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)
Article 1
Format of the information to be reported annually to competent authorities by branches of third-country firms
Article 2
Format of the information to be reported to the European Securities and Markets Authority (ESMA) on request by competent authorities
Article 3
Entry into force
ANNEX I
Format for submitting the information referred to in Article 41(3) and 41(4) of Directive 2014/65/EU (1)
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Field |
Sub-fields |
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1a |
Reporting period |
The reporting start date for the calendar year (YYYY-MM-DD) |
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1b |
The reporting end date for the calendar year (YYYY-MM-DD) |
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2a |
Name and contact details of the third-country firm, including the details of the branch, of the person in charge of submitting the information, and of the authorities of the third country responsible for the supervision of the third-country firm |
Full corporate name of the branch and the Legal Entity Identifier code (LEI) |
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2b |
Address of the branch (to be provided in case of any change to the information previously reported to the competent authority) |
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2c |
Contact details of the branch including email address, phone number and website details |
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2d |
Full legal name of the third-country firm and, where available, the Legal Entity Identifier (LEI) (to be provided in case of any change to the information previously reported to the competent authority) |
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2e |
Registered address for the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) |
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2f |
Contact details of the third-country firm including email address, phone number, and website details |
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2g |
Country of the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) |
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2h |
Name, address and country of the authority responsible for the supervision of the third-country firm in the third country. When more than one authority is responsible for the supervision of the third-country firm, the details and the respective areas of competence per authority shall be provided (to be provided in case of any change to the information previously reported to the competent authority) |
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2i |
Contact person full name |
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2j |
Contact person address |
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2k |
Contact person phone number |
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2l |
Contact person email address |
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2m |
Contact person function/title |
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3a |
Investment services, investment activities and ancillary services provided by the branch in the Member State where the branch is established, during the reporting period |
The list of investment services, investment activities and ancillary services (as specified in Sections A and B of Annex I to Directive 2014/65/EU) provided by the branch in the Member State where it is established |
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3b |
The list of categories of financial instruments (as specified in Section C of Annex I to Directive 2014/65/EU) in relation to which such services and activities have been performed |
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3c |
Where the branch provides portfolio management, the total value of the assets under management for clients in the Member State where the branch is established at the end of the reporting period |
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3d |
Where the branch provides portfolio management, the average value of the assets under management for clients in the Member State where the branch is established over the reporting period |
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3e |
Where the branch provides investment advice, the total value of the assets in relation to which investment advice has been provided to clients in the Member State where the branch is established at the end of the reporting period |
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3f |
Where the branch provides investment advice, the average value of the assets in relation to which investment advice has been provided to clients in the Member State where the branch is established during the reporting period |
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3g |
Where the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the total value of the assets (including cash) held by the branch for clients in the Member State where the branch is established at the end of the reporting period |
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3h |
Where the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the average value of the assets (including cash) held by the branch for clients in the Member State where the branch is established during the reporting period |
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4a |
Number of clients and counterparties and number of staff of the branch in the Member State where the branch is established, during the reporting period |
The total number of clients and counterparties of the branch in the Member State where it is established |
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4b |
The breakdown of the total number of clients and counterparties of the branch in the Member State where it is established per investment service, investment activity or ancillary service provided in that Member State |
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4c |
The numbers of retail clients, professional clients and eligible counterparties (as set out in Directive 2014/65/EU) to whom the branch is providing investment services, investment activities or ancillary services in the Member State where it is established. |
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4d |
The breakdown of the number of staff of the branch in the Member State where it is established per investment service, investment activity or ancillary service provided in the Member State. |
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5a |
Turnover and aggregated value of the assets of the branch in the Member State where the branch is established, during the reporting period |
The turnover generated by the branch and the aggregated value of the assets corresponding to the investment services, investment activities and ancillary services provided in the Member State where the branch is established |
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5b |
The breakdown of the turnover of the branch in the Member State where it is established per investment service, investment activity and ancillary service provided in that Member State |
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5c |
The breakdown of the turnover of the branch in the Member State where it is established per category of client as set out in Directive 2014/65/EU |
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6 |
Where the branch deals on own account, information on the exposure of the third-country firm during the reporting period to counterparties in the Member State where the branch is established |
The monthly minimum, average and maximum exposure to counterparties in the Member State where the branch is established |
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7 |
Where the branch underwrites financial instruments and/or places financial instruments on a firm commitment basis, information about the value of the financial instruments originating from counterparties in the Member State where the branch is established and is underwritten or placed on a firm commitment basis, during the reporting period |
