Requirement (MIFID)
Article 49 Cooperation between authorities in the same Member State
Requirements MIFID - DIRECTIVE 2004/39/EC
Description
Description
If a Member State designates more than one competent authority to
enforce a provision of this Directive, their respective roles shall be
clearly defined and they shall cooperate closely.
Each Member State shall require that such cooperation also take place
between the competent authorities for the purposes of this Directive and
the competent authorities responsible in that Member State for the supervision
of credit and other financial institutions, pension funds, UCITS,
insurance and reinsurance intermediaries and insurance undertakings.
Member States shall require that competent authorities exchange any
information which is essential or relevant to the exercise of their functions
and duties.