Article 10 Pending supervisory procedures or investigations

The authority whose competence ends shall inform promptly the authority assuming supervision of any supervisory procedure or investigation that has been formally initiated and which requires a decision. The authority whose competence ends shall provide this information without undue delay after becoming aware of the change in competence and no later than the publication of the list referred to in Article 13(4) of Regulation (EU) 2024/1620. The authority whose competence ends shall update this information in a timely manner whenever there is new information to report on a supervisory procedure or investigation.

The authority whose competence ends shall liaise with the authority assuming supervision without undue delay after the formal initiation of any new supervisory procedure or investigation which requires a decision initiated during the transition period.

The list of pending supervisory procedures or investigations shall be included in the inventory referred to in Article 9.

The authority whose competence ends shall undertake efforts to complete any pending supervisory procedure or investigation which requires a decision prior to the date on which the change in the supervisory competence is to occur.

If a supervisory procedure or investigation, which require a decision, cannot be completed prior to the date on which a change in the supervisory competence occurs, the authority whose competence ends shall remain competent to complete such pending supervisory procedure or investigation. For this purpose, the authority whose competence ends shall also retain all relevant powers until the supervisory procedure or investigation has been completed. The authority whose competence ends shall complete the pending supervisory procedure or investigation in question in accordance with the applicable law under its retained powers. The authority whose competence ends shall inform the authority assuming supervision prior to taking any decision in a supervisory procedure or investigation which was pending prior to the change in competence. It shall provide to the authority assuming supervision a copy of the decision taken and any relevant documents relating to that decision.

By way of derogation from paragraph 3, the authority assuming supervision may decide within one month of receiving the information necessary to complete its assessment of the relevant formally initiated supervisory procedure or investigation, and in consultation with the authority whose competence ends, to take over the supervisory procedure concerned.

If, due to reasons of national law, a decision is required prior to the end of the assessment period referred to in the first subparagraph, the authority whose competence ends shall provide the authority assuming supervision with the necessary information and specify in particular the timeframe within which the authority assuming supervision has to decide whether or not it intends to take over the procedure. Where the authority assuming supervision takes over a supervisory procedure, it shall notify the authority whose competence ends and the concerned obliged entity of its decision to take over the supervisory procedure concerned. The authority assuming supervision shall specify in its decision the consequences of taking over such supervisory procedure.

The authority assuming supervision and the authority whose competence ends shall cooperate with regard to the completion of any pending procedure and may exchange any relevant information for this purpose.