Commission Implementing Regulation (EU) 2022/389 of 8 March 2022 laying down implementing technical standards for the application of Directive (EU) 2019/2034 of the European Parliament and of the Council with regard to the format, structure, content lists and annual publication date of the information to be disclosed by competent authorities (Text with EEA relevance)
Date: 2022-03-08
Institutions: Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Subjects: application of EU law, disclosure of information, financial legislation, financial supervision, investment company, single market, technical standard




L_2022079EN.01000401.xml










9.3.2022   


EN


Official Journal of the European Union


L 79/4








            COMMISSION IMPLEMENTING REGULATION (EU) 2022/389
of 8 March 2022
         
laying down implementing technical standards for the application of Directive (EU) 2019/2034 of the European Parliament and of the Council with regard to the format, structure, content lists and annual publication date of the information to be disclosed by competent authorities
(Text with EEA relevance)


THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,


Having regard to Directive (EU) 2019/2034 of the European Parliament and of the Council of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU (1), and in particular Article 57(4) thereof,

Whereas:







(1)


Directive (EU) 2019/2034 requires competent authorities to disclose certain information in order for the internal investment firms’ market to operate with increasing effectiveness and to ensure adequate levels of transparency for the general public. Pursuant to that Directive, the information disclosed is to be sufficiently comprehensive and accurate to enable a meaningful comparison of the approaches adopted by Member States’ competent authorities.












(2)


To further facilitate that comparison, information from the competent authorities is to be published in a common format, updated regularly and made accessible at a single electronic location. It is therefore necessary to determine the format, structure, content lists and annual publication date of that information. While the supervisory disclosure requirements set out in Title V of Directive (EU) 2019/2034 extend across the field of prudential regulation, it is necessary to first focus on the supervisory responsibilities stemming from that Directive and from Regulation (EU) 2019/2033 of the European Parliament and of the Council (2).












(3)


This Regulation is based on the draft implementing technical standards submitted to the Commission by the European Banking Authority after having consulted the European Securities and Markets Authority.












(4)


The European Banking Authority has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits, and requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council (3),





HAS ADOPTED THIS REGULATION:



Article 1

Laws, regulations, administrative rules and general guidance

When publishing information on texts of laws, regulations, administrative rules and general guidance adopted in their Member State in the field of prudential regulation pursuant to Article 57(1), point (a), of Directive (EU) 2019/2034, competent authorities shall use the applicable forms set out in Annex I to this Regulation.


Article 2

Options and discretions

When publishing information on the manner of exercising the options and discretions available pursuant to Article 57(1), point (b), of Directive (EU) 2019/2034, competent authorities shall use the applicable forms set out in Annex II to this Regulation.


Article 3

General criteria and methodologies for supervisory review and evaluation process

When publishing information on the general criteria and methodologies, competent authorities use in the supervisory review and evaluation referred to in Article 36 of Directive (EU) 2019/2034 pursuant to Article 57(1), point (c), of that Directive, competent authorities shall use the form set out in Annex III to this Regulation.


Article 4

Aggregated statistical data

When publishing information on aggregated statistical data on key aspects of the implementation of the prudential framework pursuant to Article 57(1), point (d), of Directive (EU) 2019/2034, competent authorities shall use the forms set out in Annex IV to this Regulation.


Article 5

Annual publication date


1.   Competent authorities shall publish the information referred to in Article 57(1) of Directive (EU) 2019/2034 at a single electronic location for the first time by 30 June 2022.


2.   Competent authorities shall update the information referred to in Article 57(1), point (d), of Directive (EU) 2019/2034 by 30 June each year based on the supervisory reporting information as at 31 December of the preceding year.


3.   Competent authorities shall update the information referred to in Article 57(1), points (a), (b) and (c), of Directive (EU) 2019/2034 regularly, and no later than 30 June of each year, unless there is no change in the information published.



Article 6

Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.




This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 8 March 2022.


For the Commission


The President

Ursula VON DER LEYEN
            





(1)  
            OJ L 314, 5.12.2019, p. 64.

(2)  Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (OJ L 314, 5.12.2019, p. 1).

(3)  Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).




ANNEX I

RULES AND GUIDANCE


List of templates







PART 1


Transposition of Directive (EU) 2019/2034




PART 2


Model approval




PART 3


Specific disclosure requirements applied to investment firms




PART 4


Regulatory reporting





General remarks on filling in templates in Annex I

When publishing information on the general criteria and methodologies, competent authorities shall not disclose any supervisory measures directed at specific investment firms, whether taken with respect to a single investment firm or to a group of investment firms.

