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)

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Version status: Entered into force | Document consolidation status: Updated to reflect all known changes

Published date: 5 December 2019

Consolidation Status: Updated to reflect all known changes


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

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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)

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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)

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