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Regulation (EU) 2019/2033 of the European Parliament and of the CouncilShow full title
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 (Text with EEA relevance)
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Article 55U.K.Reporting requirements for certain investment firms, including for the purposes of the thresholds referred to in Article 1(2) of this Regulation and in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013
1.Investment firms which carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU shall verify the value of their total assets on a monthly basis and shall report quarterly that information to the competent authority if the total value of the consolidated assets of the investment firm is equal to or exceeds EUR 5 billion, calculated as an average of the previous 12 months. The competent authority shall inform EBA thereof.
2.Where an investment firm referred to in paragraph 1 is part of a group in which one or more other undertakings is an investment firm which carries out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU, all such investment firms in the group shall verify the value of their total assets on a monthly basis if the total value of the consolidated assets of the group is equal to or exceeds EUR 5 billion, calculated as an average of the previous 12 months. Such investment firms shall inform each other of their total assets on a monthly basis and report their consolidated total assets to the relevant competent authorities on a quarterly basis. The competent authorities shall inform EBA thereof.
3.Where the average of monthly total assets of the investment firms referred to in paragraphs 1 and 2 reaches any of the thresholds set out in Article 1(2) of this Regulation or in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013, calculated as an average of the previous 12 months, EBA shall notify those investment firms and the competent authorities, including the authorities competent for granting authorisation in accordance with Article 8a of Directive 2013/36/EU thereof.
4.Where a review pursuant to Article 36 of Directive (EU) 2019/2034 shows that an investment firm referred to in paragraph 1 of this Article may pose a systemic risk as referred to in Article 23 of Regulation (EU) No 1093/2010, competent authorities shall inform EBA of the results of that review without delay.
5.EBA, in consultation with ESMA, shall develop draft regulatory technical standards to specify further the obligation to provide information to the relevant competent authorities referred to in paragraphs 1 and 2 in order to allow effective monitoring of the thresholds set out in points (a) and (b) of Article 8a(1) of Directive 2013/36/EU.
EBA shall submit those draft regulatory technical standards to the Commission by 26 December 2020.
Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in this paragraph, in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
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