditions which impose restrictions on the activities carried out by branches of credit institutions                              in the territory of host Member States.

(8)The procedures for change in branch particulars notification should also cover the specific case of a planned termination                              of the operation of the branch as this is considered a major change in branch's operations which needs to be notified to competent                              authorities of home and host Member States.

(9)The provisions in this Regulation are closely linked, since they deal with notifications related to the exercise of the right                              of establishment and the freedom to provide services. To ensure coherence between those provisions, which should enter into                              force at the same time, and to facilitate a comprehensive view and compact access to them by persons subject to those obligations,                              it is desirable to include certain regulatory technical standards required by Directive 2013/36/EU in a single Regulation.

(10)This Regulation is based on the draft implementing technical standards submitted by the European Supervisory Authority (European                              Banking Authority) (EBA) to the Commission.

(11)EBA has conducted open public consultations on the draft implementing technical standards on which this Regulation is based,                              analysed the potential related costs and benefits and requested the opinion of the Banking Stakeholder Group established in                              accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council(2),

HAS ADOPTED THIS REGULATION:

## CHAPTER IU.K.**GENERAL PROVISIONS**

### Article 1U.K.Subject matter

This Regulation lays down the standard forms, templates and procedures for the notifications to exercise the right of establishment                     and the freedom to provide services pursuant to Article 35(6), Article 36(6) and Article 39(5) of Directive 2013/36/EU.                  

### Article 2U.K.Definitions

For the purposes of this Regulation, the following definitions shall apply:

‘branch passport notification’ means a notification made in accordance with Article 35(1) of Directive 2013/36/EU by a credit                              institution wishing to establish a branch within the territory of another Member State to the competent authorities of its                              home Member State;                           

‘change in branch particulars notification’ means a notification made in accordance with Article 36(3) of Directive 2013/36/EU                              by a credit institution to the competent authorities of the home and host Member States of a change in the particulars communicated                              pursuant to Article 35(2)(b), (c) or (d) of that Directive;                           

‘services passport notification’ means a notification made in accordance with Article 39(1) of Directive 2013/36/EU by a credit                              institution wishing to exercise the freedom to provide services by carrying out its activities within the territory of another                              Member State for the first time to the competent authorities of its home Member State;                           

‘passport notifications’ means a branch passport notification, a change in branch particulars notification or a services passport                              notification.                           

### Article 3U.K.General requirements for passport notifications

1.Passport notifications submitted under this Regulation shall comply with the following requirements:                  

(a)they shall be in writing in a language accepted by the competent authorities of the home Member State and in a language accepted                        by the competent authorities of the host Member State, or in any Union language accepted by both the competent authorities                        of the home and host Member States;                  

(b)they shall be transmitted by post, or by electronic means where these are accepted by the relevant competent authorities.                  

2.The competent authorities shall make the following information publicly available:                  

(a)the languages accepted in accordance with paragraph 1(a);                  

(b)the address to which passport notifications are to be sent where submitted by post;                  

(c)any electronic means by which passport notifications may be submitted and any relevant contact details.                  

## CHAPTER IIU.K.**PROCEDURES FOR BRANCH PASSPORT NOTIFICATION**

### Article 4U.K.Submission of the branch passport notification

Credit institutions shall use the form laid down in Annex I to submit a branch passport notification to the competent authorities                     of the home Member State.                  

### Article 5U.K.Assessment of completeness and accuracy of the branch passport notification

1.On receipt of a branch passport notification the competent authorities of the home Member State shall assess the completeness                        and accuracy of the information provided.                  

2.Competent authorities of the home Member State shall treat the three-month period referred to in Article 35(3) of Directive                        2013/36/EU as having commenced on the date of receipt of the branch passport notification containing information that is assessed                        to be complete and correct.                  

3.Where the information provided in the branch passport notification is assessed to be incomplete or incorrect, the competent                        authorities of the home Member State shall inform the credit institution without delay, indicating in which respect the information                        is assessed to be incomplete or incorrect.                  

### Article 6U.K.Communication of the branch passport notification

1.The competent authorities of the home Member State shall use the form laid down in Annex II to communicate a branch passport                        notification to the competent authorities of the host Member State together with a copy of the branch passport notification                        and with the latest available information on own funds using the form laid down in Annex III.                  

2.The competent authorities of the host Member State shall acknowledge receipt of the branch passport notification to the competent                        authorities of the home Member State without delay, stating the date on which the branch passport notification was received.                  

3.Following the acknowledgement of receipt from the competent authorities of the host Member State, the competent authorities                        of the home Member State shall inform the credit institution without delay of the following:                  

(a)the communication of the branch passport notification to the competent authorities of the host Member State;                  

(b)the date of receipt of the branch passport notification by the competent authorities of the host Member State.                  

