Pending further coordination of sectoral rules, Member States shall provide for the inclusion of asset management companies:
(a) within the scope of consolidated supervision of credit institutions and investment firms, or in the scope of supplementary supervision of insurance undertakings in an insurance group;
(b) where the group is a financial conglomerate, in the scope of supplementary supervision within the meaning of this Directive; and
(c) within the identification process in accordance with Article 3(2).
For the application of the first paragraph, Member States shall provide, or give their competent authorities the power to decide, according to which sectoral rules (banking sector, insurance sector or investment services sector) asset management companies shall be included in the consolidated and/or supplementary supervision referred to in (a) of the first paragraph. For the purposes of this provision, the relevant sectoral rules regarding the form and extent of the inclusion of
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