Verification of information concerning entities located in other Member States
Article 50
1. Member States shall ensure that where a competent authority in one Member State needs to verify information about investment firms, investment holding companies, mixed financial holding companies, financial institutions, ancillary services undertakings, mixed‐activity holding companies or subsidiaries that are located in another Member State, including subsidiaries which are insurance companies, and makes a request to that effect, the relevant competent authorities of that other Member State carry out that verification in accordance with paragraph 2. 2. Competent authorities that have received a request pursuant to paragraph 1 shall do any of the following: (a) carry out the verification themselves within the framework of their competence; (b) allow the competent authorities who made that request to carry out the verification; (c) request an auditor or expert to carry out the verification impartially and to report the results promptly. For the purposes of points (a) and (c), the competent authorities that made the request shall be allowed to participate in the verification.