S.L. 371.22 Art. 20Supervision of mixed financial holding companies.

(1) Where a mixed financial holding company is subject to equivalent provisions under the Act and any regulations or

Rules made thereunder transposing the requirements of the CRD, and under Directive 2002/87/EC, in particular in terms of risk-based supervision, the competent authority may, as consolidating supervisor, after consulting the other European regulatory authorities responsible for the supervision of subsidiaries, apply only the latter Directive to that mixed financial holding company.

(2) Where a mixed financial holding company is subject to equivalent provisions under the Act and any regulations or Rules made thereunder transposing the requirements of the CRD and under Directive 2009/138/EC, in particular in terms of risk-based supervision, the competent authority may, where it is the consolidating supervisor, in agreement with the group supervisor in the insurance sector, apply to that mixed financial holding company only the provisions of the Directive relating to the most significant financial sector as defined in Article 3(2) of Directive 2002/87/EC. (CREDIT INSTITUTIONS)

(3) The competent authority, as consolidating supervisor, shall inform the EBA of the decisions taken under sub-regulations (1) and (2).