Article 125

Capital Requirements Directive (CRD) > TITLE VII > CHAPTER 3 > Section II > Article 125
Article 125
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1.    Where an institution, financial holding company, mixed financial holding company or a mixed-activity holding company controls one or more subsidiaries which are insurance companies or other undertakings providing investment services which  are subject to authorisation, the competent authorities and the authorities  entrusted  with  the  public task of supervising insurance undertakings or those other undertakings providing investment services shall cooperate closely. Without prejudice to their respective responsibilities, those authorities shall provide one another with any information likely to simplify their task and to allow supervision of the activity and overall financial situation of the under­ takings they supervise.

Where, pursuant to Article 111 of this Directive, the consolidating supervisor of a group with a parent mixed financial holding company is different from the coordinator determined  in  accordance with Article 10 of Directive 2002/87/EC, the consolidating supervisor and the coordinator shall cooperate for the purpose of applying this Directive  and  Regulation  (EU)  No  575/2013  on  a   consolidated basis. In order to facilitate and establish effective cooperation, the consolidating supervisor and the coordinator shall have written coor­ dination and cooperation arrangements in place.

2.    Information received, within the framework of supervision on a consolidated basis, and in particular any exchange of information between competent authorities which is provided for in this Directive, shall be subject to professional secrecy requirements at least equivalent to those referred to in Article 53(1) of this Directive for credit insti­ tutions or under Directive 2004/39/EC for investment firms.

3.    The competent authorities responsible for supervision on a consolidated basis shall establish lists of the financial holding companies or  mixed  financial  holding  companies  referred  to  in Article 11 of Regulation (EU) No 575/2013. Those lists shall be communicated to the competent authorities of the other Member States, to EBA and to the Commission.