S.L. 371.11 Art. 16Collaboration betweenregulatory authorities. S.L. 371.15

(1) The competent authority shall collaborate closely with relevant European regulatory authorities in order to supervise the activities of credit institutions operating, in particular, through a branch, in one or more Member States other than that in which their head offices are situated. The competent authority shall supply the European regulatory authority in the Member States concerned with all information concerning the management and ownership of credit institutions, that is likely to facilitate their supervision and the examination of the conditions for their licensing, and all information likely to facilitate the monitoring of credit institutions, in particular with regard to liquidity, solvency, deposit guarantee, the limiting of large exposures, other factors that may influence the systemic risk posed by the credit institution, administrative and accounting procedures and internal control mechanisms.

(2) Where Malta is the home Member State, the competent authority shall:

(a) immediately provide the European regulatory authorities of the host Member States with any information and findings pertaining to liquidity supervision in accordance with Part Six of the CRR and with the Supervisory Consolidation Regulations, of the activities performed by a credit institution through its branches, to the extent that such information and findings are relevant to the protection of depositors or investors in the host Member State;

(b) immediately notify the European regulatory authorities of all host Member States where liquidity stress occurs or can reasonably be expected to occur. That information shall also include details about the planning and implementation of a recovery plan and about any prudential supervisory measures taken in that context;

(c) communicate and explain upon request to the European regulatory authorities of the host Member State how information and findings provided by the latter have been taken into account:

Provided that where the competent authority disagrees with the measures to be taken by the European regulatory authority of the host Member State, to prevent further breaches in order to protect the interests of depositors, investors and others to whom services are provided or to protect the stability of the financial system in accordance with Article 50(4) of the CRD, the competent authority may refer the matter to EBA and request its assistance in accordance with Article 19 of Regulation (EU) No 1093/2010.

(3) Where Malta is the host Member State, the competent authority may request from the European regulatory authority of the home Member State an explanation on the manner in which information and findings provided by the competent authority have been taken into account. Where upon the provision of such information the competent authority maintains that no appropriate measures have been taken by the said European regulatory authority, the competent authority may, after notifying the European regulatory authorities concerned and EBA, take appropriate measures to prevent further breaches in order to protect the interests of depositors, investors and others to whom services are provided or to protect the stability of the financial system.

(4) The competent authority may refer to EBA situations where a request for collaboration to a European regulatory authority, in particular to exchange information, has been rejected or has not been acted upon within a reasonable time.

Part V - Companies other than credit institutions