S.L. 370.46 Art. 10Exchange of information. 18 [S.L.

(1) The competent authority shall ensure that there are no legal impediments preventing the exchange, between undertakings included within the scope of supervision on a consolidated basis, mixed-activity holding companies and their subsidiaries, or subsidiaries of an investment firm, a financial holding company or mixed financial holding company, which are not included within the scope of supervision on a consolidated basis, of any information which would be relevant for the purposes of supervision in accordance with the relevant provisions of the Act, and any regulations or Rules made thereunder transposing the requirements of Article 110 and Chapter 3 of the CRD.

(2) Where a subsidiary that is an investment firm licensed in terms of the Act is not included in supervision on a consolidated basis under one of the cases provided for in Article 19 of the CRR, the competent authority may ask the parent undertaking of such investment firm for information which may facilitate supervision of that subsidiary.

(3) The competent authority, as consolidating supervisor, may ask the subsidiaries of an investment firm, a financial holding company or mixed financial holding company which are not included within the scope of supervision on a consolidated basis for information which would be relevant for the purpose of supervising those subsidiaries. In such a case, the procedures for transmitting and verifying the information set out in regulation 16 shall apply.

(4) Where a parent undertaking and any of its subsidiaries (SUPERVISORY CONSOLIDATION) 370.46 (CAPITAL REQUIREMENTS DIRECTIVE) that are investment firms are situated in different Member States, the competent authority shall communicate to the European regulatory authorities concerned all relevant information which may allow or aid the exercise of supervision on a consolidated basis.

(5) The competent authority, as consolidating supervisor, may invite the European regulatory authorities of the parent undertaking to ask the parent undertaking to provide any information which would be relevant for the purposes of supervision on a consolidated basis. Such information shall be transmitted to the competent authority by the European regulatory authority concerned.

(6) Where a parent undertaking is situated in Malta and the competent authority does not itself exercise supervision on a consolidated basis in terms of regulation 3, it shall, upon request by the European regulatory authority responsible for exercising such supervision, require the parent undertaking to provide any information relevant for the purposes of supervision on a consolidated basis and the competent authority shall transmit such information to the European regulatory authority making the request.

(7) The competent authority shall exchange the information referred to in sub-regulation (4) with other European regulatory authorities, on the understanding that, in the case of financial holding companies, mixed financial holding companies, financial institutions or ancillary services undertakings, the collection or possession of information shall not imply that the competent authority is required to play a supervisory role in relation to those investment firms or undertakings standing alone.

(8) The competent authority shall exchange the information referred to in regulation 19 with the European regulatory authorities concerned, on the understanding that the collection or possession of information does not imply that the competent authority plays a supervisory role in relation to the mixed-activity holding company and those of its subsidiaries which are not subsidiaries of an investment firm, a financial holding company or mixed financial holding company, which are not included within the scope of supervision on a consolidated basis.