Supervised entities must comply with the requirements of the supervisory state ordinances and related regulations on an ongoing basis. The CBA is entrusted with supervising compliance.
Authority to request information
For the execution of its supervisory task, the CBA is empowered to request information from any party. The CBA makes use of, inter alia, written information requests, on-site examinations, meetings with management and other key personal. Supervised entities are obliged to comply with the CBA's information request within a reasonable term.
Duty of confidentiality
The CBA must ensure the confidentiality of the data or information from supervised entities. The CBA is prohibited to use data or information in any further or other way than is required for the performance of its duties or pursuant to the relevant supervisory state ordinance. In this respect, the CBA is allowed or obligated, under specific circumstances, to exchange information with other (supervisory) authorities at both national and international level.