1. Member States shall ensure that investment services and/or activities
as well as ancillary services may be provided within their territories
in accordance with this Directive and Directive 2000/12/EC through the
establishment of a branch provided that those services and activities are
covered by the authorisation granted to the investment firm or the credit
institution in the home Member State. Ancillary services may only be
provided together with an investment service and/or activity.
Member States shall not impose any additional requirements save those
allowed under paragraph 7, on the organisation and operation of the
branch in respect of the matters covered by this Directive.
2. Member States shall require any investment firm wishing to establish
a branch within the territory of another Member State first to notify
the competent authority of its home Member State and to provide it with
the following information:
(a) the Member States within the territory of which it plans to establish
a branch;
(b) a programme of operations setting out inter alia the investment
services and/or activities as well as the ancillary services to be
offered and the organisational structure of the branch and indicating
whether the branch intends to use tied agents;
(c) the address in the host Member State from which documents may be
obtained;
(d) the names of those responsible for the management of the branch.
In cases where an investment firm uses a tied agent established in a
Member State outside its home Member State, such tied agent shall be
assimilated to the branch and shall be subject to the provisions of this
Directive relating to branches....