Article 98

The competent authorities shall be given all supervisory and investigatory powers that are necessary for the exercise of their functions. Such powers shall be exercised: directly; in collaboration with other authorities; under the responsibility of the competent authorities, by delegation to entities to which tasks have been delegated; or by application to the competent judicial authorities. Under paragraph 1, competent authorities shall have the power, at least, to: access any document in any form and receive a copy thereof; require any person to provide information and, if necessary, to summon and question a person with a view to obtaining information; carry out on-site inspections; require existing telephone and existing data traffic records; require the cessation of any practice that is contrary to the provisions adopted in the implementation of this Directive; request the freezing or the sequestration of assets; request the temporary prohibition of professional activity; require authorised investment companies, management companies or depositaries to provide information; adopt any type of measure to ensure that investment companies, management companies or depositaries continue to comply with the requirements of this Directive; require the suspension of the issue, repurchase or redemption of units in the interest of the unit-holders or of the public; withdraw the authorisation granted to a UCITS, a management company or a depositary; refer matters for criminal prosecution; and allow auditors or experts to carry out verifications or investigations.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.