Article 410 — Uniform condition of application
- EBA shall report to the Commission annually on measures taken by the competent authorities in order to ensure the compliance with the requirements of Titles II and III by institutions.
- EBA shall develop draft regulatory technical standards to specify in greater detail:
- the requirements in Articles 405 and 406 applying to institutions becoming exposed to the risk of a securitisation;
- the retention requirement, including the qualifying criteria for retaining a material net economic interest as referred to in Article 405 and the level of retention;
- the due diligence requirements in Article 406 for institutions becoming exposed to a securitisation position; and
- the requirements in Articles 408 and 409 applying to sponsor and originator institutions.
EBA shall submit those draft regulatory technical standards to the Commission by 1 January 2014.
- EBA shall develop draft implementing technical standards to facilitate the convergence of supervisory practices with regard to the implementation of Article 407, including the measures to be taken in the case of breach of the due diligence and risk management obligations.
EBA shall submit those draft implementing technical standards to the Commission by 1 January 2014.