S.I. No. 21/2025 - European Union (Investment Firms) (Amendment) Regulations 2025
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 7th February, 2025. | ||
I, PASCHAL DONOHOE, Minister for Finance, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving further effect to Directive (EU) 2019/2034 of the European Parliament and of the Council of 27 November 20191 on the prudential supervision of investment firms, including in so far as that Directive amends Directive 2013/36/EU of the European Parliament and of the Council of 26 June 20132 , hereby make the following regulations: | ||
1. These Regulations may be cited as the European Union (Investment Firms) (Amendment) Regulations 2025. | ||
2. Regulation 11 of the European Union (Investment Firms) Regulations 2021 ( S.I. No. 355 of 2021 ) is amended by the insertion of the following paragraph after paragraph (8): | ||
“(9) Where the State is the home Member State of an investment firm, the Bank shall give prior notification to the competent authority of a host Member State when it intends to utilise its powers under Part 3 of the Act of 2013 to conduct all necessary inspections at the business premises of the legal persons, and any other undertakings included in the supervision of compliance with the group capital test, where the Bank is the group supervisor.”. | ||
3. Regulation 74 of the European Union (Capital Requirements) Regulations 2014 ( S.I. No. 158 of 2014 ) is amended, in paragraph (9), by the substitution of the following subparagraph for subparagraph (j): | ||
“(j) subject to paragraph (11), take the necessary operational steps to ensure that liquidity recovery plans can be implemented immediately.”. | ||
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GIVEN under my Official Seal, | ||
6 February, 2025. | ||
PASCHAL DONOHOE, | ||
Minister for Finance. | ||