PART 1


Transposition of Directive (EU) 2019/2034











 



Transposition of provisions of Directive (EU) 2019/2034




Provisions of Directive (EU) 2019/2034




Links to national text
 (1)




Reference(s) to national provisions
 (2)




Available in EN (Y/N)





010



Date of the last update of information in these templates



 



(dd/mm/yyyy)





020








I



Subject matter, scope and definitions







Articles 1 to 3


 


 


 




030








II



Competent authorities







Articles 4 to 8


 


 


 




040








III



Initial capital







Articles 9 to 11


 


 


 




050








IV



Prudential supervision







 


 


 


 




060


CHAPTER 1 - Principles of prudential supervision


 


 


 


 




070


Section 1 - Competences and duties of home and host Member States


Articles 12 to 14


 


 


 




080


Section 2 - Professional secrecy and duty to report


Articles 15 to 17


 


 


 




090


Section 3 - Sanctions, investigatory powers and right of appeal


Articles 18 to 23


 


 


 




100


CHAPTER 2 - Review process


 


 


 


 




110


Section 1 - Internal capital adequacy assessment process and internal risk


Article 24


 


 


 




120


Section 2 - Internal governance, transparency, treatment of risks and remuneration


Articles 25 to 35


 


 


 




130


Section 3 - Supervisory review and evaluation process


Articles 36 to 37


 


 


 




140


Section 4 - Supervisory measures and powers


Articles 38 to 45


 


 


 




150


CHAPTER 3 - Supervision of investment firm groups


 


 


 


 




160


Section 1 - Supervision of investment firm groups on a consolidated basis and supervision of compliance with the group capital test


Articles 46 to 50


 


 


 




170


Section 2 - Investment holding companies, mixed financial holding companies and mixed-activity holding companies


Articles 51 to 56


 


 


 




180



TITLE V - PUBLICATION BY COMPETENT AUTHORITIES



Article 57


 


 


 




190



TITLE VI - DELEGATED ACTS



Article 58


 


 


 




200



TITLE VII - AMENDMENTS TO OTHER DIRECTIVES



Articles 59 to 64


 


 


 




210



TITLE VIII - FINAL PROVISIONS



Articles 65 to 69


 


 


 





PART 2


Model approval
                   (3)








010



Date of the last update of information in this template




(dd/mm/yyyy)





 


 



Description of the approach





020



Supervisory approach for the approval of the use of alternative Internal Model Approach (IMA) to calculate minimum capital requirements for market risk





030


Minimum documentation to be provided by the investment firm applying for the use of alternative IMA



[free text]





040


Description of the assessment process conducted by the competent authority (use of self-assessment, reliance on external auditors and on-site-inspections) and main criteria of the assessment



[free text]





050


Form of the decisions taken by the competent authority and communication of the decisions to applicants



[free text]






PART 3


Specific disclosure requirements applied to investment firms










 



Directive (EU) 2019/2034




Provision




Information to be provided by the competent authority



 




010



Date of the last update of information in this template



 



(dd/mm/yyyy)





020



Article 44(a)



Competent authorities have the power to require investment firms that do not meet the conditions for qualifying as small and non-interconnected investment firms set out in Article 12(1) of Regulation (EU) 2019/2033 and investment firms referred to in Article 46(2) of Regulation (EU) 2019/2033 to publish the information referred to in Article 46 of that regulation more than once a year and to set deadlines for that publication;


Frequency and deadlines for publication applicable to investment firms



[free text]





030



Article 44(b)



Competent authorities may require investment firms that do not meet the conditions for qualifying as small and non-interconnected investment firms set out in Article 12(1) of Regulation (EU) 2019/2033 and investment firms referred to in Article 46(2) of Regulation (EU) 2019/2033 to use specific media and locations, in particular the investment firms’ websites, for publications other than the financial statements;


Types of specific media to be used by investement firms



[free text]





040



Article 44(c)



Competent authorities may require parent undertakings to publish annually, either in full or by way of references to equivalent information, a description of their legal structure and governance and organisational structure of the investment firm group in accordance with Article 26(1) of this Directive and with Article 10 of Directive 2014/65/EU.


Investment firm group parent's legal structure and governance and organisational structure



[free text]






PART 4


Regulatory reporting








010



Date of the last update of information in this template



(dd/mm/yyyy)




020



Implementation of the reporting on financial information in accordance with Commission Implementing Regulation XXX/2021





030


Are XBRL standards used for submitting the reporting to the competent authority?



[Yes/No]







(1)  Hyperlink(s) to the website containing the national text transposing the provision of Union law in question.

(2)  Detailed references to the provision of national law, such as relevant Title, Chapter, paragraph etc.

(3)  Applicable from 26 June 2026 or the date of application to credit institutions of the requirements as stated in Article 57(1) of Regulation (EU) 2019/2033.





ANNEX II

OPTIONS AND DISCRETIONS


List of templates







PART 1


Options and discretions set out in Directive (EU) 2019/2034, Regulation (EU) 2019/2033




PART 2


Number of investment firms using transitional provisions set out in Directive (EU) 2019/2034 and Regulation (EU) 2019/2033




PART 3


Variable elements of remuneration (Article 32 of Directive (EU) 2019/2034)





General remarks on filling in templates in Annex II

When publishing information on the general criteria and methodologies, the competent authorities shall not disclose any supervisory measures directed at specific investment firms, whether taken with respect to a single investment firm or to a group of investment firms.

