EBA launches data collection to support the new prudential framework for investment firms

The European Banking Authority (EBA) launched today a data collection aimed at supporting the response to the European Commission’s Call for Advice on a new prudential framework for MiFID (Markets in Financial Instruments Directive) investment firms, which should be less complex, more risk sensitive and more proportionate than the current regime.

For the purpose of this data collection, the EBA published templates and instructions which are addressed to MiFID investment firms and to UCITS/AIFMD (Undertakings for Collective Investment in Transferable Securities/Alternative Investment Fund Managers Directive) firms that conduct MiFID activities or services. The templates should be filled in and submitted to the respective Competent Authorities by Friday, 7 October 2016 at the latest.

This data collection follows the Call for Advice received from the European Commission on 13 June 2016 and also addresses its request regarding the application of proportionality in the area of remuneration.

The EBA will launch an ad-hoc data collection for commodity dealers at a later stage.

The EBA statement and related information is available here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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