rec_39

(39) The founding regulations as well as sectoral legislative acts require the ESAs to seek effective administrative arrangements, involving the exchange of information with third-country supervisors. The need for effective cooperation and information exchange should become all the more important when, pursuant to this amending Regulation, some of the ESAs assume additional, broader responsibilities in relation to the supervision of non-EU entities and activities. Where, in that context, the ESAs process personal data, including by transferring such data outside the Union, they are bound by the requirements of Regulation (EU) 2018/1725. In the absence of an adequacy decision or of appropriate safeguards, for example provided for in administrative arrangements within the meaning of point (b) of Article 48(3) of Regulation (EU) 2018/1725, the ESAs may exchange personal data with third-country authorities in accordance with and under the conditions of the public interest derogation set out in point (d) of Article 50(1) thereof, which in particular applies to cases of international data exchange between financial supervisory authorities.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-14 · Text as adopted (Official Journal); later amendments are not incorporated in this text.