Version status: Entered into force | Document consolidation status: No known changes
Published date: 5 December 2019

Directive (EU) 2019/2034 of the European Parliament and of the Council of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU (IFD) (Text with EEA relevance)

Recitals
Title I Subject matter, scope and definitions (arts. 1-3)
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Article 1 Subject matter
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Article 2 Scope
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Article 3 Definitions
Title II Competent authorities (arts. 4-8)
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Article 4 Designation and powers of the competent authorities
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Article 5 Discretion of competent authorities to subject certain investment firms to the requirements of Regulation (EU) No 575/2013
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Article 6 Cooperation within a Member State
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Article 7 Cooperation within the European System of Financial Supervision
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Article 8 Union dimension of supervision
Title III Initial capital (arts. 9-11)
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Article 9 Initial capital
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Article 10 References to initial capital in Directive 2013/36/EU
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Article 11 Composition of initial capital
Title IV Prudential supervision (arts. 12-56)
Chapter 1 Principles of prudential supervision (arts. 12-24)
Section 1 Competences and duties of home and host Member States (arts. 12-14)
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Article 12 Competence of the competent authorities of the home and host Member State
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Article 13 Cooperation between competent authorities of different Member States
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Article 14 On-the-spot checking and inspection of branches established in another Member State
Section 2 Professional secrecy and duty to report (arts. 15-17)
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Article 15 Professional secrecy and exchange of confidential information
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Article 16 Cooperation arrangements with third countries for the exchange of information
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Article 17 Duties of persons responsible for the control of annual and consolidated accounts
Section 3 Sanctions, investigatory powers and right of appeal (arts. 18-23)
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Article 18 Administrative sanctions and other administrative measures
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Article 19 Investigatory powers
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Article 20 Publication of administrative sanctions and other administrative measures
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Article 21 Reporting sanctions to EBA
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Article 22 Reporting of breaches
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Article 23 Right of appeal
Chapter 2 Review process (arts. 24-45)
Section 1 Internal capital adequacy assessment process and internal risk-assessment process (art. 24)
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Article 24 Internal capital and liquid assets
Section 2 Internal governance, transparency, treatment of risks and remuneration (arts. 25-35)
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Article 25 Scope of application of this Section
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Article 26 Internal governance
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Article 27 Country-by-country reporting
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Article 28 Role of the management body in risk management
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Article 29 Treatment of risks
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Article 30 Remuneration policies
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Article 31 Investment firms that benefit from extraordinary public financial support
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Article 32 Variable remuneration
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Article 33 Remuneration committee
Article 34 Oversight of remuneration policies
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Article 35 EBA report on environmental, social, and governance risks
Section 3 Supervisory review and evaluation process (arts. 36-37)
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Article 36 Supervisory review and evaluation
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Article 37 Ongoing review of the permission to use internal models
Section 4 Supervisory measures and powers (arts. 38-45)
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Article 38 Supervisory measures
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Article 39 Supervisory powers
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Article 40 Additional own funds requirement
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Article 41 Guidance on additional own funds
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Article 42 Specific liquidity requirements
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Article 43 Cooperation with resolution authorities
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Article 44 Publication requirements
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Article 45 Obligation to inform EBA
Chapter 3 Supervision of investment firm groups (arts. 46-56)
Section 1 Supervision of investment firm groups on a consolidated basis and supervision of compliance with the group capital test (arts. 46-50)
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Article 46 Determination of the group supervisor
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Article 47 Information requirements in emergency situations
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Article 48 Colleges of supervisors
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Article 49 Cooperation requirements
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Article 50 Verification of information concerning entities located in other Member States
Section 2 Investment holding companies, mixed financial holding companies and mixed-activity holding companies (arts. 51-56)
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Article 51 Inclusion of holding companies in supervision of compliance with the group capital test
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Article 52 Qualifications of directors
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Article 53 Mixed-activity holding companies
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Article 54 Sanctions
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Article 55 Assessment of third-country supervision and other supervisory techniques
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Article 56 Cooperation with third-country supervisory authorities
Title V Publication by competent authorities (art. 57)
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Article 57 Publication requirements
Title VI Delegated acts (art. 58)
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Article 58 Exercise of the delegation
Title VII Amendments to other Directives (arts. 59-64)
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Article 59 Amendment to Directive 2002/87/EC
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Article 60 Amendment to Directive 2009/65/EC
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Article 61 Amendment to Directive 2011/61/EU
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Article 62 Amendments to Directive 2013/36/EU
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Article 63 Amendments to Directive 2014/59/EU
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Article 64 Amendments to Directive 2014/65/EU
Title VIII Final Provisions (arts. 65-69)
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Article 65 References to Directive 2013/36/EU in other Union legal acts
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Article 66 Review
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Article 67 Transposition
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Article 68 Entry into force
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Article 69 Addressees
Done at