PART 1


Options and discretions set out in Directive (EU) 2019/2034, Regulation (EU) 2019/2033
















 



Directive (EU) 2019/2034




Regulation (EU) 2019/2033




Addressee




Denomination




Description of the option or discretion




Exercised (Y/N/NA)
 (1)




National text
 (2)




Reference(s)
 (3)




Available in EN (Y/N)




Details / Comments





010


Date of the last update of information in this template



(dd/mm/yyyy)



 




020


5(1)


 


Competent authority


Application of CRD requirements


Competent authorities may decide to apply Regulation (EU) No 575/2013 to an investment firm that carries out activities specified in points 3 and 6 in Section A of Annex I of Directive 2014/65/EU where the total value of the consolidated assets of the investment firm is equal to or exceeds EUR 5 000 000 000  where conditions of Article 5(1) of Directive (EU) 2019/2034 apply.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




030


24(2)


 


Competent authority


Internal capital and liquid assets


Competent authorities may request small and non-interconnected investment firms to apply requirements for internal capital and liquid assets as provided for in Article 24 of Directive (EU) 2019/2034.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




040


36(2)


 


Competent authority


Supervisory review and evaluation


Competent authorities shall decide on a case-by-case basis whether and in which form the review and evaluation is to be carried out for small and non-interconnected investment firms.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




050


40(7)


 


Competent authority


Additional own funds requirement


Competent authorities may impose on a case-by-case basis an additional own funds requirements referred to in Article 40 of Directive (EU) 2019/2034 on small and non-interconnected investment firms.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




060


41(1)


 


Competent authority


Additional own funds requirement


Competent authorities may request investment firms which are not small and non-interconnected investment firms to have a level of own funds which would cover the potential impact of cyclical economic fluctuations.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




070


42(1)


 


Competent authority


Liquidity requirements


Competent authorities shall impose specific liquidity requirements referred to in point (k) of Article 39(2) of Directive (EU) 2019/2034 for investment firms for which liquidity requirements apply as referred to in Article 42(1) of Directive (EU) 2019/2034.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




080


46(6)


 


Competent authority


Exemption from group supervisor criteria


Competent authorities may designate a supervisor on a consolidated basis other than the one referred to in Article 46(6) of Directive (EU) 2019/2034.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




090


 


1(2)(c)


Competent authority


Application of Capital Requirements Regulation (Regulation (EU) No 575/2013) requirements


Competent authority may decide to apply Regulation (EU) No 575/2013 requirements for investment firms which carry out activities specified in points 3 and 6 in Section A of Annex I of Directive 2014/65/EU and for which the value of total consolidated assets of the investment firm or group of investment firms is equal to or exceeds EUR 15 000 000 000  in accordance with Article 1(2) of Regulation (EU) 2019/2033.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




100


 


1(5)


Competent authority


Application of Regulation (EU) No 575/2013 requirements


Competent authorities may allow Regulation (EU) No 575/2013 requirements to be applied to investment firms which carry out activities specified in points 3 and 6 in Section A of Annex I of Directive 2014/65/EU and if the investment firm is a subsidiary of a credit institution or financial holding company or a mixed financial holding company in accordance with Article 1(5) of Regulation (EU) 2019/2033.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




110


 


6(1)


Competent authority


Application of requirements on an individual basis


Competent authorities may exempt an investment firm from the application of Article 5 of Regulation (EU) 2019/2033 in respect of parts 2, 3, 4, 6 and 7, where all conditions of Article 6(1) are fulfilled.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




120


 


6(2)


Competent authority


Application of requirements on an individual basis


Competent authorities may exempt an investment firm from the application of Article 5 of Regulation (EU) 2019/2033 in respect of part 6, where all conditions of Article 6(2) are fulfilled.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




130


 


6(3)


Competent authority


Application of requirements on an individual basis


Competent authorities may exempt an investment firm from the application of Article 5 of the Regulation (EU) 2019/2033 in respect of part 5 where all conditions of Article 6(3) are fulfilled.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




140


 


7(4)


Competent authority


Application of requirements on a consolidated basis


Competent authorities may exempt the parent undertaking from requirements to comply with the obligation laid down in part 5 on the basis of their consolidated situation.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




150


 


8(1)


Competent authority


Application of requirements on a consolidated basis


Competent authorities may allow the application of Article 8 of Regulation (EU) 2019/2033 where group structures are sufficiently simple, there are no significant risks to clients or to the market from the investment firm group as a whole that would otherwise require supervision on a consolidated basis.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




160


 


8(4)


Competent authority


Application of requirements on a consolidated basis


Competent authorities may allow a parent to hold a lower amount of own funds than the amount calculated under Article 8(3) of Regulation (EU) 2019/2033, provided that this amount is not lower than the sum of the own funds requirements imposed on an individual basis on its subsidiary investment firms, financial institutions, ancillary services undertakings and tied agents, and the total amount of any contingent liabilities in favour of those entities.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




170


 


9(4)


Competent authority


Own funds


Competent authorities may allow for investment firms which are small and non-interconnected or not legal persons or joint-stock companies to use further instruments or funds as equivalent to own funds instruments


