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Article 32 › 5

IFD
DIRECTIVE (EU) 2019/2034 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 27 November 2019 on the prudential supervision of investment firms and amending Directives 2002/87/EC, 2009/65/EC, 2011/61/EU, 2013/36/EU, 2014/59/EU and 2014/65/EU (Text with EEA relevance) · European Union

By way of derogation from point (a) of paragraph 4, a Member State may increase the threshold referred to in that point, provided that the investment firm meets the following criteria: (a) the investment firm is not, in the Member State in which it is established, one of the three largest investment firms in terms of total value of assets; (b) the investment firm is not subject to obligations or is subject to simplified obligations in relation to recovery and resolution planning in accordance with Article 4 of Directive 2014/59/EU; (c) the size of the investment firm’s on and off‐balance sheet trading‐book business is equal to or less than EUR 150 million; (d) the size of the investment firm’s on and off‐balance sheet derivative business is equal to or less than EUR 100 million; (e) the threshold does not exceed EUR 300 million; and (f) it is appropriate to increase the threshold, taking into account the nature and scope of the investment firm’s activities, its internal organisation, and, where applicable, the characteristics of the group to which it belongs.

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Source: EUR-Lex CELLAR · retrieved 2026-09-05