Requirement (MIFID)
Article 57 Cooperation in supervisory activities, on-the-spot verifications or in investigations
Requirements MIFID - DIRECTIVE 2004/39/EC
Description
Description
A competent authority of one Member State may request the cooperation
of the competent authority of another Member State in a supervisory
activity or for an on-the-spot verification or in an investigation. In
the case of investment firms that are remote members of a regulated
market the competent authority of the regulated market may choose to
address them directly, in which case it shall inform the competent
authority of the home Member State of the remote member accordingly.
Where a competent authority receives a request with respect to an onthe-
spot verification or an investigation, it shall, within the framework
of its powers:
(a) carry out the verifications or investigations itself; or
(b) allow the requesting authority to carry out the verification or investigation;
or
(c) allow auditors or experts to carry out the verification or investigation.