Commission Delegated Regulation (EU) 2021/1722 of 18 June 2021

supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards specifying the framework for cooperation and the exchange of information between competent authorities of the home and the host Member States in the context of supervision of payment institutions and electronic money institutions exercising cross-border provision of payment services (Text with EEA relevance)

Full documentArticle 8 of 12 · 6 annexes

In this act Article 8 of 12

Article 8 — Notification in the event of an infringement or suspected infringement

Financial servicesLevel 2RTSPSD2In forceVerifiedOfficial source

8(1)

1.The competent authorities of the home and host Member States, on becoming aware of any infringements or suspected infringements by an agent or a branch of a payment institution, or such infringements occurring in the exercise of the freedom to provide services, shall notify each other immediately in accordance with Article 4.

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8(2)

2.The notifying competent authority shall provide the notified competent authority with all the indispensable information in relation to the infringements or suspected infringements as referred to in paragraph 1, which shall include:

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8(2)(a)

(a)the type of infringement;

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8(2)(b)

(b)any actions undertaken by the competent authority such as precautionary measures issued against the payment institution, sanctions or withdrawals of authorisation.

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The notifying competent authority may provide the notified competent authority with any other information that it considers to be pertinent for the notified competent authority.

8(3)

3.The notified competent authority may request from the notifying competent authority any other information that it considers to be pertinent for deciding on the appropriate course of action.

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8(4)

4.The competent authorities shall notify each other in this regard by completing the form in Annex IV. The notifying authority may attach to the communication any document or other supporting material deemed pertinent.

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8(5)

5.If the notifying competent authority believes the information should be sent urgently, it may initially notify the other competent authority orally, provided that subsequently the information is transmitted in writing by electronic means, unless the competent authorities agree otherwise.

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