E.U. – EBA NCA Investment Firm Disclosures

E.U. – EBA NCA Investment Firm Disclosures

On 25 June 2021, EBA issued report ITS on IFD disclosure by supervisors.

  • EBA issued final draft standards of supervisory disclosure re investment firms directive.
  • Part of phase 2 mandates of EBA roadmap on investment firms disclosure by EU NCAs.
  • Will ensure disclosed information is comprehensive and comparable across all States.


  • Follows EBA June 2020 began implementing a new regulatory framework.
  • Also follows EBA February 2021 consulted on supervisory technical standards.
  • Follows EBA March 2021 draft ITS on supervisory reporting framework.

Disclosure ITS

  • Final draft ITS on information on supervisory approaches and aggregate statistical data concerning the new prudential requirements NCAs will have to disclose publicly for all types of investment firm authorized under Markets in Financial Instruments Directive.
  • On text of laws, regulations, administrative rules and general guidance, in each State.
  • Also disclose options and discretions in the application of the prudential requirements.
  • Criteria and methodologies of the supervisory review and evaluation process (SREP).
  • Aggregate statistical data on aspects of implementation of IFD and IFR in each State.
  • Number and nature of supervisory measures taken, and of administrative sanctions.
  • Authorities shall disclose the information of investment firms, on an individual basis.
  • Templates on transposition, model approval, specific disclosures, regulatory reporting.
  • Authorities to complete with reference date to 31 December 2021, published 30 June 2022.


  • Competent authorities will have to start disclosing this information on 30 June 2022.