DNB Consults on Application of Investment Firms Regime
DNB, the central bank of Netherlands, is consulting on the Supervisor Regulation IFR, which clarifies the application of the Investment Firms Regulation (IFR) for entities that have license as managers of investment institutions and as the Undertakings for Collective Investment in Transferable Securities (UCITS). This is in preparation for the entry into force of the Investment Firms Directive (IFD), which ensures that fund managers that also provide investment services must largely comply with the same prudential requirements as investment firms. The consultation period ends on August 30, 2021.
The IFR Supervisor Regulations stipulate that the technical standards and guidelines of the European Banking Authority (EBA) must be applied by managers of investment funds or UCITS with regard to the parts of the IFR and the IFD that have been declared applicable to managers of investment funds and UCITS. The technical standards and guidelines of EBA that relate to the elements not applicable to managers of investment funds and UCITS do not have to be applied. At present, the IFR Supervisor Regulations only contain provisions for the application of the IFR by managers of investment institutions and UCITS. In the future, DNB will further expand the IFR Supervisor Regulations with a further specification of some options and discretions under the IFR and the IFD that relate to investment firms. DNB assumes that the IFD Implementation Act will come into effect before the reporting deadline for the quarterly reports for the third quarter of 2021. DNB, therefore, also expects that the new reporting templates will be used by managers of investment institutions and UCITS (and investment firms) for the reports on the third quarter.
Related Links
Comment Due Date: August 30, 2021
Keywords: Europe, Netherlands, Securities, Investment Firms, Regulatory Capital, Reporting, IFR, IFD, Supervisor Regulation IFR, Option and Discretions, AIFMD, UCITS, DNB
Featured Experts

María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer

Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.

Nick Jessop
Scenario modeling expert; risk management specialist; quantitative financial modeler
Previous Article
HKMA Consults on Policy Module for Climate Risk ManagementRelated Articles
EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
EBA Publishes Regulatory Standards to Identify Shadow Banking Entities
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance
The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks
EC Publishes Results on Review of Web Accessibility Directive
The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.
NGFS Report Explores Quantification of Climate Risk Differentials
The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations
MAS Consults on Adjustment Spreads for Conversion of SOR Contracts
The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.
OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
EBA Proposes Standards to Support Secondary NPL Markets
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
EBA Issues Standards for Crowdfunding Service Providers Under ECSPR
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.