Credit institutions / insurance undertakings / investment firms authorised in an EEA Member State are in principle already authorised on the basis of their authorisation/licence in their Home State to also provide banking operations in other Member States (single licence principle). Cross-border activities may either be conducted through a branch (freedom of establishment) or under the freedom to provide services. The intention to conduct activities on a cross-border basis either under the right of establishment or the freedom to provide services, must be notified by the credit institution / insurance undertaking / investment firm to the respective supervisory authority.
German: EU-Pass für Kreditinstitute, Versicherungen und Wertpapierfirmen (315)
Source: FMA AT m. e. E., 30.10.2018
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