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5. For the purposes of Article 47(2) of MiFIR, cooperation arrangements must specify, at least, the following—
(a)a mechanism for the exchange of information between the FCA and the EEA regulator for an EEA state, including access to all information regarding the non-United Kingdom firms authorised in that EEA state that is requested by the FCA;
(b)a mechanism for prompt notification to the FCA where the EEA regulator considers that a firm that it is supervising, and that the FCA has registered in the register provided for in Article 48 of MiFIR, has infringed or is infringing the conditions of its authorisation or any other law to which it is obliged to adhere; and
(c)procedures concerning the coordination of supervisory activities including, where appropriate, on-site inspections.
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