Regulatory Alerts2023-01-12
Added · Updated
Commission Implementing Regulation (EU) 2023/1119 on standard forms and procedures for information sharing between competent authorities
The European Commission adopted Implementing Regulation (EU) 2023/1119 to establish implementing technical standards for information exchange between home and host Member State competent authorities regarding investment firms under Directive (EU) 2019/2034. The regulation mandates that competent authorities update and share specific information annually by 30 April, or within 14 calendar days for non-compliance and supervisory measures. It further requires the maintenance of contact lists, the use of secure electronic channels for data transmission, and the application of standardized templates for reporting on own funds and liquidity requirements. This regulation entered into force on the twentieth day following its publication in the Official Journal on 8 June 2023.