S.L. 370.46 Art. 19Supervision of mixed activity holding companies and their subsidiaries.

(1) Where the parent undertaking of one or more investment firms licensed in terms of the Act is a mixed-activity holding company, the competent authority shall, by approaching the mixed-activity holding company and its subsidiaries either directly or via subsidiaries that are investment firms, require them to supply any information which would be relevant for the purpose of supervising those subsidiaries.

(2) The competent authority may carry out on-the-spot inspections, or have on-the-spot inspections carried out by external inspectors, to verify information received from mixed-activity holding companies and their subsidiaries. If the mixed-activity holding company or one of its subsidiaries is an insurance undertaking, the procedure set out in regulation 11 may also be used. If a mixed-activity holding company or one of its subsidiaries is situated in a Member State other than Malta but is the parent undertaking of an investment firm licensed in terms of the Act, on-the-spot verifications of information shall be carried out in accordance with the procedure set out in regulation 12.

(3) Without prejudice to Part Four of the CRR, where the parent undertaking of one or more investment firms licensed in terms of the Act is a mixed-activity holding company, the competent authority shall exercise general supervision over transactions between the investment firms and the mixed-activity holding company and its subsidiaries.