(1) A competent authority of another Member State may request the cooperation of the Bank in a supervisory activity or for an on-the-spot verification or in an investigation.

(2) If the supervisory activity, verification or investigation relates to investment firms that are remote members or participants of a regulated market authorised by the Bank, the Bank -

(a) may choose to address the members or participants directly, and

(b) if it so chooses, shall inform the competent authority of the home Member State of the investment firm accordingly.

(3) Where the Bank receives a request with respect to an on-the-spot verification or an investigation, the Bank shall -

(a) carry out the verification or investigation itself,

(b) allow the requesting authority to carry out the verification or investigation, or

(c) allow auditors or experts to carry out the verification or investigation.