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




180


 


10(2)


Competent authority


Qualifying holdings of own funds


Competent authorities may prohibit an investment firm from having qualifying holdings as referred to in Article 10(1) of Regulation (EU) 2019/2033, where the amount of those holdings exceeds the percentages of own funds laid down in that paragraph.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




190


 


11(3)


Competent authority


Own funds


Competent authorities may require an investment firm to be subject to different own funds requirements than the ones referred to in Article 11 of the Regulation (EU) 2019/2033


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




200


 


13(2)


Competent authority


Own funds. Fixed overheads requirement


Competent authorities may adjust the amount of fixed overheads requirement as referred in Article 13(1) of Regulation (EU) 2019/2033 when it considers that there has been a material change in the activities of an investment firm.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




210


 


15(4)


Competent authority


Own funds


Competent authorities may adjust the corresponding amount of a relevant K-factor when they consider that there has been a material change in the business activity of the investment firm.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




220


 


17(2)


Competent authority


K-factors. K-AUM (assets under management)


The competent authority may replace missing historical data points by regulatory determinations based on the business projections of the investment firm submitted in accordance with Article 7 of Directive 2014/65/EU.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




230


 


18(2)


Competent authority


K-factors. K-CMH (client money held)


The competent authority may replace missing historical data points by regulatory determinations based on the business projections of the investment firm submitted in accordance with Article 7 of Directive 2014/65/EU.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




240


 


19(3)


Competent authority


K-factors. K-ASA (assets safeguarded and administered)


The competent authority may replace missing historical data points by regulatory determinations based on the business projections of the investment firm submitted in accordance with Article 7 of Directive 2014/65/EU.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




250


 


20(3)


Competent authority


K-factors. K-COH (client orders handled)


The competent authority may replace missing historical data points by regulatory determinations based on the business projections of the investment firm submitted in accordance with Article 7 of Directive 2014/65/EU.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




260


 


30(1)


Competent authority


K-factors. K-TCD


Competent authorities may change the volatility adjustment for certain types of commodities for which there are different levels of volatility in prices.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




270


 


33(4)


Competent authority


K-factors. K-DTF (daily trading flow)


The competent authority may replace missing historical data points by regulatory determinations based on the business projections of the investment firm submitted in accordance with Article 7 of Directive 2014/65/EU.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




280


 


38(2)


Competent authority


Concentration risk


Competent authorities may grant the investment firm a limited period to comply with the limit regarding to concentration risk and exposure value excess referred in Article 37 of Regulation (EU) 2019/2033.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




290


 


41(2)


Competent authority


Concentration risk


Competent authorities may fully or partially exempt exposures referred to in Article 41(2) of Regulation (EU) 2019/2033 from the application of Article 37 of Regulation (EU) 2019/2033.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 




300


 


43(1)


Competent authority


Liquidity requirements


Competent authorities may exempt small and non-interconnected investment firms from application of liquidity requirements set out in Article 43(1) of Regulation (EU) 2019/2033.


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 


 





PART 2


Number of investment firms using transitional provisions set out in Directive (EU) 2019/2034 and Regulation (EU) 2019/2033















 



Directive (EU) 2019/2034




Regulation (EU) 2019/2033




Adressee




Scope




Denomination




Description of the option or discretion




Year




Exercised (Y/N/NA)
 (4)




Number of investment firms applying the transitional provision





 



Date of the last update of information in this template




(dd/mm/yyyy)



 


 




010


 


Article 57(3)


Investment firms


Own funds


Application of lower own funds requirements


Investment firms referred to in Article 57(3) of Regulation (EU) 2019/2033 may apply lower own funds requirements for a period of 5 years from 26 June 2021.


[Year]


[Y/N/NA]


 




020


 


Article 57(4)


Investment firms


Own funds


Application of lower own funds requirements


Investment firms referred to in Article 57(4) of Regulation (EU) 2019/2033 may apply lower own funds requirements for a period of 5 years from 26 June 2021.


[Year]


[Y/N/NA]


 




030


 


Article 57(6)


Investment firms dealing on own accounts


Own funds


Application of lower own funds requirements


Investment firms which deal on own account and which are referred to in Article 57(6) of Regulation (EU) 2019/2033 may limit their own funds requirements for a period of 5 years from 26 June 2021 to at least EUR 250 000, subject to an annual increase of at least EUR 100 000 during a 5-year period.


[Year]


[Y/N/NA]


 





PART 3


Variable elements of remuneration (Article 32 of Directive (EU) 2019/2034)














 



Directive (EU) 2019/2034




Adressee




Provisions




Information to disclose




Exercised (Y/N/NA)




References




Available in EN (Y/N)




Details / Comments





010


Date of the last update of information in this template


(dd/mm/yyyy)


 




020


Article 30(2)


Member States


Member states shall describe how they ensure that investment firms set the appropriate ratios between the variable and the fixed component of the total remuneration.


[Free text/value]


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 




030


Article 32(3)


Member States or Competent Authorities


Description of any restriction on the types and designs or prohibitions of instruments that can be used for the purposes of awarding variable remuneration.


