Previous Reporting Requirements for MiFID Firms

Introduction

This section of the website provides information on prudential returns submitted by MiFID investment firms. You will find information on the following items on this page:

• Reporting requirements for MiFID investment firms
• Reporting guidance notes
• Reporting requirements for external auditors
• An overview of the Central Bank of Ireland’s Online Reporting System
• An overview of the transaction reporting process for investment firms

Reporting Requirements for MiFID Investment Firms

MiFID investment firms are required to report certain information on a periodic basis. This information is required by relevant legislation, supplementary requirements and as advised in writing to the firm by the Central Bank of Ireland. We have included below a list of all returns applicable to MiFID firms. Included in this document is:

• each return type and name
• its scheduling requirements
• the type of firm each return applies to, and
• any available guidance notes/templates for each return

CRD IV Reporting Requirements

All MiFID Investment Firms defined under point (2) of Article 4(1) of Regulation (EU) No. 575/2013 (the "CRR") are required to comply with the prudential reporting requirements set out under the CRR and the Implementing Technical Standard No. 680/2014 on Supervisory Reporting. The current legislative basis for each CRD IV return type is set out below:

ITS on Supervisory Reporting and EBA Taxonomy releases:

The current version of the Implementing Technical Standard (ITS) on Supervisory Reporting No. 680/2014 (as published in the EU Official Journal) is available on the European Commission's website.

Additional information on the CRD IV Supervisory Reporting Requirements including responses to relevant Q&As on supervisory reporting is available on the European Banking Authority's (EBA) website.

Information on the relevant taxonomy releases including the template filing rules, Data Point Model (DPM) and applicable validation rules is available on the European Banking Authority's (EBA) website.

How to Report

All CRD IV regulatory returns must be uploaded to the Online Reporting (ONR) system in extensible Business Reporting Language (XBRL) format using the relevant EBA taxonomies referred to in the previous section.  This document outlines the procedure for uploading XBRL files to the ONR.

CRD IV Exempt FOR MiFID Investment Firms - COREP Reporting Requirements

The Central Bank is exercising the discretion under Article 95(2) of the CRR with regard to a sub-set of the CRD IV exempt firms - those that are authorised to execute orders on behalf of clients and/or conduct portfolio management. This means that the Pillar 1 binding capital requirements and Pillar 2 Internal Capital Adequacy Assessment Process and the Supervisory Review and Evaluation Process set out in S.I. No. 660 of 2006 (as amended) and S.I. No. 661 of 2006 (as amended) as at 31 December 2013 continue to apply to the CRD IV exempt FOR firms on both an individual and consolidated basis as applicable.

Such firms are required to submit the COREP in existence at 31 December 2013 on a calendar quarter basis. Firms that are subject to consolidated capital adequacy requirements under Regulation 15 of S.I. No. 661 of 2006 (as amended) - applied to investment firms by Regulation 3(1) of S.I. No. 660 of 2006 (as amended) - must provide information on a consolidated basis to the Central Bank on a bi-annual basis.

For a description of relevant applicable templates see the below documents:

Important Reporting Information

Reporting for period ended 30 June 2021

The Central Bank requires all MiFID investment firms to report under CRD IV taxonomy 2.9 or the relevant capital reports for non-CRD IV investment firms, for 30 /06/2021 as scheduled.

CRR/IFR Reporting

• CRR reporting will commence for all class one minus investment firms under taxonomy 3.0 for the period beginning 1 July 2021 (Including monthly liquidity returns).   

• IFR reporting will commence for all class two investment firms on 30 September 2021.

• IFR reporting will commence for all class three investment firms on 31 December 2021.

The European Banking Authority (EBA) published the final draft Implementing Technical Standards (ITS) on the supervisory reporting for both class two and three firms.

In line with the legal mandate under Article 54(1) of the IFR, class two will be required to report all of the following on a quarterly basis: 

• Level and composition of own funds;  
• Own funds requirements; 
• Own funds calculations;
• The level of activity in respect of the conditions set out under Article 12(1) of the IFR including the balance sheet and revenue break down by investment service and applicable K-factor;  
• Concentration risk; and  
• Liquidity requirements. 

In line with the legal mandate under Article 54 of the IFR class three firms will be required to report on all of the following on an annual basis:

• Level and composition of own funds;
• Own funds requirements;
• Own funds calculations;
• The level of activity in respect of the conditions set out under Article 12(1) of the IFR including the balance sheet and revenue break down by investment service and applicable K-factor; and 
• Liquidity requirements.

Guidance Notes/Templates

CEBS GL03 Guidelines re the Supervisory Review Process

Guidelines on disclosure requirements under Part Eight of CRR

In December 2016 the EBA published the Guidelines on disclosure requirements under Part Eight of Regulation (EU) No 575/2013 (CRR) (EBA/GL/2016/11) with the aim of further specifying the requirements, as well as aligning the related disclosure practices, to the standards published by the Basel Committee on Banking Supervision. The Central Bank has notified the EBA of its intention to comply with the Guidelines, which apply from 31 December 2017.

In order to ensure a harmonised and consistent approach to institutions’ disclosures the Central Bank has determined that impacted investment firms comply with the guidelines in full, in accordance with the disclosure requirements of Article 6, Article 10 and Article 13 of CRR.

Large Exposures Reporting - New Client Codes

• Firms reporting new clients (or changing client type e.g. from a connected client to a group or unconnected client) should complete the New Clients Information Schedule (below) and submit it to [email protected]. Firms will then be issued with new codes.
• Reporting firms should submit one request for codes per quarter. The request must be made between the reference date of the return and five days before the return remittance date. We cannot guarantee that requests for codes after this window will be processed in time to ensure submission within regulatory deadlines. In such instances, the reporting entity will be responsible for any resulting late submissions.

How to Report Returns through the Online Reporting System

Firms are required to submit all returns electronically through the Online Reporting System.

The following document gives a detailed overview the Online Reporting System.

The reporting date and submission due date for the majority of returns are set by the Central Bank. However, certain returns are scheduled and submitted by the firm on an Ad-hoc basis. This should be completed in line with the following guidelines.

Reporting Requirements of External Auditors

As part of the Central Bank’s prudential supervision of regulated financial institutions, the Central Bank may request to meet with firm’s external auditors. Engagement between the Central Bank and external auditors are governed by the external auditor protocol.

MiFIR (Regulation (EU) No 600/2014 on Markets in Financial Instruments) Transaction Reporting

MiFIR introduced a new transaction reporting regime effective 3 January 2018. New standards and formats are prescribed in the legislation. The scope includes additional financial instruments, trading venues and reporting firms.

Please refer to the legislation including the

• Commission Delegated Regulations;
• Guidelines on Transaction Reporting, Order Record Keeping and Clock Synchronisation under MiFID II; and
• MiFIR Reporting Instructions.

More Information

Links

• ESMA provides guidance on transaction reporting, order record keeping and clock synchronization under MiFID II
• MiFIR Reporting Instructions