CHAPTER 2

Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (Text with EEA relevance) · European Union

In accordance with Article 28 of Regulation (EU) No 1095/2010, a competent authority may delegate its tasks under this Regulation to the competent authority of another Member State with its prior consent. The competent authorities shall notify ESMA of any proposed delegation 60 days prior to such delegation taking effect. A competent authority may delegate some of its tasks under this Regulation to ESMA, subject to the agreement of ESMA. ESMA shall notify the Member States of a proposed delegation within seven days. ESMA shall publish details of any agreed delegation within five working days of notification. A competent authority may disclose information received from another competent authority only if: it has obtained the written agreement of that competent authority and the information is disclosed only for the purposes for which that competent authority gave its agreement; or such disclosure is necessary for legal proceedings. A competent authority may request the assistance of another competent authority with regard to on-site inspections or investigations. The competent authority receiving the request shall cooperate to the extent possible and appropriate. A competent authority making a request referred to in paragraph 1 shall inform ESMA thereof. In the event of an investigation or inspection with cross-border effect, the competent authorities may request ESMA to coordinate the on-site inspection or investigation. Where a competent authority receives a request from another competent authority to carry out an on-site inspection or an investigation, it may: carry out the on-site inspection or investigation itself; allow the competent authority which submitted the request to participate in the on-site inspection or investigation; appoint auditors or experts to support or carry out the on-site inspection or investigation.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.