Investment strategy recommendations and investment recommendations; authorisation to issue statutory instruments

(1) Undertakings that produce or disseminate investment strategy recommendations within the meaning of Article 3(1), no. 34 of Regulation (EU) No 596/2014, or investment recommendations within the meaning of Article 3(1), no. 35 of Regulation (EU) No 596/2014, must be organised so as to minimise conflicts of interest within the meaning of Article 20(1) of Regulation (EU) No 596/2014. In particular they must have appropriate control procedures suitable for counteracting breaches of the obligations under Article 20(1) of Regulation (EU) No 596/2014.
(2) The Bundesanstalt's powers under section 88 apply correspondingly as regards compliance with the obligations referred to in subsection (1) and the obligations arising from Article 20(1) of Regulation (EU) No 596/2014 in conjunction with a delegated act adopted on the basis of Article 20(3) of Regulation (EU) No 596/2014.
(3) The Federal Ministry of Finance may, by statutory instrument not requiring the consent of the Bundesrat, adopt further provisions on the appropriate organisation under subsection (1), first sentence. The Federal Ministry of Finance may transfer this authorisation, by statutory instrument, to the Bundesanstalt.