Transparency
Strategies, policies and procedures should be communicated to all relevant staff throughout an institution. An institution’s staff should understand and adhere to policies and procedures pertaining to their duties and responsibilities.
Accordingly, the management body should inform and update the relevant staff about the institution’s strategies and policies in a clear and consistent way, at least to the level needed to carry out their particular duties. This may be done through written guidelines, manuals or other means.
Where parent undertakings are required by competent authorities under Article 106(2) of Directive 2013/36/EU to publish annually a description of their legal structure and governance and the organisational structure of the group of institutions, the information should include all entities within the group structure as defined in Directive 2013/34/EU (opens EUR-Lex in a new tab)(48), by country.
The publication should include at least:
an overview of the internal organisation of the institutions and the group structure as defined in Directive 2013/34/EU (opens EUR-Lex in a new tab) and changes thereto, including the main reporting lines and responsibilities;
any material changes since the previous publication and the date of the material change;
new legal, governance or organisational structures;
information on the structure, organisation and members of the management body, including the number of its members and the number of those qualified as independent, and specifying the gender and duration of the mandate of each member of the management body;
the key responsibilities of the management body;
a list of the committees of the management body in its supervisory function and their composition;
an overview of the conflict of interest policy applicable to the institution and to the management body;
an overview of the internal control framework; and
an overview of the business continuity management framework.