in force 2019-12-30 MODIFIED+200 −250§
Amended by Regulation (EU) 2019/2176 32019R2176
applies from: unchanged
Paragraph 1 now identifies the recipients of a recommendation by reference to the list of addressees in Article 16(2), rather than separately naming the Commission, Member States, ESAs and national supervisory authorities, and it adds the European Parliament as a recipient of the addressee's communication on actions taken, alongside the Council, the Commission and the ESRB.
Paragraph 1 also changes the addressee's obligation from providing adequate justification for inaction to substantiating any inaction.
Paragraph 2 changes who the ESRB must inform when a recommendation has not been followed, adding the European Parliament and referring to the relevant ESAs rather than the European Supervisory Authority concerned.
Cited: Art. 17, v1 · Art. 17, v2
text before / after
32010R1092 → 02010R1092-20191230
Article 17
Follow-up of the ESRB recommendations
1. If a recommendation referred to in point (d) of Article 3(2)(d) 3(2) is addressed to the Commission, to one or more Member States, to one or more ESAs, or to one or more national supervisory authorities, of the addressees listed in Article 16(2), the addressee shall communicate to the ESRB European Parliament, the Council, the Commission and to the Council ESRB the actions undertaken in response to the recommendation and shall provide adequate justification for substantiate any inaction. Where relevant, the ESRB shall, subject to strict rules of confidentiality, inform the ESAs without delay of the answers received. received without delay.
2. If the ESRB decides that its recommendation has not been followed or that the addressees have failed to provide adequate justification for their inaction, it the ESRB shall, subject to strict rules of confidentiality, inform the addressees, the European Parliament, the Council and, where relevant, and the European Supervisory Authority concerned. relevant ESAs thereof.
3. If the ESRB has made a decision under paragraph 2 on a recommendation that has been made public following the procedure set out in Article 18(1), the European Parliament may invite the Chair of the ESRB to present that decision and the addressees may request to participate in an exchange of views.