What changed between the draft committee report of 19 Dec 2023 and the draft committee report of 18 Sept 2025

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 1b (new): 1b. For the purposes of this Article, Article 35b and Article 70(3), ‘other authorities’ means any of the following authorities: / (a) other European Supervisory Authorities; / (b) the ESRB; / (c) competent authorities, as defined in Article 4, point (2), of this Regulation; / (d) competent authorities, as defined in Article 4, point (2), of Regulation (EU) No 1094/2010; / (e) competent authorities, as defined in Article 4, point (3) of Regulation (EU) No 1095/2010; / (f) the AMLA, as established by Regulation (EU) …/… of the European Parliament and of the Council1a; / (g) authorities, as defined in Article 2, point (1), of Directive (EU) …/… of the European Parliament and of the Council1b; / (h) the SSM, as defined in Article 2, point (9), of Regulation (EU) No 1024/2013; / (i) the SRB; / (j) national resolution authorities, as defined in Article 3, point (3), of Regulation (EU) No 806/2014. / For the purposes of this Article, ‘financial institution’ means a ‘financial institution’ as defined in Article 2, point (a), of Regulation (EU) No 1092/2010. / 1a OP: Please insert in the text the number of the Regulation contained in document 2021/0240(COD) (proposal for a Regulation establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism - COM/2021/421 final) and insert the number, date, title and OJ reference of that Regulation in the footnote. / 1b OP: Please insert in the text the number of the Directive contained in document 2021/0250(COD) …

Removed:The proposal by the Commission includes in the scope of this Amending Regulation only the ESRB, the ESAs as well as the respective competent authorities in the Member States. In order to foster exchange of information across the entire financial sector, it is necessary to widen the scope of this Amending Regulation to also include anti-money laundering authorities, resolution authorities and supervisory functions of central banks.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 2: 2. The request for exchange of information shall duly indicate the legal basis under Union law allowing the requesting authority to obtain the information from financial institutions or other competent authorities. The requesting authority and the sharing authority shall be subject to the obligations of professional secrecy and data protection laid down in Articles 70 and 71 and in sectoral legislation applicable to the sharing of data between the financial institution and the requesting authority as well as to the sharing of data between the financial institution and the sharing authority. The sharing authority shall inform each relevant financial institution about such exchange of information, provided that the information has not been anonymised, modified, aggregated or treated by any other method of disclosure control to protect confidential information, without undue delay.

Removed:In order to ensure that the reduction of administrative burden for companies does not result in an equal increase in the administrative burden for authorities, informing on the exchange of information should be limited to relevant financial institutions, only when the exchanged information does not cater for a degree of anonymisation.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 3: 3. Paragraphs 1, 1a and 2 shall also apply to information that the sharing authority has received from a financial institution or the other authorities and upon which the sharing authority has subsequently performed quality checks or which the sharing authority has otherwise processed.

Removed:The reference to other authorities is adapted to align it with the increased scope of authorities.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 4: 4. For sharing information as referred to in paragraphs 1, 1a, 2 and 3, the other authorities shall enter into memoranda of understanding to specify the modalities of the exchange of information. They shall also specify arrangements for the sharing of resources for the collection and processing of such shared data.

Removed:The use of MoUs will be vital to ensure a smooth process in the exchange of information. Therefore, all authorities should enter into MoU. The reference to other authorities is adapted to align it with the increased scope of authorities. The reference to other paragraphs is adapted to align it with new provisions foreseen.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 5: 5. Paragraphs 1 to 4 shall be without prejudice to the protection of intellectual property rights and shall not prevent or restrict the exchange of information between the other authorities in accordance with provisions in other Union legislation. Where the provisions in this Article conflict with provisions in other Union legislation that regulate the exchange of information between the other authorities, the provisions in such other Union legislation shall prevail.

Removed:The reference to other authorities is adapted to align it with the increased scope of authorities.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 6: 6. Without prejudice to other obligations laid down in Union law for sharing information, the Authority and the competent authorities may, upon justified request, share on a case-by-case basis, with the Commission, information that financial institutions have reported to them pursuant to their duties under Union law, in a form that does not allow the identification of individual entities and does not contain personal data.

Removed:The information exchange provision in paragraph 6 is not consistent with the information exchange provisions in paragraph 1. The conditions for the information exchange between authorities is dealt with in paragraph 1. The conditions for the information exchange with the Commission is dealt with in paragraph 6 and adapted to ensure a degree of autonomy in the decision to exchange such information.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4, Article 35a – paragraph 7a (new): 7a. The Authority and competent authorities shall, by 31 December 2024, report to the Commission all legal obstacles in sectoral regulations that in any way prevent them from exchanging information with the other authorities or with other entities. / On the basis of that report and taking due account of the protection of intellectual property rights, the obligations of professional secrecy and data protection, the Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal to remove such legal obstacles in sectoral legislation to foster the exchange of information between authorities and with other entities by 30 June 2025.

