EUROPE: EBA Launches Public Consultation on the Draft Technical Standards On Supervisory Disclosure under the Investment Firms Directive

Friday February 12 2021

The European Banking Authority (EBA) has launched a public consultation on its draft Implementing Technical Standards (ITS) on the information concerning the new prudential requirements that competent authorities will be required to disclose publicly for all types of investment firms authorised under the Markets in Financial Instruments Directive (MiFID).

The draft ITS, which are part of the phase 2 mandates of the EBA Roadmap on investment firms, aim at ensuring that the disclosed information is comprehensive and comparable across all Member States. The consultation runs until 11 May 2021.

 The information that competent authorities will have to disclose every year covers supervisory approaches and aggregate statistical data on the new prudential requirements for investment firms. In particular, the information covers the following areas:

• the text of laws, regulations, administrative rules and general guidance adopted in each Member State;
• options and discretions in the application of the prudential requirements;
• criteria and methodologies of the supervisory review and evaluation process (SREP);
• aggregated statistical data on prudential requirements.

The first disclosure date under these draft ITS is set by 30 June 2022.

Consultation process

Comments to the Consultation Paper can be sent to the EBA by clicking on the “send your comments” button on the consultation page. Please note that the deadline for the submission of comments is 11 May 2021.

Click on the link for further information.