(16)It is appropriate to extend mutual recognition to the activities listed in Annex I when they are carried on by financial institutions which are subsidiaries of credit institutions, provided that such subsidiaries are covered by the consolidated supervision of their parent undertakings and meet certain strict conditions.
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New version applies from 21/03/2008 — introduced by Directive 2008/24/EC.
74 provisions change.
Later versions: 17/08/2009, 30/10/2009, 07/12/2009, 30/03/2010, 04/01/2011, 09/12/2011, 01/07/2013, 01/01/2014.
Recital 16 changes in this version: compare with the current text.