Recital 2

(2) Competent authorities, their members of staff and the members of their governance bodies should be independent and free from political and economic influence. Risks of conflicts of interest undermine the integrity of the Union financial system and harm the goal of an integrated banking and capital markets union. Directive 2013/36/EU should lay down more detailed provisions for Member States to ensure that the competent authorities, including their members of staff and the members of their governance bodies, act independently and objectively. In that context, minimum requirements should be laid down to prevent conflicts of interest and limit ‘revolving doors’, providing, in particular, for cooling-off periods, a prohibition on trading instruments issued by supervised entities, and a maximum tenure period for relevant members of governance bodies. EBA should issue guidelines addressed to competent authorities on the prevention of conflicts of interest which are based on international best practices.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.