On 2 June 2020, the European Banking Authority (EBA) published a roadmap setting out its intentions concerning the mandates given to it under the Investment Firm Directive (IFD) and the Investment Firm Regulation (IFR).

The EBA’s mandates under the IFD and IFR cover a broad range of areas including 18 regulatory technical standards, 3 implementing technical standards, 6 sets of guidelines, 2 reports, the requirement for the EBA to maintain a list of capital instruments and a database of administrative sanctions, and a number of notifications in various areas.

Section 3 of the roadmap provides an overview of the timeline for its mandates. The EBA has grouped its work in terms of, first, the deadlines set in the IFR/IFD and, second, the area of the mandate. With this in mind, EBA mandates have consequently been grouped into the following thematic areas: (i) thresholds and criteria for investment firms to be subject to the Capital Requirements Regulation; (ii) capital requirements and composition; (iii) reporting and disclosure; (iv) remuneration and governance; (v) supervisory convergence and the supervisory review process; and (vi) mandates concerning environmental, social and governance aspects.

To help our financial services clients navigate the implications of the new prudential regime, we have created an IFD/IFR transition hub on the NRF Institute. For further information please contact Jochen Vester.