Assessment of supervision in a third country and other supervisory techniques

(1) Where a securities institution, or several securities institutions that are subsidiary undertakings of the same parent undertaking having its seat in a third country, are not subject to effective supervision at group level, the Bundesanstalt, where it is the competent authority under subsection (2), second sentence, examines whether the supervision of the securities institution by the competent authority of the third country is equivalent to supervision under Directive (EU) 2019/2034 and Part 1 of Regulation (EU) 2019/2033.
(2) The Bundesanstalt applies appropriate supervisory means by which the objectives of supervision under Article 7 or 8 of Regulation (EU) 2019/2033 can be achieved, where supervision by the competent authority of the third country is not equivalent and the Bundesanstalt is, in that case, the competent authority. The Bundesanstalt is the competent authority where it would be competent for group supervision if the parent undertaking had its seat in the European Union. The Bundesanstalt communicates all measures taken under this subsection to the other respective competent bodies, the European Banking Authority and the European Commission.
(3) Where the Bundesanstalt is the competent authority within the meaning of subsection (2), second sentence, it may in particular require the establishment of an investment holding company or a mixed financial holding company in the European Union, and apply Article 7 or 8 of Regulation (EU) 2019/2033 to that investment holding company or mixed financial holding company.