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It updates the principles, requirements and procedures that manufacturers* must respect in order to receive European Central Bank (ECB) accreditation* to carry out euro-related activities.
Amending Decision (EU) 2022/2063, incorporated into the consolidated version of Decision (EU) 2020/637, further clarifies and specifies the ethical requirements for manufacturers.
The decision provides for the updated accreditation principles, requirements (security, quality, environmental, health and safety, location, international quality management and ethical requirements) and procedures to be followed by the relevant manufacturers and the ECB. The decision adds the ethical conduct of business as a new main requirement for accredited manufacturers.
In their request for accreditation, manufactures should also include a written declaration issued and signed by an independent auditor or a certification confirming the implementation and operation of a corporate compliance programme.
The decision also specifically establishes the cases of non-compliance with these rules and their consequences (which range from warnings to the revocation of the accreditation and financial penalties), together with the legal remedies available for the resolution of disputes.
Repeal
Decision (EU) 2020/637 of 27 April 2020 repeals Decision ECB/2013/54 as of 18 May 2021. Indeed, to ensure a smooth transition from the previous accreditation procedures, the previous legal regime (Decision ECB/2013/54) remained in place until that date, and manufacturers had 30 months, until 16 November 2022, to meet the new ethical requirements.
Decision (EU) 2020/637 has applied since 18 May 2021.
Amending Decision (EU) 2022/2063 has applied since 16 November 2022.
Decision (EU) 2020/637 of the European Central Bank of 27 April 2020 on accreditation procedures for manufacturers of euro secure items and euro items (ECB/2020/24) (recast) (OJ L 149, 12.5.2020, pp. 12–35).
Successive amendments to Decision (EU) 2020/637 have been incorporated in the original text. This consolidated version is of documentary value only.
Consolidated version of the Treaty on the Functioning of the European Union – Part Three – Union policies and internal actions – Title VIII – Economic and monetary policy – Chapter 2 – Monetary policy – Article 128 (ex Article 106 TEC) (OJ C 202, 7.6.2016, p. 103).
Consolidated version of the Treaty on the Functioning of the European Union – Protocol (No 4) on the Statute of the European System of Central Banks and of the European Central Bank (OJ C 202, 7.6.2016, pp. 230–250).
Council Regulation (EC) No 2532/98 of 23 November 1998 concerning the powers of the European Central Bank to impose sanctions (OJ L 318, 27.11.1998, pp. 4–7).
See consolidated version.
last update 10.11.2022