58. For small and non-interconnected investment firms meeting the criteria of Article 12(1) of …

For small and non-interconnected investment firms meeting the criteria of Article 12(1) of Regulation (EU) 2019/2033, competent authorities should:

a. monitor key indicators at least on an annual basis;
b. perform the assessment of all SREP elements in light of material new information emerging on the risk posed, with the scope and depth of the review tailored to the specific risk profile of the investment firm;
c. have engagement and dialogue with the investment firm’s management body and senior management when considered necessary and in particular in the context of the assessment of SREP elements where performed. Table 2. Application of SREP to different categories of investment firms Monitoring

Category of key indicators	Assessment of all SREP elements	Minimum level of engagement / dialogue Ongoing dialogue with the
1 Quarterly	2 years	management body and senior management. Event-based engagement with the management body and senior
2 Quarterly	3 years Event-based (with the scope and depth of the	management, at least with the frequency of SREP assessment. Event-based engagement with the management body and senior
3 Quarterly	review tailored to the specific risk profile of the investment firm)	management, at least with the frequency of SREP assessment.
Small and non-interconnected investment firms as Yearly set out in Article 12(1) of Regulation	Event-based (with the scope and depth of the review tailored to the specific risk profile of the investment firm)	Event-based engagement with the management body and senior management, at least with the frequency of SREP assessment.

(EU) 2019/2033

1. Overview

Summary	Regulation

Requirements
Source	Requirement

Standards
Source	Requirement

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