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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 26 June 2021 - onwards
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Article 6 Exemptions

1. Competent authorities may exempt an investment firm from the application of Article 5 in respect of Parts Two, Three, Four, Six and Seven, where all of the following conditions apply:

(a) the investment firm meets the conditions for qualifying as a small and non-interconnected investment firm set out in Article 12(1);

(b) one of the following conditions is satisfied:

(i) the investment firm is a subsidiary and is included in the supervision on a consolidated basis of a credit institution, a financial holding company or a mixed financial holding company, in accordance with the provisions of Chapter 2 of Title II of Part One of Regulation (EU) No 575/2013;

(ii) the investment firm is a subsidiary and is included in an investment firm group supervised on a consolidated basis in accordance with Article 7;

(c) both the investment firm and its parent undertaking are subject to authorisation and supervision by the same Member State;

(d) the authorities competent for the supervision on a co

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