TITLE V

PRUDENTIAL SUPERVISION
CHAPTER 1

General rules on prudential supervision

Transparency and accountability
Article 51
1
Member States shall ensure that the competent authorities conduct the tasks laid down in this Directive in a transparent, independent and accountable manner with due respect for the protection of confidential information.
2
Member States shall ensure that the following information is publicly disclosed:
a
the texts of laws, regulations, administrative rules and general guidance in the field of occupational pension schemes, and information about whether the Member State chooses to apply this Directive in accordance with Articles 4 and 5;
b
information regarding the supervisory review process as set out in Article 49;
c
aggregate statistical data on key aspects of the application of the prudential framework;
d
the main objective of prudential supervision and information on the main functions and activities of the competent authorities;
e
the rules on administrative sanctions and other measures applicable to breaches of national provisions adopted pursuant to this Directive.
3
Member States shall ensure that they have in place and apply transparent procedures regarding the appointment and dismissal of the members of the governing and managing bodies of their competent authorities.