Changes to the Regulatory and Prudential Requirements for European Investment Firms

Regulation (EU) 2019/2033 on the prudential requirements of investment firms and Directive (EU) 2019/2034 on the prudential supervision of investment firms (collectively, "IFR/IFD Framework") significantly change the regulatory and prudential environment of investment firms. The Framework categorizes investment firms based on a combination of quantitative criteria with other criteria (such as the types of investment services provided) and introduces major changes in the prudential regime of investment firms based on K-factors.

The IFR/IFD Framework left a great number of issues to be dealt with by the level 2 implementation acts. In this context, this summer the European Banking Authority published a Consultation Paper relating to prudential requirements, reporting, and disclosure by investment firms and remuneration issues.

The purpose of this White Paper is to outline, in a Q&A format, the main changes stemming from the IFR/IFD Framework and challenges that investment firms will be facing in the coming months.

Please see full White Paper below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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