in force 2021-04-09 MODIFIED+381 −23§
Amended by Regulation (EU) 2021/557 32021R0557
applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)
dates added to the text: 2021-04-08, 2021-10-10 · dates removed: 2019-01-18
The deadline by which Member States must inform the Commission and ESMA of the designation of competent authorities under paragraph 5 is changed from 18 January 2019 to 10 October 2021.
A new sentence is added to paragraph 5 providing that, until a competent authority is designated to supervise compliance with Articles 26a to 26e, the competent authority already designated to supervise compliance with Articles 18 to 27 as applicable at 8 April 2021 is also to supervise compliance with Articles 26a to 26e.
Cited: Art. 29, v2
text before / after
32017R2402 → 02017R2402-20210409
Article 29
Designation of competent authorities
1. Compliance with the obligations set out in Article 5 of this Regulation shall be supervised by the following competent authorities in accordance with the powers granted by the relevant legal acts:
(a) for insurance and reinsurance … 366 unchanged words … primary purpose of securitising them on a regular basis.
5. Member States shall designate one or more competent authorities to supervise the compliance of originators, sponsors and SSPEs with Articles 18 to 27, and the compliance of third parties with Article 28. Member 28.Member States shall inform the Commission and ESMA of the designation of competent authorities pursuant to this paragraph by 10 October 2021. Until the designation of a competent authority to supervise the compliance with the requirements set out in Articles 26a to 26e, the competent authority designated to supervise the compliance with the requirements set out in Articles 18 January 2019. to 27 applicable at 8 April 2021 shall also supervise the compliance with the requirements set out in Articles 26a to 26e.
6. Paragraph 5 of this Article shall not apply with regard to those entities that are merely selling exposures under an ABCP programme or other securitisation transaction or scheme and are not actively originating exposures for the primary purpose of securitising them on a regular basis. In such a case, the originator or sponsor shall verify that those entities fulfil the relevant obligations set out in Articles 18 to 27.
7. ESMA shall ensure the consistent application and enforcement of the obligations set out in Articles 18 to 27 of this Regulation in accordance with the tasks and powers set out in Regulation (EU) No 1095/2010. ESMA shall monitor the Union securitisation market in accordance with Article 39 of Regulation (EU) No 600/2014 of the European Parliament and the CouncilRegulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ L 173, 12.6.2014, p. 84). and apply, where appropriate, its temporary intervention powers in accordance with Article 40 of Regulation (EU) No 600/2014.
8. ESMA shall publish and keep up-to-date on its website a list of the competent authorities referred to in this Article.