Removed:As pointed out by management of the ESRB and the ESAs, there are still many legal obstacles in sectoral regulations that make it impossible to exchange information. Therefore, these obstacles should be reported to the Commission in order to remove these while simultaneously respecting intellectual property rights, professional secrecy and data protection.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4 a (new), Article 35 b (new): 4a. the following article is inserted: / ‘Article 35b / Establishment of a Single Integrated Reporting System / 1. By 31 December 2026, the Authority shall, together with the other authorities, establish a Single Integrated Reporting System including: / (a) a common data dictionary; / (b) a joint repository for reporting and disclosure requirements; / (c) a central data collection point; and / (d) a single reporting point for entities to identify double reporting, redundant or obsolete reporting or disclosure requirements. / In close collaboration with the Commission, the establishment of the Single Integrated Reporting System shall be accompanied by an estimate of the overall financial impact. The Commission shall, where appropriate, submit to the European Parliament and to the Council a legislative proposal to ensure the necessary financial, human and IT resources for the establishment. / (Ongoing work to be considered: COM report on "Implementing dictionaries by assisted machine learning", EBA "Cost of Compliance Study" or EBA "Feasibility Study on an integrated reporting system".)

Removed:Building on the work by the Commission and authorities on integrated reporting systems, the authorities should be mandated to establish a Single Integrated Reporting System. This should include a data dictionary for common coding and understanding of data, a joint repository enabling a common overview of requested and obtained data, a central data collection point for efficient data exchange as well as a single reporting point to enable entities to identify double, obsolete or redundant reporting and disclosure. The financial implications need to be accounted for.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 4 b (new), Article 36 – paragraph 2: 4b. in Article 36, paragraph 2 is replaced by the following: / "2. The Authority, together with the European System of Central Banks (ESCB), the Commission, the national supervisory authorities and national statistics authorities, shall cooperate closely with the ESRB by sharing the information and analysis necessary for the achievement of their tasks. / The Authority shall, together with the ESRB and the ECB, coordinate its efforts to detect, monitor, prevent and mitigate systemic risks to financial stability. / The Authority shall, in accordance with Article 15(1) to (5) of Regulation (EU) No 1092/2010, comply with the outlined data sharing provisions. / The Authority, in cooperation with the ESRB, shall have in place adequate internal procedures for the transmission of confidential information, in particular information regarding individual financial institutions."

Removed:(32010R1093)

Removed:The Article related to the relationship with the ESRB is adapted to cater for the changes proposed in Article 15(1) to (5) in Regulation (EU) No 1092/2010.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 5, Article 54 – paragraph 2 – indent 7: — reporting and disclosure requirements and the collection of information from financial institutions.;

Removed:The cross-sectoral consistency of reporting and disclosure requirements should be included in the tasks of the JC.

Removed:Regulation (EU) No 1093/2010

Removed:Article 2 – paragraph 1 – point 6, Article 70 – paragraph 3: 3. Paragraphs 1 and 2 shall not prevent the Authority from exchanging information with the other authorities referred to in Article 35a(1b) – in accordance with this Regulation and with other Union legislation applicable to financial institutions. / (deleted)

Removed:The reference to other authorities is adapted to align it with the increased scope of authorities. The reference to other paragraphs is adapted to align it with new provisions foreseen.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point -1 (new), Article 16a – paragraph 1 – subparagraph 1 a (new): -1. in Article 16a(1), the following subparagraph is added: / "The Authority’s opinions shall not be limited to ongoing legislative procedures. The Authority may also propose in its opinions, where appropriate, amendments to legislative acts in force, including amendments: / (a) to remove redundant or obsolete reporting and disclosure requirements with respect to Union law or the national transposition of Union law by Member States; / (b) to ensure consistent reporting and disclosure requirements across sector-specific, as well as cross-sector, legislation; / (c) regarding the adequacy of the degree of proportionality in reporting and disclosure requirements with respect to the nature, size and complexity of the reporting entity."

Removed:(32010R1094)

Removed:In order to foster a reduction of redundant or obsolete reporting and disclosure requirements, the Authority should provide opinions not only on ongoing, but also on concluded legislative procedures. These opinions could provide input on potential reduction of vertical inconsistencies in reporting and disclosure requirements ("gold plating"), horizontal inconsistencies across sector-specific as well as cross-sector legislation, as well as the adequacy of the degree of proportionality.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 1, Article 29 – paragraph 1 – point d: (d) reviewing the application of the relevant regulatory and implementing technical standards adopted by the Commission, and of the guidelines and recommendations issued by the Authority and proposing amendments where appropriate, including to remove disproportionate, redundant or obsolete reporting and disclosure requirements and minimise costs;

Removed:The common supervisory culture of the Authority should be expanded to allow for the review of unproportionate, redundant or obsolete reporting and disclosure requirements and minimise costs.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 2, Article 30 – paragraph 3 – point e: (e) the effectiveness of national reporting and disclosure requirements and the degree of convergence of such requirements with the ones set out in Union law.

