Removal of Senior Management

If the triggers of Article 27 of Directive 2014/59/EU (BRRD) are met, the competent authority can remove members of the management body or senior management under the conditions of the fit and proper test of Article 13 Directive 2013/36/EC (CRD) and Article 9 Directive 2014/65/EC (MIFID).                                                                                                      If this measure (and/or other measures of Article 27) is not sufficient, under Article 28 of the BRRD the competent authorities can remove i) the senior management and or management body of the institution as a whole, or ii) remove individuals of those bodies but this time, not necessarily under the conditions of CRD/MIFID test, including respectively Articles 91, 94 n (ii) and 100 CRD, as well as Article 9 and Annexe II (II.1), fourth paragraph MIFID but by virtue of the trigger in Article 28 being met.                                                                                                                                                                                                                                                                                         This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission ( Directorate General Financial Stability, Financial Services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.