Regulatory Alerts2022-04-12
Commission Delegated Regulation (EU) 2022/1455 supplementing Regulation (EU) 2019/2033 on regulatory technical standards for own funds requirement for investment firms based on fixed overheads
The European Commission adopted Delegated Regulation (EU) 2022/1455 to supplement Regulation (EU) 2019/2033 by establishing regulatory technical standards for own funds requirements for investment firms based on fixed overheads. This regulation specifies the calculation of fixed overheads, allowing for non-audited financial statements where applicable and requiring annualization for statements not covering a 12-month period, while clarifying that profit shares and certain staff remuneration deductions are based on net profits. It further details additional deductible items from total expenses, provides specific rules for commodity and emission allowance dealers, and defines objective thresholds for what constitutes a material change in projected fixed overheads for investment firms.