Article 98
1. The competent authorities shall be given all supervisory and investigatory powers that are necessary for the exercise of their functions. Such powers shall be exercised:
(a) |
directly; |
(b) |
in collaboration with other authorities; |
(c) |
under the responsibility of the competent authorities, by delegation to entities to which tasks have been delegated; or |
(d) |
by application to the competent judicial authorities. |
2. Under paragraph 1, competent authorities shall have the power, at least, to:
(a) |
access any document in any form and receive a copy thereof; |
(b) |
require any person to provide information and, if necessary, to summon and question a person with a view to obtaining information; |
(c) |
carry out on-site inspections; |
(d) |
require existing telephone and existing data traffic records; |
(e) |
require the cessation of any practice that is contrary to the provisions adopted in the implementation of this Directive; |
(f) |
request the freezing or the sequestration of assets; |
(g) |
request the temporary prohibition of professional activity; |
(h) |
require authorised investment companies, management companies or depositaries to provide information; |
(i) |
adopt any type of measure to ensure that investment companies, management companies or depositaries continue to comply with the requirements of this Directive; |
(j) |
require the suspension of the issue, repurchase or redemption of units in the interest of the unit-holders or of the public; |
(k) |
withdraw the authorisation granted to a UCITS, a management company or a depositary; |
(l) |
refer matters for criminal prosecution; and |
(m) |
allow auditors or experts to carry out verifications or investigations. |