Union financial services law includes internal governance and risk management rules and requirements, which are applicable to regulated financial institutions in the course of provision of those services. In order to ensure coherent application and enforcement of the obligations under this Regulation and relevant rules and requirements of Union financial services law, the competent authorities for the supervision and enforcement of those financial services legal acts, in particular competent authorities as defined in Regulation (EU) No 575/2013 of the European Parliament and of the Council and Directive 2013/36/EU of the European Parliament and of the Council, should be designated, within their respective competences, as competent authorities for the purpose of supervising the implementation of this Regulation.