The total value and number of financial instruments originating from counterparties in the Member State where the branch is established and underwritten or placed on a firm commitment basis by the branch |
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8a |
Composition of the management body of the third-country firm |
The list of members of the management body of the third-country firm |
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8b |
For each member of the management body, the member’s full name, country of domicile and contact details |
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8c |
The position at which each member of the management body is appointed |
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9a |
Key function holders for the activities of the branch |
The list of key function holders for the activities of the branch |
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9b |
For each key function holder, the person’s full name, country of domicile and contact details |
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9c |
The position at which each key function holder is appointed |
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9d |
The reporting lines between the key function holders and the third-country firm’s management body |
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10 |
Information about complaints received by the branch or by the third-country firm in relation to the activities of the branch in the Member State where the branch is established and during the reporting period |
The number of complaints received by the branch or by the third-country firm in relation to the activities of the branch in the Member State where it is established, together with:
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11a |
Description of the marketing activities of the branch or of the third-country firm in relation to the activities of the branch in the Member State where the branch is established and during the reporting period |
A description of the marketing strategy of the branch or of the third-country firm used in the Member State where the branch is established in relation to the activities of the branch, including details about its geographical scope and the marketing means the third-country firm used (such as any agents, roadshows, telephone calls, websites) |
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11b |
The list of trading names used by the branch of the third-country firm in the Member State where the branch is established, together with, for each trading name:
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11c |
For any agents or similar entities used by the branch of the third-country firm in that Member State, the name of the individual or entity together with the address and contact details |
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11d |
The list of websites used by the branch in the Member State where the branch is established, together with, for each website, its URL |
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12a |
Description of the investor protection arrangements of the third-country firm available to the clients of the branch in the Member State where the branch is established, including the rights of those clients resulting from the investor-compensation scheme referred to in Article 39(2), point (f), of Directive 2014/65/EU (to be provided in case of any change to the information previously reported to the competent authority) |
Information and reporting to clients |
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Description of the arrangements set up by the third-country firm as regards its information and reporting obligations to clients and implementing measures for the operations of the branch in the Member State where it is established |
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12b |
The language(s) the branch will use with its clients in the Member State where the branch is established |
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12c |
Suitability and appropriateness |
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Description of the arrangements of the third-country firm to assess suitability or appropriateness, as the case may be, when the branch provides services to clients in the Member State where it is established |
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12d |
Best execution |
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Where the branch executes orders for its clients in the Member State where it is established, description of the arrangements set up to execute client orders on terms most favourable to the clients |
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12e |
Client order handling rules |
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Where the branch handles client orders, description of the arrangements set up by the branch for the prompt, fair and expeditious execution of client orders with a focus on the operations of the branch in the Member State where the branch is established |
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12f |
Product governance arrangements |
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Where the third-country firm manufactures and/or distributes, via its branch, financial instruments, description of the product governance arrangements set up by the third-country firm for the operations of the branch in the Member State where the branch is established |
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12g |
The arrangements of the third-country firm to identify, prevent and manage conflicts of interest |
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Description of the measures set up by the third-country firm, acting through its branch, to identify and to prevent or manage conflicts of interest that arise in the course of providing investment and ancillary services, including those arising from the remuneration policy of the persons involved in the provision of investment services, investment activities and ancillary services provided in the Member State where the branch is established |
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12h |
The arrangements of the third-country firm to handle complaints |
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Description of the procedure set up by the third-country firm acting through its branch, and to be followed by clients of the branch for lodging a complaint |
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12i |
The department responsible for handling the complaints of clients of the branch |
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12j |
The language(s) clients must lodge their complaints |
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12k |
The relevant courts (in case of litigation) referred to in any contractual arrangements between the third-country firm acting through its branch and its clients in the Member State where the branch is established |
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12l |
The alternative dispute resolution entity/ies competent to deal with disputes involving clients in the Member State where the branch is established and the third-country firm |
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12m |
The third-country firm’s membership of an investor compensation scheme |
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The description of the third-country firm’s membership of an investor compensation scheme including whether clients and counterparties of the branch will be eligible to such scheme, its scope, a description of the eligibility conditions and the amounts and financial instruments covered by the scheme |
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12n |
The arrangements of the third-country firm to protect and manage client funds and assets |