### Article 7U.K.Communication of conditions in the interest of the general good

1.The competent authorities of the host Member State shall communicate in writing to the credit institution any conditions referred                        to in Article 36(1) of Directive 2013/36/EU under which, in the interest of the general good, activities may have to be carried                        out in the territory of the host Member State.                  

2.Where the conditions referred to in paragraph 1 impose restrictions on the activities of the branch, the competent authorities                        of the host Member State shall also communicate those conditions in writing to the competent authorities of the home Member                        State.                  

## CHAPTER IIIU.K.**PROCEDURES FOR A CHANGE IN BRANCH PARTICULARS NOTIFICATION**

### Article 8U.K.Submission of a change in branch particulars notification

1.Credit institutions shall use the form laid down in Annex I to notify a change in branch particulars notification to the competent                        authorities of the home and host Member States except where the change concerns a planned termination of the operation of                        the branch.                  

2.Credit institutions shall use the form laid down in Annex IV to notify a change in branch particulars notification to the                        competent authorities of the home and host Member States where the change concerns a planned termination of the operation                        of the branch.                  

### Article 9U.K.Assessment of completeness and accuracy of the notification

1.On receipt of a change in branch particulars notification the competent authorities of the home Member State shall assess                        the completeness and accuracy of the information provided.                  

2.Competent authorities of the home and host Member States shall treat the one-month period referred to in Article 36(3) of                        Directive 2013/36/EU as having commenced on the date of receipt of the change in branch particulars notification containing                        information that is assessed to be complete and correct. The competent authorities of the home and host Member States shall                        cooperate in order to take the decisions referred to in Article 36(3) of Directive 2013/36/EU within the period referred to                        therein.                  

3.Where the information provided in the change in branch particulars notification is assessed to be incomplete or incorrect,                        the competent authorities of the home Member State shall inform the credit institution without delay, indicating in which                        respect the information is assessed to be incomplete or incorrect.                  

### Article 10U.K.Communication of the decisions taken following the notification

1.The competent authorities of the home Member State shall communicate their decision referred to in Article 36(3) of Directive                        2013/36/EU in writing to the credit institution and to the competent authorities of the host Member State.                  

2.The competent authorities of the host Member State shall communicate their decision referred to in Article 36(3) of Directive                        2013/36/EU in writing to the credit institution.                  

3.Where the decision referred to in paragraph 2 sets out conditions which impose restrictions on the activities of the branch,                        the competent authorities of the host Member State shall also communicate those conditions in writing to the competent authorities                        of the home Member State.                  

## CHAPTER IVU.K.**PROCEDURES FOR SERVICES PASSPORT NOTIFICATION**

### Article 11U.K.Submission of the services passport notification

Credit institutions shall use the form laid down in Annex V to submit a services passport notification to the competent authorities                     of the home Member State.                  

### Article 12U.K.Assessment of completeness and accuracy of the services passport notification

1.On receipt of a services passport notification the competent authorities of the home Member State shall assess the completeness                        and accuracy of the information provided.                  

2.Competent authorities of the home Member State shall treat the one-month period referred to in Article 39(2) of Directive                        2013/36/EU as having commenced on the date of receipt of the services passport notification containing information that is                        assessed to be complete and correct.                  

3.Where the information provided in the services passport notification is assessed to be incomplete or incorrect, the competent                        authorities of the home Member State shall inform the credit institution without delay, indicating in which respect the information                        is assessed to be incomplete or incorrect.                  

### Article 13U.K.Communication of the services passport notification

The competent authorities of the home Member State shall use the form laid down in Annex VI to communicate a services passport                     notification to the competent authorities of the host Member State.                  

## CHAPTER VU.K.**FINAL PROVISIONS**

### Article 14U.K.Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the *Official Journal of the European Union*.                  

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 27 August 2014.

*For the Commission*                            

*The President*                            

José Manuel Barroso                            

## ANNEX IU.K.Form for the submission of a branch passport notification or a change in a branch particulars notification

Where credit institutions notify changes in branch particular notifications to competent authorities of home and host Member                     States, credit institutions shall only complete the parts of the form which contain information that has changed.                  

### 1.**Contact information**U.K.

### 2.**Programme of operations**U.K.

#### 2.1.*Types of business envisaged*U.K.

##### 2.1.1.Description of the main objectives and business strategy of the branch and an explanation of how the branch will contribute                        to the strategy of the institution and, where applicable, of its groupU.K.

