The Federal Institute's options for referral to the European Securities and Markets Authority

The Federal Institute may bring the following matters to the attention of the European Securities and Markets Authority, which may act within the framework of the powers conferred on it by Article 19 of Regulation (EU) No 1095/2010: 1. where the Federal Institute does not agree with a non-EU AIF management company's decision as to its Member State of reference, 2. where the Federal Institute does not agree with the assessment, by the competent authorities of the Member State of reference of a non-EU AIF management company, of the application of Article 37(7), first subparagraph, letters a to e and g, of Directive 2011/61/EU, 3. where an authority competent for an EU AIF does not conclude the cooperation arrangements required under Article 37(7), first subparagraph, letter d, of Directive 2011/61/EU within a reasonable period, 4. where the Federal Institute does not agree with an authorisation granted by the competent authorities of the Member State of reference of a non-EU AIF management company, 5. where the Federal Institute does not agree with the assessment, by the competent authorities of the Member State of reference of a non-EU AIF management company, of the application of Article 37(9) of Directive 2011/61/EU, 6. where the Federal Institute does not agree with the assessment as to the determination of the Member State of reference under Article 37(11) or (12) of Directive 2011/61/EU, 7. where a competent authority refuses a request for the exchange of information under the regulatory technical standards adopted by the European Commission on the basis of Article 37(17) of Directive 2011/61/EU.