S.L. 370.25 Art. 3Supervisory powersandpowers to impose penalties.

The competent authority shall exercise its supervisory powers and its powers to impose penalties, in such a way as to ensure full and complete adherence to the requirements and obligations arising out of the CRD and out of the CRR, either directly or in collaboration with European regulatory authorities and with overseas regulatory authorities, in terms of law and as warranted by the relevant circumstances.