AI Summary of Article 17
This document outlines the procedural requirements for management companies wishing to establish branches in another Member State under the relevant EU regulatory framework. Companies must notify their home Member State's authorities, providing key details such as the intended host Member State, a robust programme of operations, branch management details, and the risk management framework in place.
Moreover, the home authorities must act within two months to assess the submission, ensuring compliance with both national and Directive obligations. Changes to any communicated particulars necessitate advance notification to both home and host authorities, underscoring the importance of maintaining alignment with regulatory requirements throughout the operational lifecycle.
Article 17
1. In addition to meeting the conditions imposed in Articles 6 and 7, a management company wishing to establish a branch within the territory of another Member State to pursue the activities for which it has been authorised shall notify the competent authorities of its home Member State accordingly.
2. Member States shall require every management company wishing to establish a branch within the territory of another Member State to provide the following information and documents, when effecting the notification provided for in paragraph 1:
(a) the Member State within the territory of which the management company plans to establish a branch;
(b) a programme of operations setting out the activities and services according to Article 6(2) and (3) envisaged and the organisational structure of the branch, which shall include a description of the risk management process put in place by the management company. It shall also include a description of the procedures and arrangements taken in accordance with Article 15;
(c) the address in the management company's host Member State from which documents may be obtained; and