Cooperation within the European System of Financial Supervision

Within the framework of the European System of Financial Supervision, the Bundesanstalt and the Deutsche Bundesbank cooperate, in the supervision of securities institutions, investment holding companies or mixed financial holding companies under this Act and Regulation (EU) 2019/2033, with other competent authorities and other competent bodies, and exchange information. Other competent bodies are 1. the European Banking Authority, 2. the European Securities and Markets Authority, 3. the European Systemic Risk Board, and 4. the European Commission. The Bundesanstalt and the Deutsche Bundesbank participate, in particular, in the activities of the European Banking Authority and, where applicable, in the supervisory colleges referred to in Articles 44 and 116 of Directive 2013/36/EU, insofar as necessary. The Bundesanstalt reports to the European Commission, in particular, general difficulties encountered by securities institutions in establishing branches, founding subsidiary undertakings, and carrying on business under section 2(2) in a third country.