*[to be completed by the credit institution]*                   

##### 2.1.2.Description of the target customers and counterpartiesU.K.

*[to be completed by the credit institution]*                   

##### 2.1.3.List of the activities referred to in Annex I to Directive 2013/36/EU that the credit institution intends to carry out in                        the host Member State with the indication of the activities that will constitute the core business in the host Member State,                        including the intended start date for each core activityU.K.

##### 2.1.4.List of the services and activities that the credit institution intends to carry out in the host Member State, and which are                        provided for in Sections A and B of Annex I to Directive 2004/39/EC of the European Parliament and of the Council(3), when referring to the financial instruments provided for in Section C of Annex I of that DirectiveU.K.

#### 2.2.*Structural organisation of the branch*U.K.

##### 2.2.1.Description of the organisational structure of the branch, including functional and legal reporting lines and the position                        and role of the branch within the corporate structure of the institution and, where applicable, of its groupU.K.

*[to be completed by the credit institution]*U.K.                  

*The description can be supported by relevant documents, such as an organisational chart*                   

##### 2.2.2.Description of the governance arrangements and internal control mechanisms of the branch, including the following information:U.K.

risk management procedures of the branch and details of liquidity risk management of the institution, and where applicable,                              of its group                           

*[to be completed by the credit institution]*                            

any limits that apply to the activities of the branch, in particular to its lending activities

*[to be completed by the credit institution]*                            

details of the internal audit arrangements of the branch, including details of the person responsible for these arrangements                              and, where applicable, details of the external auditor                           

*[to be completed by the credit institution]*                            

anti-money laundering arrangements of the branch including details of the person appointed to ensure compliance with these                              arrangements                           

*[to be completed by the credit institution]*                            

controls over outsourcing and other arrangements with third parties in connection with the activities carried out in the branch                              that are covered by the institution's authorisation                           

*[to be completed by the credit institution]*                            

##### 2.2.3.Where the branch is expected to carry out one or more of the investment services and activities defined in point 2 of Article                        4(1) of Directive 2004/39/EC, a description of the following arrangements:U.K.

arrangements for safeguarding client money and assets

*[to be completed by the credit institution]*                            

arrangements for compliance with the obligations laid down in Articles 19, 21, 22, 25, 27 and 28 of Directive 2004/39/EC and                              measures adopted pursuant thereto by the relevant competent authorities of the host Member State                           

*[to be completed by the credit institution]*                            

internal code of conduct including controls over personal account dealing

*[to be completed by the credit institution]*                            

details of the person responsible for dealing with complaints in relation to the investment services and activities of the                              branch                           

*[to be completed by the credit institution]*                            

details of the person appointed to ensure compliance with the arrangements of the branch relating to investment services and                              activities                           

*[to be completed by the credit institution]*                            

##### 2.2.4.details of professional experience of the persons responsible for the management of the branchU.K.

*[to be completed by the credit institution]*                   

#### 2.3.*Other information*U.K.

##### 2.3.1.Financial plan containing forecasts for balance sheet and profit and loss account, covering a period of three yearsU.K.

*[to be completed by the credit institution]*U.K.                  

*This information can be provided as an attachment to the notification*                   

##### 2.3.2.Name and contact details of the Union deposit guarantee and investor protection schemes of which the institution is a member                        and which cover the activities and services of the branch, together with the maximum coverage of the investor protection schemeU.K.

*[to be completed by the credit institution]*                   

##### 2.3.3.Details of the branch's IT arrangementsU.K.

*[to be completed by the credit institution]*                   

## ANNEX IIU.K.Form for the communication of branch passport notification

## ANNEX IIIU.K.Form for the communication of the amount and composition of own funds and own funds requirements

### 1.**Amount and composition of own funds**U.K.

### 2.**Own fund requirements**U.K.

## ANNEX IVU.K.Form for the submission of a change in branch particulars notification which concerns a planned termination of the operation                        of a branch

## ANNEX VU.K.Form for the submission of services passport notification

### 1.**Contact information**U.K.

### 2.**List of the activities referred to in Annex I to Directive 2013/36/EU that the credit institution intends to carry out in                           the host Member State with the indication of the activities that will constitute the core business of the credit institution                           in the host Member State, including the intended commencement date for each core service activity**U.K.

### 3.**List of the services and activities that the credit institution intends to carry out in the host Member State, and which are                           provided for in Sections A and B of Annex I to Directive 2004/39/EC, when referring to the financial instruments provided                           for in Section C of Annex I of that Directive**U.K.

## ANNEX VIU.K.Form for the communication of services passport notification

1

OJ L 176, 27.6.2013, p. 338.                           

2

Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory                              Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).                           

3

Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending                              Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing                              Council Directive 93/22/EEC (OJ L 145, 30.4.2004, p. 1).