Amendments to the Regulation regarding the companies own funds requirements, calculated based on overheads

In the Official Journal of the European Union, series L 78, of 24 March 2015 it was published the delegated Regulation (EU) 2015/488 of the Commission for amending the delegated Regulation (EU) No. 241/2014 regarding the companies requirements for own funds, calculated on the basis of overheads.

The objective of the Regulation: the Regulation (EU) No. 575/2013 establishes, among other matters, prudential requirements for investment firms in order to ensure that investment firms are safe and sound and comply at all times with the own funds requirements. In order to ensure that firms are able to organise an orderly winding down or restructuring of their activities, they should hold sufficient financial resources to withstand operational expenses over an appropriate period of time.  Given that firms make use of tied agents and the business carried out through tied agents exposes those firms to risks in the same manner as the business carried out by the firms themselves, appropriate rules on the own funds requirements for firms based on fixed overheads should provide for the inclusion of costs relating to tied agents to reflect those risks. The Delegated Regulation (EU) No 241/2014 lays down regulatory technical standards for own funds requirements for institutions. This Regulation establishes the methodology for calculating fixed overheads for firms. To ensure coherence and to facilitate a comprehensive view and compact access to all the provisions regarding own funds by persons subject to those obligations, it is desirable to include all regulatory technical standards required by Regulation (EU) No 575/2013 on own funds in a single Regulation. Delegated Regulation (EU) No 241/2014 should therefore be amended accordingly.

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

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