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Chapter 1 · Principles of prudential supervision  ›  Section 2 · Professional secrecy and duty to report › Article 17

Duties of persons responsible for the control of annual and consolidated accounts

Member States shall provide that any person who is authorised in accordance with Directive 2006/43/EC of the European Parliament and of the Council (24) and who performs in an investment firm the tasks described in Article 73 of Directive 2009/65/EC or in Article 34 of Directive 2013/34/EU, or any other statutory task, has a duty to report promptly to the competent authorities any fact or decision concerning that investment firm, or concerning an undertaking that has close links with that investment firm which:

(a)

constitutes a material breach of the laws, regulations or administrative provisions laid down pursuant to this Directive;

(b)

may affect the continuous functioning of the investment firm; or

(c)

may lead to a refusal to certify the accounts or can lead to the expression of reservations.

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