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The description of any client fund or client asset safeguarding arrangements (in particular, where financial instruments and funds are held in a custodian, the name of the custodian, and related contracts) put in place in the Member State where the branch is established |
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12o |
Other arrangements |
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The description of any other arrangements that the third-country firm may deem relevant to the provision of services and performance of the activities of the branch in the Member State where the branch is established in an honest, fair and professional manner that promotes the interests of clients |
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13a |
Information on the outsourcing arrangements of the third-country firm applicable to the operations of the branch (to be provided in case of any change to the information previously reported to the competent authority) |
The list and description of the outsourced functions (or those intended to be outsourced) |
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13b |
The description of the resources (in particular, human and technical, and the internal control system) allocated to the control of the outsourced functions, services or activities insofar as they are related to the operations of the branch in the Member State where it is established |
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14 |
Information on the arrangements (including IT arrangements) set up by the third-country firm applicable to the activities of the branch for algorithmic trading, for high frequency trading and for direct electronic access (to be provided in case of any change to the information previously reported to the competent authority) |
Description of any arrangements and resources (in particular human and IT resources) that the third-country firm may have put in place and/or allocated for the activities of its branch in the Member State where the branch is established for algorithmic trading, high frequency trading and direct electronic access and for the control of such activities |
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15a |
Information on the activities of the compliance function (or equivalent) |
Regulatory changes |
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Description of the management and implementation of material changes and developments in regulatory requirements during the reporting period which impact the investor protection arrangements for the activities of the branch of the third-country firm |
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15b |
Findings |
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The number of controls performed on-site and outsourced and a summary of major findings of the compliance function on the operations of the third-country firm insofar as they are relevant to the operations of the branch |
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15c |
Actions taken or to be taken (including following complaints or deviation from compliance function’s recommendations addressed to senior management) to address identified failures or risks of failures by the third-country firm insofar as they relate to the operations of the branch |
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15d |
Other |
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Any other information that the branch may find relevant to mention |
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16a |
Information on the activities of the internal audit function (or equivalent) |
Findings |
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A summary of major findings of the internal audit function on the operations of the third-country firm insofar as they are relevant to the operations of the branch |
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16b |
Actions taken or to be taken globally (including timeline and organisational units of the third-country firm involved) to address identified failures or risks of failures by the third-country firm insofar as they relate to the operations of the branch |
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17a |
Information on the activities of the risk management function (or equivalent) and the risk management policy of the third-country firm |
Risk management policy |
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A summary of the risk management policy of the third-country firm insofar as it relates to the operations of the branch and the arrangements applied by the branch for the services and activities carried out by the branch (to be provided in case of any change to the information previously reported to the competent authority) |
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17b |
Findings |
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A summary of major findings of the risk management function on the operations of the third-country firm globally and actions taken or to be taken to address those findings |
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18 |
Any other information that the branch of a third-country firm may find relevant to communicate to the competent authority of the Member State where it is established. |
ANNEX II
Format for submitting information referred to in Article 41(3) and 41(4) of Directive 2014/65/EU in case the Commission has taken an equivalence decision as referred to in Article 47(1) of Regulation (EU) No 600/2014
# |
Field |
Sub-fields |
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19a |
Reporting period |
The reporting start date for the calendar year (YYYY-MM-DD) |
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19b |
The reporting end date for the calendar year (YYYY-MM-DD) |
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20a |
Name and contact details of the third-country firm, including the details of the branch, of the person in charge of submitting the information, of the authorities of the third country responsible for the supervision of the third-country firm |
Full corporate name of the branch and Legal Entity Identifier code (LEI) where available |
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20b |
Address of the branch (to be provided in case of any change to the information previously reported to the competent authority) |
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20c |
Contact details of the branch including email address, phone number and website details |
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20d |
Full legal name of the third-country firm and Legal Entity Identifier (LEI) where available (to be provided in case of any change to the information previously reported to the competent authority) |
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20e |
Registered address for the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) |
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20f |
Contact details of the third-country firm including email address, phone number, and website details |
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20g |
Country of the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) |
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20h |
Name, address and country of the authority responsible for the supervision of the third-country firm in the third country. When more than one authority is responsible for the supervision of the third-country firm, the details and the respective areas of competence per authority shall be provided (to be provided in case of any change to the information previously reported to the competent authority) |
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20i |
Contact person full name |
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20j |
Contact person address |
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20k |
Contact person phone number |
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20l |
Contact person email address |
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20m |
Contact person function/title |
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21a |