[Free text/value]


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 




040


Article 32(5)


Member States


Thresholds other than those referred to in Article 32(4) that competent authority has increased for certain investment firms.


[Value in EUR]


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 




050


Article 32(6)


Member States


Thresholds other than those referred to in Article 32(4) that competent authority has decreased for certain investment firms.


[Value in EUR]


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 




060


Article 32(7)


Member States


Description of market specificities or nature of the responsibilities and job profile of staff members who are entitled to annual variable remuneration whose annual variable remuneration does not exceed EUR 50 000  and does not represent more than one fourth of that individual’s total annual remuneration but but the individual has not been subject to the exemption set out in Article 32(4).


[Free text/value]


[Y/N/NA]


Mandatory if Y


Mandatory if Y


 










(1)


'Y' (Yes) indicates that the competent authority or Member State empowered to exercise the relevant option or discretion has exercised it.
N' (No) Indicates that the competent authority or Member State empowered to exercise the relevant option or discretion has not exercised it.
NA' (Not applicable) indicates that the exercise of the option is not possible or the discretion does not exist.










(2)


Reference to the national legislation and hyperlink(s) to the website containing the national text transposing the Union provision in question.






(1)  'Y' (Yes) indicates that the competent authority or Member State empowered to exercise the relevant option or discretion has exercised it.
N' (No) Indicates that the competent authority or Member State empowered to exercise the relevant option or discretion has not exercised it.
NA' (Not applicable) indicates that the exercise of the option is not possible or the discretion does not exist.

(2)  The text of the provision in the national legislation.

(3)  Reference to the national legislation and hyperlink(s) to the website containing the national text transposing the Union provision in question.

(4)  'Y' (Yes) indicates that the competent authority or Member State empowered to exercise the relevant option or discretion has exercised it.
N' (No) Indicates that the competent authority or Member State empowered to exercise the relevant option or discretion has not exercised it.
NA' (Not applicable) indicates that the exercise of the option is not possible or the discretion does not exist.





ANNEX III

SUPERVISORY REVIEW AND EVALUATION PROCESS (SREP)


List of templates


General remarks on filling in templates in Annex III

When publishing information on the general criteria and methodologies, competent authorities shall not disclose any supervisory measures directed at specific investment firms, whether taken with respect to a single investment firm or to a group of investment firms.

SUPERVISORY REVIEW AND EVALUATION PROCESS (SREP)
                   (1)









010


Date of the last update of information in this template



(dd/mm/yyyy)





020



Scope of application of SREP

(Article 36 of IFD)


Description of the competent authority’s approach to the scope of application of SREP including:






—


what types of investment firms are covered by/excluded from SREP.










—


a high-level overview of how the competent authority takes into account the principle of proportionality when considering the scope of SREP and frequency of assessment of various SREP elements (2).







[free text or reference or hyperlink to such guidance]





030



Assessment of SREP éléments

(Articles 36 of IFD)


Description of the competent authority’s approach to the assessment of individual SREP elements including:






—


a high-level overview of the assessment process and methodologies applied to the assessment of SREP elements, including: (i) business model analysis; (ii) assessment of internal governance and investment firm-wide controls; (iii) assessment of risks to capital; and (iv) assessment of risks to liquidity;










—


a high-level overview of how the competent authority takes into account the principle of proportionality when assessing individual SREP elements (3).







[free text or reference or hyperlink to such guidance]





040



Review and evaluation of ICAAP and ILAAP

(Articles 24 and 36 of IFD)


Description of the competent authority’s approach to the review and evaluation of the additional own funds and specific liquidity requirements as part of the SREP, and, in particular, for assessing the reliability of additional own funds and liquidity calculations for the purposes of determining additional own funds and liquidity requirements including (4):






—


an overview of the methodology applied by the competent authority to review the internal capital adequacy assessment process (ICAAP) and the internal liquidity adequacy assessment process (ILAAP) of investment firms;










—


information/reference to the competent authority requirements for submission of ICAAP and ILAAP-related information, in particular covering what information needs to be submitted;










—


information on whether an independent review of the ICAAP and the ILAAP is required from the investment firms.







[free text or reference or hyperlink to such guidance]





050



Overall SREP assessment and supervisory measures

(Articles 38 and 39 of IFD)


Description of the competent authority’s approach to the overall SREP assessment (summary) and application of supervisory measures on the basis of the overall SREP assessment (5)

Description of how SREP outcomes are linked to the application of early intervention measures according to Article 27 of Directive 2014/59/EU and determination of conditions whether the investment firm can be considered failing or likely to fail according to Article 32 of that Directive (6).



[free text or reference or hyperlink to such guidance]







(1)  Competent authorities are to disclose the criteria and methodologies used in rows 020 to 040 and in row 050 for the overall assessment, in the form of an explanatory note as per the second column.

