In Order to Operate in Other Member States, the EU's

In order to operate in other member states, the EU's Investment Securities Directive (ISD) requires that firms satisfy several conditions. Which of a) through d) is NOT one of those conditions?

A) The firm's directors must be sufficiently experienced.
B) The firm must appropriately safeguard their clients' funds.
C) The firm must follow International Accounting Standards.
D) The firm must meet the EU's capital adequacy requirements.
E) All of the above are conditions of the ISD