Supervision of reporting obligations and rules of conduct

(1) The Bundesanstalt may, in order to supervise compliance with 1. the reporting obligations under Article 26 of Regulation (EU) No 600/2014, including in conjunction with regulatory technical standards adopted under those Articles, 2. the obligation to report positions under section 57(1) to (4), 3. the notification obligations under section 23, 4. the obligations regulated in this Part, including in conjunction with regulatory technical standards adopted under Article 17(7), Article 27(10) and Article 32(2) of Directive 2014/65/EU, and 5. the obligations arising from a) Articles 4, 16 and 20 of Regulation (EU) No 596/2014, including in conjunction with regulatory technical standards adopted under those Articles, b) Articles 3 to 15, 17, 18, 20 to 23, 25, 27, 31 and 39a of Regulation (EU) No 600/2014, including in conjunction with regulatory technical standards adopted under those Articles, c) Delegated Regulation (EU) 2017/565, d) Delegated Regulation (EU) 2017/567, e) section 29(2) in conjunction with Article 4(1), first subparagraph, and Article 5a(1) of Regulation (EC) No 1060/2009, f) Articles 3 to 13 of Regulation (EU) 2019/2088, g) Articles 5 to 7 of Regulation (EU) 2020/852, as amended, carry out examinations, even without any particular occasion, at investment services undertakings, undertakings connected with them, branches within the meaning of section 53b of the Banking Act or section 73 of the Securities Institutions Act, undertakings with which an outsourcing agreement within the meaning of section 25b of the Banking Act or section 40 of the Securities Institutions Act exists or has existed, and other third persons or undertakings engaged to carry out the activity.
(2) The Bundesanstalt may, in order to supervise compliance with the obligations regulated in this Part, also require information and the submission of documents from undertakings having their seat in a third country that provide investment services to clients having their habitual residence or management in Germany, unless the investment service, including the ancillary investment services connected with it, is provided exclusively in a third country.
(2a) The Bundesanstalt may also issue orders that are suitable and necessary to ensure, in an individual case, the orderliness of the activity under this Act, in particular compliance with the obligations under this Act, directly against 1. undertakings with which an outsourcing agreement within the meaning of section 25b of the Banking Act or section 40 of the Securities Institutions Act exists or has existed, and 2. other third persons or undertakings engaged to carry out the activity.
(3) An objection and an action for rescission against measures under subsections (1) to (2a) have no suspensive effect.
(4) The Bundesanstalt may draw up guidelines according to which it assesses, as a general rule, in accordance with Directive 2014/65/EU and Delegated Directive (EU) 2017/593, whether the requirements of this Part are satisfied. The Deutsche Bundesbank and the umbrella associations of the business circles concerned are to be consulted before the guidelines are adopted. The guidelines are to be published in the Federal Gazette.