(2)  The scope of SREP to be considered both at a level of an investment firm and in respect of its own resources. A competent authority shall explain the approach used to classify investment firm into different categories for SREP purposes, describing the use of quantitative and qualitative criteria, and how financial stability or other overall supervisory objectives are affected by such categorisation. A competent authority shall also explain how categorisation is put in practice for the purposes of ensuring at least a minimum engagement in SREP assessments, including the description of the frequencies for the assessment of all SREP elements for different categories of investment firms.

(3)  3Including working tools e.g. on-site inspections and off-site examinations, qualitative and quantitative criteria, statistical data used in the assessments. Hyperlinks to any guidance on the website to be added.

(4)  Competent authorities shall also explain how the assessment of the internal capital adequacy assessment process (ICAAP) and the internal liquidity assessment process (ILAAP) is covered by the minimum engagement models applied for proportionality purposes based on SREP categories as well as how proportionality is applied for the purposes of specifying supervisory expectations to ICAAP and ILAAP, and in particular, any guidelines or minimum requirements for the ICAAP and ILAAP the competent authorities have issued.

(5)  The approach competent authorities apply to arrive at the overall SREP assessment and its communication to the investment firms. The overall assessment by competent authorities is based on a review of all the elements referred to in row 020 to 040, along with any other relevant information about the investment firm that the competent authority may obtain.

(6)  Competent authorities may also disclose the policies that guide their decisions for taking supervisory measures (within the meaning of Article 18 of the IFD) and early intervention measures (within the meaning of Article 27 of the Bank Recovery and Resolution Directive (BRRD)) whenever their assessment of an investment firm identifies weaknesses or inadequacies that call for supervisory intervention. Such disclosures might include the publication of internal guidelines or other documents describing general supervisory practices. However, no disclosure is required regarding decisions on individual investment firms, to respect the confidentiality principle.
Furthermore, competent authorities may provide information regarding the implications if an investment firm violates relevant legal provisions or does not comply with the supervisory or early intervention measures imposed based on the SREP outcomes, e.g. it shall list enforcement procedures that are in place (where applicable).





ANNEX IV

AGGREGATE STATISTICAL DATA


List of templates







PART 1


Individual data per competent authority




PART 2


Data on market risk




PART 3


Data on supervisory measures and administrative penalties




PART 4


Data on exemptions





General remarks on filling in templates in Annex IV







1)


When publishing information on the general criteria and methodologies, competent authorities shall not disclose any supervisory measures directed at specific investment firms, whether taken with respect to a single investment firm or to a group of investment firms.










2)


Numerical cells shall include only numbers. There shall be no references to national currencies. The currency used is the euro; and non-euro area Member States shall convert their national currencies into the euro using the ECB exchange rates (at the common reference date, i.e. the last day of the year under review), with one decimal place when disclosing amounts in millions.










3)


Unit of disclosure shall be in millions of euro for the reported monetary amounts (hereafter – EUR million).










4)


Percentages shall be disclosed with two decimals.










5)


If data is not being disclosed, the reason for non-disclosure shall be provided using the EBA nomenclature, i.e. N/A (for not available) or C (for confidential).










6)


The data shall be disclosed on an aggregated basis without identifying individual investment firms.










7)


Data shall be compiled only for investment firms subject to Directive (EU) 2019/2034. Investment firms which are not subject to the Directive (EU) 2019/2034 regime are excluded from the data collection exercise.





PART 1


Individual data per Competent Authority (year 20XX)











 



Reference to reporting template




Data



 




 



Number and size of investment firms



 


 


 




010


Number of investment firms


 


[Value]




020


Total assets of all investment firms in the Member state (in MEUR) (1)



 


[Value]




 



Number and size of third country investment firms
 (2)



 


 




030


From third countries


Number of branches (3)



 


[Value]




040


Number of subsidiaries (4)



 


[Value]




 


 


 


 


 




 



Own funds composition with respect to own funds requirements



 



Data, in millions euro




Data, as percentage of total own funds requirements
 (6)%




050


Total Common Equity Tier 1 (5)



I 01.00 row 0030


[Value]


[Value]




060


Total Additional Tier 1 (5)



I 01.00 row 0300


[Value]


[Value]




070


Total Tier 2 capital (5)



I 01.00 row 0420


[Value]


[Value]




080


Total own funds (6)



I 01.00 row 0010


[Value]


[Value]




 



Total own funds requirement by type



 



Data, in millions euro




Data, as percentage of the total own funds requirements
 (6)
%





090


Data on own funds requirements


Fixed overheads requirement (7)



I 02.00 row 0030


[Value]


[Value]




100


Permanent minimum capital requirement (8)



I 02.00 row 0020


[Value]


[Value]




110


K-factor requirement (9)



I 02.00 row 0040


[Value]


[Value]




120


of which Risk-to-Client (RtC) (10)



I 04.00 row 0020


[Value]


[Value]




130


of which Risk-to-Market (RtM) (11)



I 04.00 row 0090


[Value]


[Value]




140


of which Risk-to-Firm (RtF) (12)



I 04.00 row 0120


[Value]


[Value]





PART 2


Data on market risk
                   (13)
(year 20XX)













