Article 16 Prior consultation of the competent authorities of other Member States | Directive 2013/36/EU - Capital Requirements Directive CRD IV | Better Regulation

AI Summary of Article 16 Prior consultation of the competent authorities of other Member States

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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes

Version date: 17 July 2013 - onwards

Article 16 Prior consultation of the competent authorities of other Member States

1. The competent authority shall, before granting authorisation to a credit institution, consult the competent authorities of another Member State where the credit institution is:

(a) a subsidiary of a credit institution authorised in that other Member State;

(b) a subsidiary of the parent undertaking of a credit institution authorised in that other Member State;

(c) controlled by the same natural or legal persons as those who control a credit institution authorised in that other Member State.

2. The competent authority shall, before granting authorisation to a credit institution, consult the competent authority that is responsible for the supervision of insurance undertakings or investment firms in the Member State concerned where the credit institution is:

(a) a subsidiary of an insurance undertaking or investment firm authorised in the Union;

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