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AI Summary of Article 19 Settlement of disagreements between competent authorities in cross-border situations

In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to Article 17, the Authority may assist competent authorities to reach agreement where one or more competent authorities request assistance because they disagree with the procedure, content or inactivity of another authority, or on the Authority’s own initiative where objective reasons indicate disagreement. Where those acts require a joint decision, the absence of a joint decision within the act’s time limits gives rise to a presumption of disagreement.

Competent authorities must notify the Authority without undue delay when agreement has not been reached under the time‑limit or two‑month rules. The Chairperson assesses whether the Authority should act and, if acting on its own initiative, notifies the authorities. Pending that decision, authorities defer individual or joint decisions. The Authority sets a conciliation time limit and mediates; if conciliation fails it may adopt binding decisions requiring specific action or restraint, including revocation or amendment of prior decisions and, where necessary, individual measures addressed to financial market participants. The Chairperson reports on the nature of disagreements, agreements reached and decisions in the Article 50(2) report.

Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2020 - onwards
Version 4 of 4

Article 19 Settlement of disagreements between competent authorities in cross-border situations

1. In cases specified in the legislative acts referred to in Article 1(2) and without prejudice to the powers laid down in Article 17, the Authority may assist the competent authorities in reaching an agreement in accordance with the procedure set out in paragraphs 2 to 4 of this Article in either of the following circumstances:

(a) at the request of one or more of the competent authorities concerned where a competent authority disagrees with the procedure or content of an action, proposed action, or inactivity of another competent authority;

(b) in cases where the legislative acts referred to in Article 1(2) provide that the Authority may assist, on its own initiative, where on the basis of objective reasons, disagreement can be determined between competent authorities.