Artikel 13 Plan mit Abhilfemaßnahmen

This article deals with the post-testing remediation obligations that follow the conclusion of a TLPT.

Building directly on Article 12, which covers the reporting phase, Article 13 sets out what financial entities must do once they have received the TLPT authority's notification regarding the test reports.

The article requires financial entities to produce and submit remediation plans, and specifies in considerable detail what those plans must contain for each finding identified during the TLPT.

Important points:

• Within 8 weeks of the notification from Article 12(7), submit remediation plans and supporting documentation to both the TLPT authority and, where applicable, the competent authority.
• Ensure each remediation plan addresses every TLPT finding and covers the identified shortcomings, proposed measures with prioritisation and expected completion, a root cause analysis, and the staff or functions responsible for implementation.
• The plan must also set out the risks of not implementing the proposed remediation measures, and where relevant, the risks associated with implementing them.