Verification of information about undertakings in other state parties

(1) On request of a competent authority or body of a state party, the Bundesanstalt carries out a verification, in accordance with subsection (2), of information about securities institutions, investment holding companies, mixed financial holding companies, financial institutions, providers of ancillary services, mixed undertakings or subsidiary undertakings, including subsidiary undertakings that are insurance undertakings.
(2) On receipt of a request under subsection (1), the Bundesanstalt 1. carries out the verification itself within the scope of its powers; 2. carries out the examination on request of the competent authority, with that authority's involvement; or 3. engages a public accountant or expert to carry out an examination and report promptly to the Bundesanstalt on the results.
(3) The requesting competent authorities are permitted to take part in the verification under subsection (2), no. 1 or the examination under subsection (2), no. 3. The Bundesanstalt may refuse a measure under subsection (2), no. 1 or 3, or participation by the requesting competent authority under subsection (2), no. 2, where 1. this could impair the sovereignty, security or public order of the Federal Republic of Germany; or 2. court proceedings have already been brought against the persons concerned, or a final decision has already been made, on the basis of the same set of facts.
(4) Where the Bundesanstalt does not comply with a request of a competent authority of a state party, it informs the requesting authority of this without delay, stating the reasons; in the case of a refusal under subsection (3), no. 2, precise information on the court proceedings or the final decision must be transmitted.