Purpose and general principles. The purpose of this Memorandum of Understanding is to formalise cooperation and information-sharing mechanisms between the ECB and the FSRA, the competent supervisory Authority of ADGM. Such cooperation is essential in order to promote the integrity, stability and efficiency of the supervised entities. This Memorandum of Understanding is aimed at ensuring the effective exchange of supervisory information for the performance of the Authorities’ respective supervisory powers over supervised entities, to the extent permitted by law, and in accordance with the Core Principles for Effective Banking Supervision developed by the Basel Committee on Banking Supervision. The Authorities recognise that cooperation under this Memorandum of Understanding may be denied on the grounds of laws, regulations and requirements, or public interest, as well as where it would interfere with an on-going investigation or jeopardise the proper performance of the tasks of the Authorities, including due to resources constraints.
Purpose and general principles. 1. This MMoU is a statement of intent to consult, cooperate and exchange information in connection with the discharge of the responsibilities entrusted to the Authorities under the Laws and Regulations, in a manner consistent with, and permitted by, the laws and requirements that govern the Authorities.
2. This MMoU does not create any legally binding obligations, confer any enforceable rights, or supersede applicable legislation. This MMoU does not confer upon any Person the right or ability directly or indirectly to obtain, suppress, or exclude any information or to challenge the execution of a request for assistance under this MMoU.
3. This MMoU does not intend to limit an Authority to taking solely those measures described herein in fulfilment of its functions. In specific circumstances, in accordance with applicable legislation of the Authorities, information may be obtained by an Authority directly from a Covered Entity operating in its jurisdiction. In such a case, a copy of any request to the Covered Entity is sent at the same time to the Home Authority.
4. The Authorities will, within the framework of this MMoU, provide one another with the fullest cooperation permissible to better enable them to carry out the responsibilities entrusted to them under the Laws and Regulations. Following consultation, assistance may be denied:
a) where the cooperation would require an Authority to act in a manner that would violate the applicable legislation;
b) where a request for assistance is not falling within the scope of this MMoU or is not made in accordance with the terms of this MMoU, or
c) on reasons of public interest. Assistance will not be denied based on the fact that the type of conduct described in the request for assistance would not be a violation of the Laws and Regulations of the Requested Authority. In case of denial, the Requested Authority will provide the reasons for not granting the assistance. Where the Requested Authority presents objective grounds by reasons of which the request cannot be fulfilled in part or in whole, the Authorities will consult with a view to reaching an understanding on the assistance to be provided.
5. No domestic banking secrecy, blocking laws or regulations should prevent an Authority from providing assistance to the other Authority.
6. The Authorities will periodically review the functioning and effectiveness of the cooperation arrangements between the Authorities with a view, inter alia, to expanding or altering ...
Purpose and general principles. 1. The purpose of this MoU is to establish a cooperation between the Signatory Authorities, including the mutual exchange of any relevant information, as stipulated in Section IV. This is based on the common understanding that equivalent obligations of professional secrecy apply to any Signatory Authority who receives information exchanged under this MoU.
2. This MoU focuses on the cooperation and mutual exchange of relevant information regarding ESA which may directly or indirectly impact CSDs of the Euroclear Group, as stipulated in Section IV, between the Signatory Authorities, pursuant to the specific tasks conferred to each of the Signatory Authorities concerning the supervision or oversight of either the CSDs of the Euroclear Group or ESA, where applicable.
3. This MoU aims to facilitate the cooperation and the mutual exchange among the Signatory Authorities of relevant information, views, assessment outcomes and related follow-up measures from the Signatory Authorities on the scope of cooperation as defined in Section IV in order to allow them (i) to carry out their legal duties and responsibilities as referred to in Section I, including the assessment of common services provided by ESA to the CSDs of the Euroclear Group, and according to the Principles for Financial Market Infrastructures (PFMI), and (ii) to pursue common views on issues that directly or indirectly impact the CSDs of the Euroclear Group within the scope of their respective mandates, roles, responsibilities and powers, to the extent permitted under their respective laws and regulations.
4. The Signatory Authorities recognise the mutual need and benefit of the cooperation and exchange of relevant information with regard to ESA that is common and directly or indirectly impacts several or all Euroclear group CSDs. In that regard, the cooperation and the mutual exchange of relevant information under this MoU aims to avoid duplication of tasks and information requests to ESA.
5. The Signatory Authorities will follow-up on the implementation of the recommendations regarding Signatory Authorities’ assessment of common services provided by ESA to the CSDs of the Euroclear Group, within the scope of cooperation as defined in Section IV.1.
Purpose and general principles. 1. The purpose of this Cooperative Arrangement is to formalise cooperation and information-sharing mechanisms between the Authorities in relation to CCPs and Supervised entities.
2. This Cooperative Arrangement is aimed at ensuring the effective exchange of Supervisory information for the performance of the Authorities’ respective tasks, to the extent permitted by law.
3. The Authorities recognise that cooperation under this Cooperative Arrangement could be denied on the grounds of laws, regulations and requirements, or public interest, as well as where it would interfere with an ongoing investigation or impede the smooth and effective execution of tasks conferred on the Authorities by Union law and/or their statutes.
Purpose and general principles. A. The purpose of this Article is to provide a mutually-acceptable method for prompt and equitable resolution of grievances for bargaining unit employees and the Parties.
B. The Parties fully support the informal resolution of grievances. The Parties agree that most grievances arise from misunderstandings which can and should be settled promptly and satisfactorily on an informal basis at the immediate supervisory level.
C. The Parties will make every effort to ensure that grievances and complaints are resolved in an orderly, prompt, and equitable manner that shall maintain the self- respect of the employee and be consistent with the principles of good management and the public interest.
