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| European Union - Financial Conglomerates Directive Article 16 Enforcement measures If the regulated entities in a financial conglomerate do not comply with the requirements referred to in Articles 6 to 9 or where the requirements are met but solvency may nevertheless be jeopardised or where the intra-group transactions or the risk concentrations are a threat to the regulated entities' financial position, the necessary measures shall be required in order to rectify the situation as soon as possible: — by the coordinator with respect to the mixed financial holding company, — by the competent authorities with respect to the regulated entities; to that end, the coordinator shall inform those competent authorities of its findings. Without prejudice to Article 17(2), Member States may determine what measures may be taken by their competent authorities with respect to mixed financial holding companies. The competent authorities involved, including the coordinator, shall where appropriate coordinate their supervisory actions. |
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