CHAPTER IIORGANISATIONAL REQUIREMENTS

SECTION 3Safeguarding of client assets

Article 20(Article 13(7) and (8) of Directive 2004/39/EC)Reports by external auditors

Member States shall require investment firms to ensure that their external auditors report at least annually to the competent authority of the home Member State of the firm on the adequacy of the firm's arrangements under Articles 13(7) and (8) of Directive 2004/39/EC and this Section.