On 25 May 2023, the European Commission published Commission Delegated Regulation (EU) of 25 May 2023 supplementing the Investment Firms Directive with regard to regulatory technical standards specifying the measurement of risks or elements of risks not covered or not sufficiently covered by the own funds requirements set out in parts three and four of Regulation (EU) 2019/2033 and the indicative qualitative metrics for the amounts of additional own funds.

The provisions of the delegated act relate to the determination of additional capital requirements for risks or elements of risk that are not covered or not sufficiently covered by part three or part four of the Investment Firms Regulation to ensure the harmonised application of those requirements across the EU.

The Delegated Regulation aims to identify, assess and quantify material risks that investment firms are exposed to or poses to their counterparties or to the wider market in which they operate. It will come into force on the twentieth day following its publication in the Official Journal of the European Union.