Investment services, investment activities and ancillary services provided by the branch in each Member State other than the one where it is established, during the reporting period |
The list of investment services, investment activities and ancillary services (as specified in Sections A and B of Annex I to Directive 2014/65/EU) provided to eligible counterparties and professional clients within the meaning of Section I of Annex II to Directive 2014/65/EU, in each Member State other than the one where the branch is established |
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21b |
The list of categories of financial instruments (as specified in Section C of Annex I to Directive 2014/65/EU) in relation to which such services and activities have been performed |
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21c |
For each Member State other than the one where the branch is established and in which the branch provides portfolio management, the total value of the assets under management for clients in the Member State at the end of the reporting period |
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21d |
For each Member State other than the one where the branch is established and in which the branch provides portfolio management, the average value of the assets under management for clients in the Member State over the reporting period |
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21e |
For each Member State other than the one where the branch is established and in which the branch provides investment advice, the total value of the assets in relation to which that service has been provided to clients in the Member State at the end of the reporting period |
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21f |
For each Member State other than the one where the branch is established and in which the branch provides investment advice, the average value of the assets in relation to which that service has been provided to clients in the Member State over the reporting period |
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21g |
For each Member State other than the one where the branch is established and in which the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the total value of the assets (including cash) held by the branch for clients in the Member State at the end of the reporting period |
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21h |
For each Member State other than the one where the branch is established and in which the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the average value of the assets (including cash) held by the branch for clients in the Member State over the reporting period |
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22a |
Number of clients and counterparties of the branch in Member States other than the one where the branch is established and globally, during the reporting period |
The total number of clients and counterparties of the branch in the European Union (excluding the Member State where it is established). |
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22b |
The total number of clients and counterparties of the third-country firm globally |
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22c |
For each Member State other than the Member State where the branch is established and in which the branch provided any investment services, investment activities or ancillary services, the total number of clients and counterparties of the branch in that other Member State, together with:
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23a |
Turnover and aggregated value of the assets of the branch in Member States other than the one where the branch is established and of the third-country firm globally, during the reporting period |
The turnover of the branch in the Union (not including the Member State where it is established) and the aggregated value of the assets corresponding to the services and activities provided by the third-country firm in the Union (not including the Member State where it is established) |
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23b |
The global turnover of the third-country firm |
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23c |
For each Member State other than the one where the branch is established and in which the branch provided any investment services, investment activities or ancillary services, the turnover and the aggregated value of the assets corresponding to such investment services, investment activities and ancillary services, together with:
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24a |
Where the branch deals on own account, information on the exposure of the third-country firm to counterparties in the Union (not including the Member State where the branch is established), during the reporting period |
For each Member State other than the one where the branch is established and in which the branch deals on own account, the monthly minimum, average and maximum exposure to counterparties in that Member State |
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24b |
The monthly minimum, average and maximum exposure to counterparties in the Union (not including the Member State where the branch is established) |
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25a |
Where the branch underwrites financial instruments and/or places financial instruments on a firm commitment basis, information about the value of the financial instruments originating from counterparties in the Union (other than in the Member State where the branch is established) and is underwritten or placed on a firm commitment basis during the reporting period |
For each Member State other than the one where the branch is established and in which the branch provides underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis, the total value of financial instruments originating from counterparties in the Member State and underwritten or placed on a firm commitment basis by the branch |
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25b |
The total value of financial instruments originating from counterparties in the Union (other than in the Member State where the branch is established) and underwritten or placed on a firm commitment basis by the branch |
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26 |
Information about complaints received by the branch and/or by the third-country firm in relation to the activities of the branch in the Union (other than in the Member State where the branch is established), during the reporting period |
The number of complaints received by the branch and/or by the third-country firm in relation to the activities of the branch in Member States other than the one where the branch is established, together with:
|
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27a |
Description of the marketing activities of the branch or of the third-country firm in relation to the activities of the branch in the Union (other than in the Member State where the branch is established), during the reporting period |
A description of the marketing strategy of the third-country firm used in the Union (other than in the Member State where the branch is established) in relation to the activities of the branch, including details about its geographical scope and the marketing means the third-country firm used (such as any agents, roadshows, telephone calls, websites) |
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27b |
The list of trading names used by the third-country firm in the Union (other than in the Member State where the branch is established), together with, for each trading name:
|
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27c |
For any agents or similar entities used by the third-country firm in the Union (other than in the Member State where the branch is established) the name of the individual or entity together with the address and contact details |
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27d |
