Commission Implementing Regulation (EU) 2022/1220 of 14 July 2022 laying down implementing technical standards for the application of Directive 2014/65/EU of the European Parliament and of the Council with regard to the format in which branches of third-country firms and competent authorities have to report the information referred to in Article 41(3) and (4) of that Directive (Text with EEA relevance)

Current text a fecha 2026-04-15

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (1), and in particular Article 41(6) thereof,

Whereas:

(1) It is necessary to ensure that the European Securities and Markets Authority (ESMA) and the competent authorities concerned receive all information necessary to supervise branches of third-country firms, and to ensure that such information is processed in an efficient and swift manner. The information referred to in Article 41(3) and (4) of Directive 2014/65/EU should therefore be submitted in a language that is customary in the sphere of international finance.

(2) Article 39(2) of Directive 2014/65/EU requires that branches of third-country firms that wish to provide investment services or to perform investment activities in the territory of a Member State, acquire prior authorisation of the competent authority of that Member State. Such branches are not allowed to provide investment services or perform investment activities in other Member States than the Member State where those branches received their authorisation. The European Commission can, however, adopt an equivalence decision in accordance with Article 47(1) of Regulation (EU) No 600/2014 of the European Parliament and of the Council (2) stating that the legal and supervisory arrangements of that third country with regard to investment firms are equivalent to those that apply in the Union. In such a case, the authorised branches of investment firms that fall under the scope of such an equivalence decision would continue to be supervised by the competent authority of the Member State in which those branches are established, irrespective of whether they provide cross border services or performs cross border activities. It is therefore necessary to ensure that the format for the reporting of the information referred to in Article 41(3) of Directive 2014/65/EU is also apt for the reporting on such cross-border services and activities of those branches.

(3) According to Article 41(3) of Directive 2014/65/EU, branches of third-country firms that have been authorised in accordance with Article 41(1) of that Directive are to report to the competent authority of the Member State where that authorisation was granted, on an annual basis, the information laid down in that Article 41(3). In order to harmonise not only the format, but also the timing of reporting, it is necessary to include a timeframe when that information is to be provided to competent authorities.

(4) This Regulation is based on the draft implementing technical standards submitted to the Commission by ESMA.

(5) ESMA has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (3),

HAS ADOPTED THIS REGULATION:

Article 1

Format of the information to be reported annually to competent authorities by branches of third-country firms

The branch of a third-country firm authorised in accordance with Article 41(1) of Directive 2014/65/EU shall use the format set out in Annex I to report the information referred to in Article 41(3) of that Directive. However, where the third-country firm is subject to an equivalence decision as referred to in Article 47(1) of Regulation (EU) No 600/2014, the branch of such third-country firm shall use the format set out in Annex II for those services and activities that are covered by such equivalence decision.

The information referred to in paragraph 1 shall be submitted in a language customary in the sphere of international finance.

The information referred to in paragraph 1 shall be submitted by 30 April of each year and shall cover the period from 1 January to 31 December of the preceding calendar year. The information provided shall be accurate as of 31 December of the preceding year.

Article 2

Format of the information to be reported to the European Securities and Markets Authority (ESMA) on request by competent authorities

For the purpose of Article 41(4) of Directive 2014/65/EU, competent authorities shall report the following fields from Annex I and II to ESMA:

Reporting Period: 1a and 1b and, where applicable, 19a and 19b;

Name of the third-country firm and the branch: 2a and 2d and, where applicable, 20a and 20d;

Investment services, investment activities and ancillary services provided by the branch: 3a, 3b, 3c, 3d, 3e, 3f, 3g and 3h and, where applicable, 21a, 21b, 21c, 21d, 21e, 21f, 21g and 21h;

Number of clients and counterparties and number of staff of the branch: 4a, 4b, 4c, 4d and, where applicable, 22a, 22b and 22c;

Turnover and aggregated value of the assets of the branch: 5a, 5b, 5c and, where applicable, 23a, 23b and 23c.

Article 3

Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 14 July 2022.

For the Commission The President Ursula VON DER LEYEN

(1) OJ L 173, 12.6.2014, p. 349.

(2) Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ L 173, 12.6.2014, p. 84).

(3) Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).