Article 11 – Relevance of major incidents to competent authorities in other Member States

The assessment of whether the major incident is relevant for competent authorities in other Member States as referred to in Article 19(7) of Regulation (EU) 2022/2554 shall be based on whether the incident has a root cause originating from another Member State or whether the incident has or has had a significant impact in another Member State in relation to any of the following:

1. clients or financial counterparts;
2. a branch of the financial entity or another financial entity within the group;
3. a financial market infrastructure or a third-party provider which may affect financial entities to which they provide services.