D. The Parties agree that the initiation of a grievance in good faith by an employee should not cast any reflection on his/her standing with his/her supervisor or his/her loyalty to the organization. The Parties’ representatives shall not discriminate against employees for exercising their right to file a grievance pursuant to this Article. The grievance should not be considered a negative reflection on the Supervisor.
E. It is in the best interest of resolution of disputes that the Agency conduct such fact- finding as deemed appropriate by the Agency and engage in good faith consideration of the issues and information presented in the grievance procedure.
F. The Parties agree that the time frames in this Article will be strictly adhered to, absent a mutually agreed upon extension.
G. Union representatives may not use official time to prepare or pursue grievances (including arbitration of grievances), unless the grievance is solely on their own behalf.
Purpose and general principles. 1. The purpose of this Memorandum of Understanding is to formalise cooperation and information-sharing mechanisms between the ECB and the BRSA in relation to supervised entities. Such cooperation is essential in order to promote the safety and soundness of supervised entities and the stability of the financial system.
2. This Memorandum of Understanding is aimed at ensuring the effective exchange of supervisory information for the performance of the Authorities’ respective supervisory powers over supervised entities, to the extent permitted by law, and in accordance with the Core Principles for Effective Banking Supervision developed by the Basel Committee on Banking Supervision11.
3. The Authorities recognise that cooperation under this Memorandum of Understanding may be denied on the grounds of laws, regulations and public interest, as well as where it would interfere with an ongoing investigation or 9 For the ECB, the legal reference is Article 4(1), point (c) of the SSM Regulation, read together with Article 22 et seq. of the CRD. 10 For the ECB, the term may refer to credit institutions, financial holding companies and mixed financial holding companies as defined in Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1). 11 Available on the Bank for International Settlements’ website at xxx.xxx.xxx. jeopardise the proper performance of the tasks of the Authorities.
Purpose and general principles. 1. The purpose of this MoC is to facilitate cooperation and information-sharing mechanisms between DNB and the FSA. Such cooperation is essential in order to promote the stability and efficiency of the supervised entities.
2. This MoC is aimed at ensuring the effective exchange of supervisory information for the performance of the Authorities’ respective supervisory powers over supervised entities, to the extent permitted by law, and in line with the Core Principles for Effective Banking Supervision developed by the Basel Committee on Banking Supervision8.
3. The Authorities recognise that cooperation under this MoC may be denied on the grounds of laws, regulations and requirements, or public interest, as well as where it would interfere with an ongoing investigation or jeopardise the proper performance of the tasks of the Authorities, including due to resources constraints.
Purpose and general principles. The purpose of this Memorandum of Understanding is to formalise cooperation and information-sharing mechanisms between the ECB and the CNBV, the competent supervisory Authority of Mexico. Such cooperation is essential in order to promote the integrity, stability and efficiency of the supervised entities. This Memorandum of Understanding is aimed at ensuring the effective exchange of supervisory information for the performance of the Authorities' respective supervisory powers over supervised entities, to the extent permitted by law, and in accordance with the Core Principles for Effective Banking Supervision developed by the Basel Committee on Banking Supervision. The provisions of this Memorandum of Understanding are not intended to create legally binding obligations or supersede domestic laws. The Authorities recognise that cooperation under this Memorandum of Understanding may be denied on the grounds of laws, regulations and requirements, public interest or national security, as well as where it would interfere with an on-going investigation or jeopardise the proper performance of the tasks of the Authorities, including due to resources constraints. Each Authority will bear the cost of fulfilling a request by the other Authority. However, if the cost of fulfilling a request is likely to be substantial, the requested Authority may require the requesting Authority to make a contribution to costs.
Purpose and general principles. The purpose of this Memorandum of Understanding is to formalise cooperation and information-sharing mechanisms between the ECB and the NBRM, the competent supervisory Authority of the Republic of Macedonia. Such cooperation is essential in order to promote the integrity, stability and efficiency of the supervised �ntities. This Memorandum of Understanding is aimed at ensuring the effective exchange of supervisory information for the performance of the Authorities' respective supervisory powers over supervised entities, to the extent permitted by law, and in accordance with the Core Principles for Effective Banking Supervision developed by the Basel Committee on Banking Supervision. The Authorities recognise that cooperation under this Memorandum of Understanding may be denied on the grounds of laws, regulations and requirements, or public interest, as well as where it would interfere with an on-going investigation or jeopardise the proper performance of the tasks of the Authorities, including due to resources constraints. 14 For the ECB, the legal reference is Article 4(1)(e) of the SSM Regulation, read together with Articles 91 and 121 of Directive 2013/36/EU. 15 For the NBRM, the legal reference is Article 7, item 9) of the Law on the NBRM and Chapter VII of the Banking Law.
Purpose and general principles. The purpose of this Memorandum of Understanding is to formalise cooperation and information-sharing mechanisms between the ECB and the NYDFS. Such cooperation is essential in order to promote the integrity, stability and efficiency of the supervised entities. This Memorandum of Understanding is aimed at ensuring the effective exchange of supervisory information for the performance of the Authorities’ respective supervisory powers over supervised entities, to the extent permitted by law and the Core Principles for Effective Banking Supervision developed by the Basel Committee on Banking Supervision as implemented into the applicable law. The Authorities recognise that cooperation under this Memorandum of Understanding may be denied on the grounds of laws, regulations and requirements, or public interest, as well as where it would interfere with an on-going investigation or jeopardise the proper performance of the tasks of the Authorities, including due to resources constraints. Cooperation under this Memorandum of Understanding would be provided insofar as reasonable, appropriate, and permissible and without prejudice to the proper performance of the Authority’s tasks.