Risk to market data




Approach




Reference to reporting template




Data



 




010



Own funds requirements for risk to market



 


 


 


 




020



Breakdown by approach



Number of investment firms using each approach with respect to the total number of investment firms (14)



K-factor net position risk approach


IF 04.00 row 0100


[Value]




030


of which standardised approach


 


[Value]




040


of which the alternative standardised approach


 


[Value]




050


of which the alternative internal model approach


 


[Value]




060


of which each of K-factor net position risk approach (15)



 


[Value]




070


K-factor Clearing Margin Given approach


IF 04.00 row 0110


[Value]




080


Both K-factors Clearing margin given and net position risk


 


[Value]




090


 


 


 



Data in millions euro




Data as percentage of the total own funds requirements
 (16)
%





100


Total own funds requirements under each approach (14)



K-factor net position risk approach


IF 04.00 row 0100


[Value]


[Value]




110


of which standardised approach


 


[Value]


[Value]




120


of which the alternative standardised approach


 


[Value]


[Value]




130


of which the alternative internal model approach (15)



 


[Value]


[Value]




140


of which each of K-factor net position risk approach (15)



 


[Value]


[Value]




150


K-factor Clearing margin given approach


IF 04.00 row 0110


[Value]


[Value]




160


Both and K-factors Clearing margin given and net position risk


 


[Value]


[Value]





PART 3


Data on supervisory measures and administrative penalties
                   (17)
(year 20XX)









 



Supervisory measures




Data





010


Supervisory measures taken in accordance with Article 38 (a)


Total number of supervisory measures taken in accordance with Article 39(2) of Directive (EU) 2019/2034


[Value]




020


to hold own funds in excess of the minimum capital requirements [Article 39(2)(a)]


[Value]




030


to reinforce governance arrangements and internal capital and liquid assets management [Article 39(2)(b)]


[Value]




040


to present a plan to restore compliance with supervisory requirements [Article 39(2)(c)]


[Value]




050


to apply a specific provisioning policy or treatment of assets [Article 39(2)(d)]


[Value]




060


to restrict/limit business or activities [Article 39(2)(e)]


[Value]




070


to reduce the risk inherent in the activities, products and systems, including outsourced activities [Article 39(2)(f)]


[Value]




080


to limit variable remuneration [Article 39(2)(g)]


[Value]




090


to strengthen own funds by using net profits [Article 39(2)(h)]


[Value]




100


to restrict/prohibit distributions or interest payments [Article 39(2)(i)]


[Value]




110


to impose additional or more frequent reporting requirements [Article 39(2)(j)]


[Value]




120


to impose specific liquidity requirements [Article 39(2)(k)]


[Value]




130


to impose additional disclosure requirements [Article 39(2)(l)]


[Value]




140


to reduce risks posed to the security of investment firms’ network and information systems [Article 39(2)(m)]


[Value]




150


Number and nature of other supervisory measures taken (not listed in Article 39(2) of Directive (EU) 2019/2034)


[Value]




160


Supervisory measures taken in accordance with Article 38(b) and other provisions of Directive (EU) 2019/2034 or Regulation (EU) 2019/2033


Total number of supervisory measures taken in accordance with Article 39(2) of Directive (EU) 2019/2034


[Value]




170


to hold own funds in excess of the minimum capital requirements [Article 39(2)(a)]


[Value]




180


to reinforce governance arrangements and internal capital and liquid assets management [Article 39(2)(b)]


[Value]




190


to present a plan to restore compliance with supervisory requirements [Article 39(2)(c)]


[Value]




200


to apply a specific provisioning policy or treatment of assets [Article 39(2)(d)]


[Value]




210


to restrict/limit business or activities [Article 39(2)(e)]


[Value]




220


to reduce the risk inherent in the activities, products and systems, including outsourced activities [Article 39(2)(f)]


[Value]




230


to limit variable remuneration [Article 39(2)(g)]


[Value]




240


to strengthen own funds by using net profits [Article 39(2)(h)]


[Value]




250


to restrict/prohibit distributions or interest payments [Article 39(2)(i)]


[Value]




260


to impose additional or more frequent reporting requirements [Article 39(2)(j)]


[Value]




270


to impose specific liquidity requirements [Article 39(2)(k)]


[Value]




280


to impose additional disclosure requirements [Article 39(2)(l)]


[Value]




290


to reduce risks posed to the security of investment firms’ network and information systems [Article 39(2)(m)]


[Value]




300


Number and nature of other supervisory measures taken (not listed in Article 39(2) of Directive (EU) 2019/2034)


[Value]















 



Administrative penalties
 (18)




Data





010


Administrative penalties (for other breaches of requirements imposed by Directive (EU) 2019/2034 or Regulation (EU) 2019/2033


Total number of administrative penalties from Article 18(2) of Directive (EU) 2019/2034 applied:


[Value]




020


public statements identifying the natural/legal person responsible and the nature of the breach [Article 18(2)(a)]


[Value]




030


orders requiring the natural/legal person responsible to cease the conduct and to desist from a repetition of that conduct [Article 18(2)(b)]


[Value]




040


temporary bans against natural person from exercising functions in investment firms [Article 18(2)(c)]


[Value]




050


administrative pecuniary penalties imposed on legal/natural person [points (d) to (f) of Article 18(2)]


[Value]




060


Number and nature of other administrative penalties applied (not specified in Article 18(2) of Directive (EU) 2019/2034)


[free text]




Competent authorities shall not disclose supervisory actions or decisions directed at specific investment firms. When publishing information on the general criteria and methodologies, competent authorities shall not disclose any supervisory measures directed at specific investment firm whether taken with respect to a single investment firm or to a group of investment firms.

