ecoDa's response to EBA/ESMA consultation on the Guidelines on the assessment of the suitability of members of the management body and key function holders of credit institutions

25.01.2017

ecoDa has just responded the EBA/ESMA consultation on the Guidelines on the assessment of the suitability of members of the management body and key function holders of credit institutions. The draft Guidelines aim at further improving and harmonising suitability assessments within the EU financial sectors and so ensure sound governance arrangements in financial institutions.

ecoDa stresses the fact that the individual ‘fit and proper’ dossier obliged for each nomination has to be developed by the board. Judging ‘the fit’ of an individual board member should be done in light of the composition of the global board.