1.Investment firms shall monitor and control their concentration risk in accordance with this Part by means of sound administrative and accounting procedures and robust internal control mechanisms.
2.For the purposes of this Part, the terms ‘credit institution’ and ‘investment firm’ include private or public undertakings, including the branches of such undertakings, provided that those undertakings, if they were established in the Union, would be credit institutions or investment firms as defined in this Regulation, and provided that those undertakings have been authorised in a third country that applies prudential supervisory and regulatory requirements at least equivalent to those applied in the Union.