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    EC Issues Regulation on Reporting and Disclosures of Investment Firms

    December 22, 2021

    The European Commission (EC) published Regulation 2021/2284, which lays down the implementing technical standards on supervisory reporting and disclosures for application of the Investment Firms Regulation or IFR (2019/2033). Regulation 2021/2284 sets out provisions for the reporting reference and remittance dates, application of reporting requirements on individual and consolidation basis, format and frequency of reporting by investment firms, disclosure principles, and disclosure of own funds by investment firms. Annexes to Regulation 2021/2284 provide the reporting and disclosure templates, along with the associated instructions. Regulation 2021/2284 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

    Quarterly reporting of information referred to in Article 54(1) of IFR shall be done as this information stands on March 31, June 30, September 30, and December 31 reference dates. Annual reporting of information referred to in Article 54(1) of IFR shall be done as this information stands on December 31 reference date. Investment firms other than small and non-interconnected investment firms shall report the information required by paragraphs 1 and 2 of Article 54 of IFR by using the templates laid down in Annex I to Regulation 2021/2284, in accordance with the instructions set out in Annex II to the Regulation with a quarterly frequency. Small and non-interconnected investment firms shall report the information specified in the templates of Annex III in accordance with the instructions of Annex IV to the Regulation 2021/2284 with an annual frequency.

    Entities referred to in Article 8(3) of IFR that are benefitting from the application of that Article shall report the information set out in the templates of Annex VIII in accordance with the instructions set out in Annex IX to the Regulation 2021/2284 with a quarterly frequency. Investment firms shall submit the information referred to in Regulation 2021/2284 in the data exchange formats and representations specified by competent authorities and respecting the data point definition of the data point model and the validation formulae specified in Annex V as well as the certain specifications mentioned in Article 8 of Regulation 2021/2284. Investment firms shall make the disclosures on own funds required by Article 49(1) of IFR by using the templates of Annex VI and in accordance with the relevant instructions set out in Annex VII to Regulation 2021/2284.

     

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    Effective Date: January 11, 2022

    Keywords: Europe, EU, Banking, Investment Firms, IFR, Reporting, Disclosures, CRR, Basel, Own Funds, Regulatory Capital, EC

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