Decision (EU) 2015/2218 of the European Central BankShow full title

Article 9 Assessment by the ECB

1. On the basis of notifications filed pursuant to Article 4(4) and applications submitted for prior approval pursuant to Article 4(5) of Delegated Regulation (EU) No 604/2014, the ECB shall assess:

(a) the completeness of the documentation;

(b) the basis on which the supervised credit institution has determined that the staff member concerned, or the category of staff to which the staff member belongs, meets one of the conditions laid down in Article 4(2) of Delegated Regulation (EU) No 604/2014;

(c) whether the staff member, or the category of staff to which the staff member belongs, has no material impact on the risk profile of a material business unit through the professional activities carried out by verifying:

(i)

whether the supervised credit institution has applied objective criteria, which take into account all relevant risk and performance indicators that it otherwise uses to identify, manage and monitor risks in accordance with Article 74 of Directive 2013/36/EU;

(ii)

whether the supervised credit institution has compared the duties and authorities of the staff member, or category of staff to which the staff member belongs, and their impact on the supervised credit institution's risk profile with the impact of the professional activities of staff members identified by the qualitative criteria set out in Article 3 of Delegated Regulation (EU) No 604/2014;

(d) with regard to the applications for prior approval for staff members awarded a total remuneration of EUR 1 000 000 or more, whether exceptional circumstances apply. In such cases the ECB shall inform the European Banking Authority of the results of the initial assessment prior to taking any decision.

2. In the event of an application submitted for prior approval pursuant to Article 4(5) of Delegated Regulation (EU) No 604/2014, the ECB shall issue a decision within 3 months of receipt of the complete documentation.

3. In the event of a notification pursuant to Article 4(4) of Delegated Regulation (EU) No 604/2014, where the assessment indicates that the requirements laid down in this Decision and in Article 4(2) of Delegated Regulation (EU) No 604/2014 are not met, the ECB shall notify the supervised credit institution thereof within 3 months of receipt of the complete documentation. The supervised credit institution shall not apply Article 4(2) of Delegated Regulation (EU) No 604/2014. In the absence of a notification by the ECB according to the first sentence of this paragraph, the supervised credit institution shall be considered to be compliant with Article 4(2) of Delegated Regulation (EU) No 604/2014 and the requirements referred to therein.