Directive (EU) 2019/2034 of the European Parliament and of the Council of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU (Text with EEA relevance) (c. 2034)

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TITLE IV U.K. PRUDENTIAL SUPERVISION

CHAPTER 1 U.K. Principles of prudential supervision

Section 2 U.K. Professional secrecy and duty to report

Article 17 U.K. Duties of persons responsible for the control of annual and consolidated accounts

Member States shall provide that any person who is authorised in accordance with Directive 2006/43/EC of the European Parliament and of the Council(1) and who performs in an investment firm the tasks described in Article 73 of Directive 2009/65/EC or in Article 34 of Directive 2013/34/EU, or any other statutory task, has a duty to report promptly to the competent authorities any fact or decision concerning that investment firm, or concerning an undertaking that has close links with that investment firm which:

(a)

constitutes a material breach of the laws, regulations or administrative provisions laid down pursuant to this Directive;

(b)

may affect the continuous functioning of the investment firm; or

(c)

may lead to a refusal to certify the accounts or can lead to the expression of reservations.

(1)

Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts, amending Council Directives 78/660/EEC and 83/349/EEC and repealing Council Directive 84/253/EEC (OJ L 157, 9.6.2006, p. 87).