4.7 Granting, amending and withdrawing the authorisation

To assess whether the investment firm group can maintain its group capital test permission granted in accordance with Article 8(1) of Regulation (EU) 2019/2033, or its lower amount permission granted in accordance with Article 8(4) of that regulation, competent authorities should assess information provided by the Union parent investment firm, Union parent investment holding company or Union parent mixed financial holding company or any other relevant parent undertaking on any material change occurring after such permission has been granted, in particular where such a change may affect compliance with the conditions and specifications on the basis of which the permission has been granted.

To assess whether the investment firm group can maintain its group capital test permission granted in accordance with Article 8(1) of Regulation (EU) 2019/2033, or its lower amount permission granted in accordance with Article 8(4) of that regulation, competent authorities should endeavour to obtain from the Union parent investment firm, the Union parent investment holding company, the Union parent mixed financial holding company or any other relevant parent undertaking any information relevant for the purpose of the se authorities’ monitoring of whether the conditions under which permissions have been granted are maintained.

Where a competent authority concludes that the conditions under which a group capital test or lower amount permission has been granted are no longer met, it should consider, without undue delay and after having heard the views of the Union parent investment firm, the Union parent financial holding company or the Union parent mixed financial holding company, whether such permission should be revoked. If the group capital test permission is revoked, any related lower amount permission granted should also be revoked and the group should be subject to consolidated supervision under Article 7 of Regulation (EU) 2019/2033.

If the Union parent investment firm, the Union parent investment holding company or the Union parent mixed financial holding company has been granted a group capital test permission and a distinct lower amount permission, revoking the latter should not automatically result in the revocation of the former, while the revocation of the former should always result in the revocation of the latter.