Commission Delegated Regulation (EU) 2024/911 supplementing Directive 2009/65/EC with regulatory technical standards on information notification for cross-border activities of management companies and UCITS

Commission Delegated Regulation (EU) 2024/911 of 15 December 2023 supplementing Directive 2009/65/EC of the European Parliament and of the Council with regard to regulatory technical standards specifying the information to be notified in relation to the cross-border activities of management companies and undertakings for collective investment in transferable securities (UCITS) (Text with EEA relevance)

(DO L 911, 25.3.2024, p. 1)

corrected by:

(C1)
Corrigendum, OJ L 90231, 5.4.2024, p. 1 ((EU) 2024/911)

▼B

COMMISSION DELEGATED REGULATION (EU) 2024/911

of 15 December 2023

supplementing Directive 2009/65/EC of the European Parliament and of the Council with regard to regulatory technical standards specifying the information to be notified in relation to the cross-border activities of management companies and undertakings for collective investment in transferable securities (UCITS)

(Text with EEA relevance)

(DO L 911, 25.3.2024, p. 1)

corrected by:

(C1)
Corrigendum, OJ L 90231, 5.4.2024, p. 1 ((EU) 2024/911)

▼B

COMMISSION DELEGATED REGULATION (EU) 2024/911

of 15 December 2023

supplementing Directive 2009/65/EC of the European Parliament and of the Council with regard to regulatory technical standards specifying the information to be notified in relation to the cross-border activities of management companies and undertakings for collective investment in transferable securities (UCITS)

(Text with EEA relevance)

Article 1

Information to be provided in accordance with Article 17(1) and (2) of Directive 2009/65/EC

1.

The information provided by management companies in accordance with Article 17(1) of Directive 2009/65/EC shall include all of the following elements:

(a)

the name, address, LEI and contact details of the management company;

(b)

the name – or first name and surname – and contact details of the department or contact point in the management company that is responsible for exchanging information with the competent authority of the home Member State of the management company.

2.

The description of the activities and services to be included in the programme of operations that management companies are to provide in accordance with Article 17(2)(b) of Directive 2009/65/EC shall include all of the following elements:

(a)

the specific types of activities and services referred to in Article 6(2) and (3) of Directive 2009/65/EC that will be provided in the host Member State;

(b)

information on whether the management company is part of a group;

(c)

an explanation of how the branch will contribute to the implementation of the management company’s or the management company group’s strategy;

(d)

a description of the branch’s business strategy;

(e)

the branch’s forecasts regarding both profits or losses and cash flows for the first 36 months.

3.

The description of the branch’s organisational structure to be included in the programme of operations that management companies are to provide in accordance with Article 17(2)(b) of Directive 2009/65/EC shall include all of the following elements:

(a)

the functional, geographical and legal structure of lines of reporting;

(b)

a description of how the branch fits into the internal structure of the management company or, where the management company is a member of a group, into the internal structure of the group, including detailed information on any operational units established at branch level and an indication of the human resources allocated to the branch;

(c)

rules regarding the branch’s reporting obligations to the management company;

(d)

a description of the risk management and measurement process implemented by the management company at branch level in accordance with Articles 40–43 of Commission Directive 2010/43/EU (1);

(e)

a description of the procedures and arrangements made in accordance with Article 15 of Directive 2009/65/EC;

(f)

a compilation of information on the control systems and mechanisms introduced by the management company at branch level, including all of the following elements:

(i)

procedures introduced and human and material resources allocated to ensure compliance with the rules established by the host Member State of the management company in accordance with Article 14 of Directive 2009/65/EC;

(ii)

procedures implemented and human and material resources allocated to fulfil the obligations regarding the prevention of money laundering and terrorist financing set out in Directive (EU) 2015/849 of the European Parliament and of the Council (2);

(iii)

control mechanisms over arrangements concerning authorisations in respect of activities carried out by the branch in the host Member State.

4.

The information that management companies are to provide in accordance with Article 17(2)(d) of Directive 2009/65/EC regarding persons responsible for the management of the branch shall include the first name and surname, position, e-mail address and telephone number of persons holding key management positions in relation to the branch.

Article 2

Information to be provided in accordance with Article 18(1) and (2) of Directive 2009/65/EC

1.

The information provided by management companies in accordance with Article 18(1)(a) of Directive 2009/65/EC shall include all of the following elements:

▼C1

(a)

the name, address, LEI and contact details of the management company;

▼B

(b)

the name – or first name and surname – and contact details of the department or contact point in the management company that is responsible for exchanging information with the competent authority of the home Member State of the management company.

2.

The description of the services and activities to be included in the programme of operations that management companies are to provide in accordance with Article 18(1)(b) of Directive 2009/65/EC shall include all of the following elements:

(a)

the specific types of activities and services referred to in Article 6(2) and (3) of Directive 2009/65/EC that will be provided in the host Member State;

(b)

information on whether the management company is part of a group;

(c)

an explanation of how the activities to be carried out in the host Member State will contribute to the implementation of the management company’s or the management company group’s strategy.

Article 3

Information to be provided in accordance with Article 20(1)(b) of Directive 2009/65/EC

The information provided by management companies in accordance with Article 20(1)(b) of Directive 2009/65/EC shall include all of the following elements:

(a)

a list of investment management and administration tasks subject to authorisation;

(b)

the name/first name and surname, address and contact details of the authorised person.

Article 4

Notification of any changes to the information provided in accordance with Article 17(1), (2), (3), (8) and (9), Article 18(1), (2) and (4) and Article 20(1) and (4) of Directive 2009/65/EC

1.

Management companies shall notify the relevant competent authorities of any changes to the information referred to in Articles 1 to 3.

2.

Management companies shall notify the relevant competent authorities of the planned termination of the activities of a branch established in another Member State and provide those competent authorities with all of the following information:

(a)

the first name and surname, e-mail address and telephone number of the person or persons who will be responsible for the branch termination process;

(b)

the timetable for the planned termination of activities;

(c)

details and proposed processes for the winding up of the business, including detailed information on how the interests of investors will be protected, the handling of complaints and the repayment of any outstanding liabilities.

Article 5

Entry into force and application

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

This Regulation shall apply from 25 June 2024.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

(1) Commission Directive 2010/43/EU of 1 July 2010 on the implementation of Directive 2009/65/EC of the European Parliament and of the Council as regards organisational requirements, conflicts of interest, conduct of business, risk management and content of the agreement between the depositary and the management company (OJ L 176, 10.7.2010, p. 42).

(2) Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC (OJ L 141, 5.6.2015, p. 73).

Top