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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.

Term-Nr.: 642

German: EU-Pass für Kreditinstitute, Versicherungen und Wertpapierfirmen (315)

Source: FMA AT m. e. E., 30.10.2018

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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