The list of websites used by the third-country firm in the Union (other than in the Member State where the branch is established), together with, for each website, its URL |
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28a |
Description of the investor protection arrangements of the third-country firm available to the clients of the branch in the Union (other than in the Member State where the branch is established), including the rights of those clients resulting from the investor-compensation scheme referred to in Article 39(2), point (f) of Directive 2014/65/EU (to be provided in case of any change to the information previously reported to the competent authority) |
Information and reporting to clients |
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The description of the arrangements of the third-country firm to ensure that it complies with its information and reporting obligations to clients under Articles 24 and 25 of Directive 2014/65/EU and implementing measures for the operations of the branch in the Union (other than in the Member State where the branch is established) |
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28b |
The language(s) the branch will use with its clients in the Union (other than in the Member State where the branch is established) |
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28c |
Suitability and appropriateness |
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The description of the arrangements of the third-country firm to ensure that it complies with its obligations to assess suitability or appropriateness, as the case may be, when the branch provides services to clients in the Union (other than in the Member State where the branch is established) |
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28d |
Best execution |
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Where the branch executes orders for its clients in the Union (other than in the Member State where the branch is established), the description of the arrangements to ensure that it executes client orders on terms most favourable to the clients |
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28e |
Client order handling rules |
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The description of the arrangements of the third-country firm which provide for the prompt, fair and expeditious execution of client orders with a focus on the operations of the branch in the Union (other than in the Member State where the branch is established) |
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28f |
Product governance arrangements |
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Where the third-country firm manufactures and/or distributes financial instruments in the Union (other than in the Member State where the branch is established), description of the product governance arrangements set up by the third-country firm for its operations in the Union. |
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28g |
The arrangements of the third-country firm to identify, prevent and manage conflicts of interest |
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The description of the measures the third-country firm has put in place to identify and to prevent or manage conflicts of interest that arise in the course of providing investment and ancillary services, including those arising from the remuneration policy of the persons involved in the provision of investment services, investment activities and ancillary services provided in the Union (other than in the Member State where the branch is established) |
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28h |
The arrangements of the third-country firm to handle complaints |
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A description of the procedure that clients of the third-country firm in the Union (other than in the Member State where the branch is established) need to follow to lodge a complaint |
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28j |
The department responsible for handling the complaints of clients of the branch |
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28k |
The language(s) clients must lodge their complaints |
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28l |
The relevant courts (in case of litigation) referred to in any contractual arrangements between the third-country firm and its clients in the Union (other than in the Member State where the branch is established) |
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28m |
The alternative dispute resolution entity/ies competent to deal with cross-border disputes involving clients in the Union (other than in the Member State where the branch is established) |
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28n |
The third-country firm’s membership of an investor compensation scheme |
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The description of the third-country firm’s membership of an investor compensation scheme including whether clients and counterparties of the branch in the Union (other than in the Member State where the branch is established) will be eligible to such scheme, its scope, a description of the eligibility conditions and the amounts and financial instruments covered by the scheme |
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28o |
The arrangements of the third-country firm to protect and manage client funds and assets |
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The description of safeguarding arrangements for any client fund or client asset in the Union (other than in the Member State where the branch is established) (in particular, where financial instruments and funds are held in a custodian, the name of the custodian, and related contracts) |
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28p |
Other arrangements |
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The description of any other arrangements that the third-country firm may deem relevant to the provision of services and performance of the activities of the branch in the Union (other than in the Member State where the branch is established) in an honest, fair and professional manner that promotes the interests of clients |
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29a |
Information on the outsourcing arrangements of the third-country firm applicable to the operations of the branch (to be provided in case of any change to the information previously reported to the competent authority) |
The list and description of the outsourced functions (or those intended to be outsourced) for the provision of the branch’s investment services and performance of its activities in the Union (other than in the Member State where the branch is established) |
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29b |
The description of the resources (in particular, human and technical, and the internal control system) allocated to the control of the outsourced functions, services or activities insofar as they are related to the operations of the branch in the Union (other than in the Member State where the branch is established) |
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30 |
Information on the arrangements (including IT arrangements) set up by the third-country firm applicable to the activities of the branch for algorithmic trading, for high frequency trading and for direct electronic access (to be provided in case of any change to the information previously reported to the competent authority) |
Description of any arrangements and resources (in particular human and IT resources) that the third-country firm may have put in place and/or allocated for the activities of its branch in the Union (other than in the Member State where the branch is established) for algorithmic trading, high frequency trading and direct electronic access and for the control of such activities |
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31 |
Any other information considered by the competent authority necessary to enable comprehensive monitoring of the activities of the branch in the Union |