emendrix

Art. 42

European Securities and Markets Authority Regulation · 32010R1095 · every event for this act · on EUR-Lex

Independence of the Board of Supervisors

1 change recorded across 1 event, newest first.

in force 2020-01-01 MODIFIED+744 −70

Amended by Regulation (EU) 2019/2175 32019R2175

applies from: unchanged

Sources disagree — the text comparison and the EU's own amendment metadata found this change; the amending act's instructions do not mention it. All are shown; none is overruled.

The heading changes from a general reference to independence to one specifically naming the Board of Supervisors, and the text is now organized into four numbered paragraphs rather than two unnumbered ones.

The first paragraph no longer separately names the Chairperson as acting independently alongside the voting members, referring instead only to the members of the Board of Supervisors, and it drops the reference to a government of a Member State in favour of referring to any government.

Two new paragraphs are added covering a declaration-of-interest obligation before meetings for members, the Chairperson, non-voting representatives and observers, and a requirement for the Board of Supervisors to lay down practical arrangements on declaration and management of conflicts of interest in its rules of procedure.

Cited: Art. 42, v1 · Art. 42, v2

text before / after

02010R1095-2014052302010R1095-20200101

Article 42 Independence of the Board of Supervisors 1. When carrying out the tasks conferred upon it them by this Regulation, the Chairperson and the voting members of the Board of Supervisors shall act independently and objectively in the sole interest of the Union as a whole and shall neither seek nor take instructions from Union institutions or bodies, from any government of a Member State or from any other public or private body. Neither 2. Member States, the Union institutions or bodies, nor bodies and any other public or private body body, shall not seek to influence the members of the Board of Supervisors in the performance of their tasks.3. Members of the Board of Supervisors, the Chairperson as well as non-voting representatives and observers participating in the meetings of the Board of Supervisors shall, before such meetings, accurately and completely declare the absence or existence of any interest which might be considered prejudicial to their independence in relation to any items on the agenda, and shall abstain from participating in the discussion of, and voting upon, such points. 4. The Board of Supervisors shall lay down, in its rules of procedure, the practical arrangements for the rule on declaration of interest referred to in paragraph 3 and for the prevention and the management of conflict of interest.