S.L. 370.15 Art. 16Supervisory measures.

(1) The competent authority shall require an investment firm to take the necessary measures at an early stage to address relevant problems in circumstances where:

(a) the investment firm does not meet the requirements of the Act, regulations or Investment Services Rules issued thereunder, transposing the requirements of the CRD or of the CRR;

(b) the competent authority has evidence that the investment firm is likely to breach the Act, regulations or Investment Services Rules issued thereunder, or the provisions of the CRR, within the following twelve months.

(2) For the purposes of sub-regulation (1), the powers of the competent authority shall include those contained in Schedule III.