(7) principperne om gensidig anerkendelse og hjemlandstilsyn forudsætter, at de kompetente myndigheder i hver medlemsstat undlader at meddele tilladelse eller inddrager denne i de tilfælde, hvor det af sådanne forhold som driftsplanen, den geografiske placering eller de faktiske transaktioner klart fremgår, at den finansielle virksomhed udelukkende har valgt den pågældende medlemsstats retssystem for at unddrage sig de strengere bestemmelser, der gælder i den medlemsstat, hvor det agter at drive eller allerede driver størstedelen af sin virksomhed; en finansiel virksomhed, som er en juridisk person, skal meddeles tilladelse i den medlemsstat, hvor dens vedtægtsmæssige hjemsted ligger; en finansiel virksomhed, som ikke er en juridisk person, skal have hovedkontor i den medlemsstat, hvor den er meddelt tilladelse; medlemsstaterne skal i øvrigt altid kræve, at en finansiel virksomheds hovedkontor ligger i den medlemsstat, som er virksomhedens hjemland, og at den rent faktisk driver forretning i det pågældende land;
(7) Whereas the principles of mutual recognition and of home Member State supervision require that Member States' competent authorities should not grant or should withdraw authorization where factors such as the content of programmes of operations, the geographical distribution of the activities actually carried on indicate clearly that a financial undertaking has opted for the legal system of one Member State for the purpose of evading the stricter standards in force in another Member State within whose territory it carries on or intends to carry on the greater part of its activities; whereas a financial undertaking which is a legal person must be authorized in the Member State in which it has its registered office; whereas a financial undertaking which is not a legal person must have its head office in the Member State in which it has been authorized; whereas, in addition, Member States must require that a financial undertaking's head office always be situated in its home Member State and that it actually operates there;