S.L. 330.6 Art. 4Identifying a financial conglomerate.

(1) The Authority shall identify from among its regulated entities, in accordance with regulations 2, 3 and 5, any group that falls within the scope of these regulations.

(2) The Authority shall cooperate closely with other competent authorities when regulated entities authorised in Malta form part of any group which has been identified by other competent authorities in accordance with the Financial Conglomerates Directive or regulations transposing the Financial Conglomerates Directive in another Member State.

(3) If the Authority is of the opinion that a regulated entity authorised in Malta is a member of a group which may be a financial conglomerate and which has not already been identified in accordance with these regulations, similar or equivalent regulations in another Member State or the Financial Conglomerates Directive, the Authority shall communicate its view to the other competent authorities concerned and to the Joint Committee.

(4) The Authority, when appointed as coordinator in accordance with regulation 11, shall inform the parent undertaking at the head of a group or, in the absence of a parent undertaking, the regulated entity with the largest balance sheet total in the most important financial sector in a group, that the group has been identified as a financial conglomerate and of its appointment as coordinator. The Authority shall also inform the competent authorities which authorised the regulated entities in the group, the competent authorities of the Member State in which the mixed financial holding company has its head office as well as the Joint Committee.