2.

The Commission may adopt implementing acts declaring that the legal, supervisory and enforcement arrangements of a third country: are equivalent to the requirements laid down in this Regulation under Articles 4, 9, 10 and 11; ensure protection of professional secrecy that is equivalent to that set out in this Regulation; and are being effectively applied and enforced in an equitable and non-distortive manner so as to ensure effective supervision and enforcement in that third country. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 86(2).

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Source: EUR-Lex (Cellar) · retrieved 2026-09-25 · Text as adopted (Official Journal); later amendments are not incorporated in this text.