Recital 34

The Authority should also be able to settle disagreements between financial supervisors concerning the measures to be taken in relation to a non-selected obliged entity in the financial sector. In order to ensure constructive cooperation, the Authority should in the first instance attempt to resolve the disagreement through a conciliation phase with a set time limit. In the event that the conciliation phase does not achieve the desired results, the Authority should be able to adopt a binding decision requiring those supervisors to take specific action or to refrain from certain action, in order to settle the matter and to ensure compliance with Union law.