A new category of credit institutions – the EBA consults on application and requirements

The European Banking Authority published on June 4th 2020 a number of documents regarding the Investment Firm Regulation (IFR) and Investment Firm Directive (IFD).  The package includes a roadmap on investment firms (EBA mandates arising from IFR/IFD) and a number of draft regulatory technical standards (RTS) in relation to the IFR/IFD mandates.

The European Banking Authority welcomes feedback to this Consultation Paper until 4 September 2020, after which the consultation on the draft RTS will be finalized and submitted to the European Commission. The technical standards will apply from June 2021.

This article provides further insight on the Consultation paper.