PART 4


Data on exemptions
                   (19)
(year 20XX)









 



Exemption granted to investment firms




Total number of exemption granted




Art. 9





010


Exemption from the application on an individual basis of prudential requirements set out in Article 5 in respect of parts 2, 3, 4, 6 and 7 of Regulation (EU) 2019/2033 (Article 6(1) (waivers for subsidiaries) (20)



[Value]


 




020


Exemption from the application on an individual basis of prudential requirements set out in Article 5 in respect of part 6 of Regulation (EU) 2019/2033 (Article 6(2) (waivers for subsidiaries) (20)



[Value]


 




030


Exemption from the application on an individual basis of prudential requirements set out in Article 5 in respect of part 5 of Regulation (EU) 2019/2033 (Article 6(3) (liquidity waivers for subsidiaries))


[Value]


 




040


Exemption from the application on a consolidated basis of prudential requirements in respect of part 5 of Regulation (EU) 2019/2033 (Article 7(4) (prudential consolidation))


 




050


Total number of permissions granted


[Value]


 




060


Total amount of consolidated own funds held in the subsidiaries established in third countries (in EUR millions)


[Value]


 




070


Percentage of the total consolidated own funds held in subsidiaries established in third countries (%)


[Value]


 




080


Percentage of the consolidated own funds requirements allocated to subsidiaries established in third countries (%)


[Value]


 






(1)  The total assets figure shall be the sum of the asset values of all investment firms in a Member State, calculated based on applicable accounting standards, excluding any asset under management.

(2)  EEA countries shall not be included.

(3)  Number of branches as defined in point (3) of Article 3(1) of Directive (EU) 2019/2034. Any number of places of business set up in the same country by an investment firm with headquarters in a third country should be counted as a single branch.

(4)  Number of subsidiaries as defined in point (29) of Article 3(1) of Directive (EU) 2019/2034. Any subsidiary of a subsidiary undertaking shall be regarded as a subsidiary of the parent undertaking, which is at the head of those undertakings.

(5)  Capital as defined in Article 9 (1) of Regulation (EU) 2019/2033.

(6)  Total own funds requirement as defined in Article 11 of the Regulation (EU) 2019/2033.

(7)  Fixed overheads requirement as defined in point (a) of Article 11(1) of Regulation (EU) 2019/2033.

(8)  Permanent minimum capital requirement as defined in point (b) of Article 11(1) of Regulation (EU) 2019/2033.

(9)  K-factor requirement as defined in point (c) of Article 11(1) of Regulation (EU) 2019/2033.

(10)  Own funds requirements associated with Risk to Client as defined in Article 15(1)(a) of Regulation (EU) 2019/2033. Indicate total capital ratio in column ‘Data, as percentage of the total own fund requirements %’.

(11)  Own funds requirements associated with Risk to Market as defined in Article 15(1)(b) of Regulation (EU) 2019/2033.

(12)  Own funds requirements associated with Risk to Firm as defined in Article 15(1)(c) of Regulation (EU) 2019/2033.

(13)  The template shall include information on all investment firms and not only on those with positions related to K-

(14)  Some investment firm can use more than one approach, therefore the sum of items 020 to 060 may be different from the total number of investment firms calculating the K-factor net position risk.

(15)  When investment firms use more than one K-factor net position risk approach: standardised approach, the alternative standardised approach, the alternative internal model approach.

(16)  Own funds requirements as referred to in Article 9 of Regulation (EU) 2019/2033.

(17)  Information shall be reported based on the date of decision. Due to differences in national regulations as well as in supervisory practices and approaches across the competent authorities, the figures provided in this table might not allow for a meaningful comparison between jurisdictions. Any conclusions without carefully considering these differences can be misleading.

(18)  The administrative penalties imposed by competent authorities. Competent authorities shall report all administrative penalties against which there is no appeal available in their jurisdiction by the reference date of the disclosure. Competent authorities of Member States where it is permitted to publish administrative penalties subject to an appeal, shall also report those administrative penalties unless the appeal annulling the administrative penalty is issued.

(19)  Competent authorities shall report information on exemptions practices based on the total number of exemptions by the competent authority, which are still effective or in force. The information to be reported is limited to those entities granted an exemption. Where the information is not available, i.e. not part of the regular reporting, it shall be reported as ‘N/A’.

(20)  The number of investment firms which have been granted the exemption shall be used as a basis for counting the exemptions.