Removed:Integrating the convergence of reporting and disclosure requirements in peer reviews with the competent authorities is vital to reduce excess reporting and disclosure with respect to "gold plating" on Member State level.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 3, Article 35 – paragraph 4: 4. Before requesting information in accordance with this Article and in order to avoid the duplication of reporting and disclosure obligations, the Authority shall take account of information collected by the other authorities referred to in Article 35a(1b) and any relevant existing statistics produced and disseminated by the European Statistical System and the European System of Central Banks.

Removed:The reference to other authorities is adapted to align it with the increased scope of authorities.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 4, Article 35a – paragraph 1: 1. The Authority and the competent authorities shall share with the other authorities, on a case-by-case or regular basis, information they obtained from financial institutions or other competent authorities, when the requesting authority is entitled to obtain that information, pursuant to its mission, objectives, tasks and powers or in accordance with relevant Union law. / For the purposes of sharing the information referred to in the first subparagraph of this paragraph, the Authority or competent authority shall use the Single Integrated Reporting System referred to in Article 35b, upon its establishment. / (deleted)

Removed:The conditions for the exchange of information should not be too restrictive. Therefore, mandates relating to the mission, objectives, tasks and powers of the Authority and competent authorities are added in addition to specific mandates for reporting requirements in sector-specific legislation (i.e. "other relevant Union law").

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 4, Article 35a – paragraph 1a (new): 1a. The Authority and the competent authorities shall each be able to request from the other authorities information they would otherwise request from financial institutions or other competent authorities, where both of the following conditions are met: / (a) they are entitled to obtain that information pursuant to their mission, objectives, tasks and powers or in accordance with relevant Union law; / (b) that information has been obtained by at least one of the other authorities. / For the purposes of determining whether the condition referred to in point (b) is met, the Authority or competent authority shall use the Single Integrated Reporting System referred to in Article 35b, upon its establishment.

Removed:As the Commission proposal foresees exchange of information between authorities only upon request from other authorities, the conditions for requesting such exchange of information need to be clarified. Point (b) therefore would imply a consistent enforcement of the "report once" principle.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 4, Article 35a – paragraph 1b (new): 1b. For the purposes of this Article, Article 35b and Article 70(3), ‘other authorities’ means any of the following authorities: / (a) other European Supervisory Authorities; / (b) the ESRB; / (c) competent authorities, as defined in Article 4, point (2), of Regulation (EU) No 1093/2010; / (d) competent authorities, as defined in Article 4, point (2), of this Regulation; / (e) competent authorities, as defined in Article 4, point (3) of Regulation (EU) No 1095/2010; / (f) the AMLA, as established by Regulation (EU) …/… of the European Parliament and of the Council1a; / (g) authorities, as defined in Article 2, point (1), of Directive (EU) …/… of the European Parliament and of the Council1b; / (h) the SSM, as defined in Article 2, point (9), of Regulation (EU) No 1024/2013; / (i) the SRB; / (j) national resolution authorities, as defined in Article 3, point (3), of Regulation (EU) No 806/2014. / For the purposes of this Article, ‘financial institution’ means a ‘financial institution’ as defined in Article 2, point (a), of Regulation (EU) No 1092/2010. / 1a OP: Please insert in the text the number of the Regulation contained in document 2021/0240(COD) (proposal for a Regulation establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism - COM/2021/421 final) and insert the number, date, title and OJ reference of that Regulation in the footnote. / 1b OP: Please insert in the text the number of the Directive contained in document 2021/0250(COD) …

Removed:The proposal by the Commission includes in the scope of this Amending Regulation only the ESRB, the ESAs as well as the respective competent authorities in the Member States. In order to foster exchange of information across the entire financial sector, it is necessary to widen the scope of this Amending Regulation to also include anti-money laundering authorities, resolution authorities and supervisory functions of central banks.

Removed:Regulation (EU) No 1094/2010

Removed:Article 3 – paragraph 1 – point 4, Article 35a – paragraph 2: 2. The request for exchange of information shall duly indicate the legal basis under Union law allowing the requesting authority to obtain the information from financial institutions or other competent authorities. The requesting authority and the sharing authority shall be subject to the obligations of professional secrecy and data protection laid down in Articles 70 and 71 and in sectoral legislation applicable to the sharing of data between the financial institution and the requesting authority as well as to the sharing of data between the financial institution and the sharing authority. The sharing authority shall inform each relevant financial institution about such exchange of information, provided that the information has not been anonymised, modified, aggregated or treated by any other method of disclosure control to protect confidential information, without undue delay.

Removed:In order to ensure that the reduction of administrative burden for companies does not result in an equal increase in the administrative burden for authorities, informing on the exchange of information should be limited to relevant financial institutions, only when the exchanged information does not cater for a degree of anonymisation.

Removed:Regulation (EU) No 1094/2010