At the same time, the General Board highlighted that this decision reconfirmed the need for financial institutions to remain prudent when deciding on distributions.
In particular, the Decision identifies whether or not a third country applies supervisory and regulatory prudential requirements that are at least equivalent to those applicable in the Union for the purposes of determining the treatment of exposures under Part Four of Regulation (EU) No 575/2013.
The Decision identifies a list of third countries and territories where supervisory and regulatory prudential requirements are considered equivalent to those applied in the Union for the purposes of art. 391 of that Regulation.
Uniform formats and templates for notification of a determination of impracticability of contractual recognition should be drafted in a way that ensures a significant and uniform assessment of the determination by resolution authorities across the Union.
In order to improve their quality and ensure their comparability, the data in the notification templates should comply with the single data point template. The use of the single data point template is a widespread practice in supervisory reporting. The single data point template should consist of a structural representation of the data and identify all relevant business concepts for uniform notification of the determination of impracticability of contractual recognition.
In particular, the Guidelines provide operational guidance on the criteria for drafting marketing communications, having regard to general criteria, as well as the representation of information regarding costs, risks, past and expected returns and sustainability issues.
According to the terms set forth in paragraph 1 of these Guidelines, with effect from February 2, 2022, managers in the dissemination in Italy of marketing communications on UCITS managed by them will be required to comply with the interpretative guidelines issued by the European Authority through the Guidelines subject of this notice.
