15. Competent authorities should categorise each investment firm for which the supervisory review …

Competent authorities should categorise each investment firm for which the supervisory review and evaluation referred to in Article 36 of Directive (EU) 2019/2034 is to be carried out into one of the following categories:

• • Category 1 – investment firms meeting at least one of the following criteria:
• i. their value of the total assets and off-balance sheet exposures is equal to or exceeds EUR 1 billion; or
• ii. their value of the total assets and off-balance sheet exposures is equal to or exceeds EUR 250 million and they perform activities referred to in point (3) or (6) of Section A of Annex I to Directive 2014/65/EU¹⁰ ; or
• iii. they are considered significant based on supervisory judgement of the competent authority.
• • Category 2 – investment firms whose value of the total assets and off-balance sheet exposures is below EUR 1 billion and is equal to or exceeds EUR 250 million, and that perform neither of activities referred to in point (3) or (6) of Section A of Annex I to Directive 2014/65/EU.
• • Category 3 – investment firms whose value of the total assets and off-balance sheet exposures is below EUR 250 million and that do not meet the conditions for qualifying as a small and non-interconnected investment firm set out in Article 12(1) of Regulation (EU) 2019/2033.
• • Small and non-interconnected investment firms as set out in Article 12(1) of Regulation (EU) 2019/2033.

¹⁰ Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173 12.6.2014, p. 349).

1. Overview

1.1 References

• Article 36 Supervisory review and evaluation
• Article 12 1.

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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