Commission Delegated Regulation (EU) 2017/392Show full title

Article 13 U.K. Senior management, management body and shareholders

1. An application for authorisation shall include, for each member of the senior management and each member of the management body of the applicant CSD, the following information to enable the competent authority to assess compliance of the applicant CSD with Article 27(1) and (4) of Regulation (EU) No 909/2014:

(a) a copy of a curriculum vitae which sets out the experience and knowledge of each member;

(b) details regarding any criminal and administrative sanctions imposed on a member in connection with the provision of financial or data services or in relation to acts of fraud or misappropriation of funds, in the form of an appropriate official certificate where available in the relevant Member State;

(c) a self-declaration of good repute in relation to the provision of financial or data services, where all members of the senior management and management body shall state whether they have been subject to any of the following:

(i)

they have been convicted of any criminal or administrative offence in connection with the provision of financial or data services or in relation to acts of fraud or misappropriation of funds;

(ii)

they have been subject to an adverse decision in any proceedings of a disciplinary nature brought by a regulatory authority, a government body or agency or they are subject to any ongoing proceedings;

(iii)

they have been subject to an adverse judicial finding in civil proceedings before a court in connection with the provision of financial or data services, or fraud in the management of a business;

(iv)

they have been members of the management body or senior management of an undertaking whose registration or authorisation was withdrawn by a regulatory body while connected to the undertaking at least one year before the date of withdrawal of authorisation or registration;

(v)

they have been refused the right to carry on any type of activities which require registration or authorisation by a regulatory body;

(vi)

they have been members of the management body or of senior management of an undertaking against whom insolvency proceedings have been opened at least one year before proceedings have been opened;

(vii)

they have been members of the management body or the senior management of an undertaking that was subject to a sanction by a regulatory body while they were connected to the undertaking at least one year before such a sanction was imposed;

(viii)

they have been otherwise fined, suspended, disqualified or subject to any other sanction in connection with the provision of financial or data services by a government, regulatory or professional body;

(ix)

they have been disqualified from acting as a director or in any other managerial capacity, dismissed from employment or other appointment in an undertaking as a result of misconduct or malpractice.

For the purposes of point (c)(i) of this paragraph, the self-declaration shall not be required where an official certificate is submitted under point (b) of this paragraph.

2. The application for authorisation shall include the following information regarding the management body of the applicant CSD:

(a) evidence of compliance with Article 27(2) of Regulation (EU) No 909/2014;

(b) a description of the roles and responsibilities of the members of the management body;

(c) the target for the representation of the underrepresented gender in the management body, the relevant policy on how to meet that target and the method used by the applicant CSD to make public the target, policy and its implementation.

3. The application for authorisation shall include the following information concerning the ownership structure and shareholders of the applicant CSD:

(a) a description of the ownership structure of the applicant CSD referred to in point (i) of Article 4(2), including a description of the identity and size of interests of any entity in a position to exercise control over the operation of the applicant CSD;

(b) a list of the shareholders and persons who are in a position to exercise, directly or indirectly, control over the management of the applicant CSD.