S.L. 371.22 Art. 11Co-operation with European regulatory authorities and the Commission.        Cap. 330.

(1) Where a credit institution, financial holding company, mixed financial holding company or mixed-activity holding company is situated in Malta and controls one or more subsidiaries authorised in another Member State which are insurance undertakings or other undertakings providing investment services, the competent authority shall cooperate closely with European regulatory authorities and with other authorities entrusted with the public task of supervising insurance undertakings in other Member States. Without prejudice to its responsibilities, the competent authority shall provide the authorities referred to in this sub-regulation with any information likely to simplify their task and to allow supervision of the activity and overall financial situation of the undertakings they supervise.

(2) Where, pursuant to regulation 3, the competent authority is the consolidating supervisor of a group with a parent mixed financial holding company, but is not the coordinator in accordance with Article 10 of Directive 2002/87/EC, the competent authority shall cooperate with the coordinator for the purpose of applying the CRD and the CRR on a consolidated basis. In order to facilitate and establish effective cooperation, the competent authority shall have written coordination and cooperation arrangements with the coordinator in place.

(3) Where, pursuant to regulation 3, the competent authority is not the consolidating supervisor of a group with a mixed parent financial holding company, but is not the coordinator in accordance with Article 10 of Directive 2002/87/EC, the competent authority shall cooperate with the consolidating supervisor for the purposes of applying the CRD and the CRR on a consolidated basis. In order to facilitate and establish effective cooperation, the competent authority shall have written coordination and cooperation arrangements with the consolidating supervisor in place.

(4) Information received, within the framework of supervision on a consolidated basis, and in particular any exchange of information between the competent authority and European regulatory authorities which is provided for in the CRD, shall be subject to professional secrecy requirements at least equivalent to those pursuant to the Malta Financial Services Authority Act and the Act.

(5) The competent authority as consolidating supervisor shall establish a list of the financial holding companies or mixed financial holding companies referred to in Article 11 of the CRR. Such a list shall be communicated to the European regulatory authorities, to the EBA and to the Commission.