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    EU Issues Correction for Prudential Requirements for Investment Firms

    January 24, 2020

    EU published, in the Official Journal of the European Union, a corrigendum to the Regulation 2019/2033 on the prudential requirements of investment firms. Regulation 2019/2033 amends the Capital Requirements Regulation (CRR or Regulation 575/2013), the Markets in Financial Instruments Regulation (MiFIR or Regulation 600/2014), the Single Resolution Mechanism Regulation (SRMR or Regulation 806/2014), and Regulation 1093/2010.

    The corrigendum mentions corrections to paragraph 7 of Article 63(4)(e) and paragraph 8 of Article 63(4)(f). It is mentioned in the Regulation 2019/2033 that ESMA, in consultation with EBA, shall develop draft regulatory technical standards to specify the information that the applicant third‐country firm is to provide in the application for registration referred to in paragraph 4 and the information to be reported in accordance with paragraph 6a. Additionally, ESMA shall develop draft implementing technical standards to specify the format in which the application for registration referred to in paragraph 4 is to be submitted and the information referred to in paragraph 6a is to be reported. The corrigendum states that ESMA shall submit those draft regulatory and implementing technical standards to EC by September 26, 2020, instead of by September 26, 2021.


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    Keywords: Europe, EU, Banking, Securities, Investment Firms, Regulation 2019/2033, Reporting, CRR/CRD, Disclosure, Corrigendum, European Council, European Parliament

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