S.L. 403.17 Art. 4Level of application with regard to mixed financial holding companies.

(1) Where a mixed financial holding company is subject to equivalent provisions under the Solvency II Directive and under

Directive 2002/87/EC, in particular in terms of risk-based supervision, and where the competent authority is the group supervisor of the group, the authority may, after consulting other European regulatory authorities concerned, apply only the relevant provisions of Directive 2002/87/EC to that mixed financial holding company.

(2) Where a mixed financial holding company is subject to equivalent provisions under the Solvency II Directive and under Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, in particular in terms of risk-based supervision, and where the competent authority is the group supervisor of the group, the authority may, in agreement with the consolidating supervisor in the banking and investment services sector, apply only the provisions of the Directive relating to the most significant sector as determined in accordance with Article 3(2) of Directive 2002/87/EC.

(3) Where the competent authority is the group supervisor of the group, it shall inform the European Banking Authority, established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010, and EIOPA, of the decisions taken under sub-regulations (1) and (2).