What changes on 05/12/2019

The text in force from 07/06/2014 compared with the text from 05/12/2019.

Read the act as of 05/12/2019 · other versions: 25/12/2019 · 09/01/2024

Part I › Title I

• inserted Article 1 - Subject matter and scope
• inserted Article 2 - Supervisory powers
• inserted Article 3 - Application of stricter requirements by investment firms
• inserted Article 4 - Definitions

Part I › Title II › Chapter 1

• inserted Article 5 - General principle
• inserted Article 6 - Exemptions

Part I › Title II › Chapter 2

• inserted Article 7 - Prudential consolidation
• inserted Article 8 - The group capital test

Part II

• inserted Article 9 - Own funds composition
• inserted Article 10 - Qualifying holdings outside the financial sector

Part III › Title I

• inserted Article 11 - Own funds requirements
• inserted Article 12 - Small and non‐interconnected investment firms
• inserted Article 13 - Fixed overheads requirement
• inserted Article 14 - Permanent minimum capital requirement

Part III › Title II › Chapter 1

• inserted Article 15 - K‐factor requirement and applicable coefficients

Part III › Title II › Chapter 2

• inserted Article 16 - RtC K‐factor requirement
• inserted Article 17 - Measuring AUM for the purpose of calculating K‐AUM
• inserted Article 18 - Measuring CMH for the purpose of calculating K‐CMH
• inserted Article 19 - Measuring ASA for the purpose of calculating K‐ASA
• inserted Article 20 - Measuring COH for the purpose of calculating K‐COH

Part III › Title II › Chapter 3

• inserted Article 21 - RtM K‐factor requirement
• inserted Article 22 - Calculating K‐NPR
• inserted Article 23 - Calculating K‐CMG

Part III › Title II › Chapter 4 › Section 1

• inserted Article 25 - Scope
• inserted Article 26 - Calculating K‐TCD
• inserted Article 27 - Calculation of exposure value
• inserted Article 28 - Replacement cost (RC)
• inserted Article 29 - Potential future exposure
• inserted Article 30 - Collateral
• inserted Article 31 - Netting
• inserted Article 32 - Credit valuation adjustment

Part III › Title II › Chapter 4

• inserted Article 24 - RtF K‐factor requirement

Part III › Title II › Chapter 4 › Section 2

• inserted Article 33 - Measuring DTF for the purpose of calculating K‐DTF

Part III › Title II › Chapter 5

• inserted Article 34 - Prudential treatment of assets exposed to activities associated with environmental or social objectives

Part IV

• inserted Article 35 - Monitoring obligation
• inserted Article 36 - Calculation of the exposure value
• inserted Article 37 - Limits with regard to concentration risk and exposure value excess
• inserted Article 38 - Obligation to notify
• inserted Article 39 - Calculating K‐CON
• inserted Article 40 - Procedures to prevent investment firms from avoiding the K‐CON own funds requirement
• inserted Article 41 - Exclusions
• inserted Article 42 - Exemption for commodity and emission allowance dealers

Part V

• inserted Article 43 - Liquidity requirement
• inserted Article 44 - Temporary reduction of the liquidity requirement
• inserted Article 45 - Client guarantees

Part VI

• inserted Article 46 - Scope
• inserted Article 47 - Risk management objectives and policies
• inserted Article 48 - Governance
• inserted Article 49 - Own funds
• inserted Article 50 - Own funds requirements
• inserted Article 51 - Remuneration policy and practices
• inserted Article 52 - Investment policy
• inserted Article 53 - Environmental, social and governance risks

Part VII

• inserted Article 54 - Reporting requirements
• inserted Article 55 - Reporting requirements for certain investment firms, including for the purposes of the thresholds referred to in Article 1(2) of this Regulation and in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013

Part VIII

• inserted Article 56 - Exercise of the delegation

Part IX › Title I

• inserted Article 57 - Transitional provisions
• inserted Article 58 - Derogation for undertakings referred to in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013
• inserted Article 59 - Derogation for investment firms referred to in Article 1(2)

Part IX › Title II

• inserted Article 60 - Review clause

Part IX › Title III

• inserted Article 61 - Amendment to Regulation (EU) No 1093/2010
• inserted Article 62 - Amendments to Regulation (EU) No 575/2013
• inserted Article 63 - Amendments to Regulation (EU) No 600/2014
• inserted Article 64 - Amendment to Regulation (EU) No 806/2014

Outside any heading

• inserted Recital 1
• inserted Recital 2
• inserted Recital 3
• inserted Recital 4
• inserted Recital 5
• inserted Recital 6
• inserted Recital 7
• inserted Recital 8
• inserted Recital 9
• inserted Recital 10
• inserted Recital 11
• inserted Recital 12
• inserted Recital 13
• inserted Recital 14
• inserted Recital 15
• inserted Recital 16
• inserted Recital 17
• inserted Recital 18
• inserted Recital 19
• inserted Recital 20
• inserted Recital 21
• inserted Recital 22
• inserted Recital 23
• inserted Recital 24
• inserted Recital 25
• inserted Recital 26
• inserted Recital 27
• inserted Recital 28
• inserted Recital 29
• inserted Recital 30
• inserted Recital 31
• inserted Recital 32
• inserted Recital 33
• inserted Recital 34
• inserted Recital 35
• inserted Recital 36
• inserted Recital 37
• inserted Recital 38
• inserted Recital 39
• inserted Recital 40
• inserted Recital 41
• inserted Recital 42
• inserted Recital 43
• inserted Recital 44
• inserted Recital 45
• inserted Recital 46
• inserted Recital 47
• inserted Recital 48
• inserted Recital 49
• inserted Recital 50
• inserted Recital 51
• inserted Preamble

Part X

• inserted Article 65 - References to Regulation (EU) No 575/2013 in other Union legal acts
• inserted Article 66 - Entry into force and date of application