Preamble

On the basis of section 14 (2) and (3) sentences 1, 3 and 4 in conjunction with section 40 (4), section 66 (1) sentence 3 and section 68 (2) of the Investment Firm Act (Wertpapierinstitutsgesetz) of 12 May 2021 (Federal Law Gazette (Bundesgesetzblatt) I, p. 990) in conjunction with section 1d no. 2 and 3 of the Regulation on the Transfer of Powers to Issue Statutory Orders to the Federal Financial Supervisory Authority (Verordnung zur Übertragung von Befugnissen zum Erlass von Rechtsverordnungen auf die Bundesanstalt für Finanzdienstleistungsaufsicht) of 13 December 2002 (Federal Law Gazette 2003 I, p. 3), which was inserted by Article 1 of the Regulation of 26 June 2021 (Federal Law Gazette I p. 2027), the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht), in consultation and in other respects in agreement with the Deutsche Bundesbank, and after consulting with the leading associations of investment firms, hereby issues the following Regulation for the cases set out in section 14 (2) sentences 1 and 2 of the Investment Firm Act:

Table of contents

Part 1 Submission procedure, Legal Entity Identifier, credit notification

Section 1 Submission procedure

(1) The notifications and documents required under the Investment Firm Act, Commission Delegated Regulation (EU) 2017/1943 of 14 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards on information and requirements for the authorisation of investment firms (OJ L 276, 26.10.2017, p. 4, L 292, 10.11.2017, p. 119) or Commission Implementing Regulation (EU) 2017/1945 of 19 June 2017 laying down implementing technical standards with regard to notifications by and to applicant and authorised investment firms according to Directive 2014/65/EU of the European Parliament and of the Council (OJ L 276, 26.10.2017, p. 22) to be submitted to the Federal Financial Supervisory Authority (the Supervisory Authority) and the Regional Office of the Deutsche Bundesbank responsible for the investment firm must be submitted in a single copy unless otherwise stipulated in this Regulation. Notifications and documents submitted by investment holding companies and mixed financial holding companies in accordance with sections 67 and 68 of the Investment Firm Act must be submitted to the Regional Office in whose territory the parent undertaking within the meaning of section 2 (30) of the Investment Firm Act has its registered office.

(2) An electronic submission channel must be used for notifications and documents if so required by the Supervisory Authority or the Deutsche Bundesbank. The Supervisory Authority and the Deutsche Bundesbank will publish more detailed requirements on the respective electronic submission channel on their websites.

Section 2 Legal Entity Identifier

(1) The following companies require a Legal Entity Identifier for identification in the reporting system:

1. investment firms,
2. investment holding companies within the meaning of point 23 of Article 4(1) of Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013 (EU) No 600/2014 and (EU) No 806/2014 (OJ L 314, 5.12.2019, p. 1; L 20, 24.1.2020, p. 26; L 405, 2.12.2020, p. 79; L 261, 22.7.2021, p. 60), as most recently amended by Regulation (EU) No 806/2014 (OJ L 225, 30.7.2014, p. 1), as amended, and
3. mixed financial holding companies within the meaning of point 40 of Article 4(1) of Regulation (EU) 2019/2033.

(2) The Legal Entity Identifier must be issued by an issuing authority that is a member of a system for identifying legal entities that is internationally recognised by supervisory authorities.

(3) The Legal Entity Identifier must be notified in writing to the Supervisory Authority and the Deutsche Bundesbank without undue delay following its receipt. If an undertaking already has a Legal Entity Identifier before it becomes an investment firm, an investment holding company or a mixed financial holding company, the Legal Entity Identifier must be notified immediately in writing to the authorities referred to in sentence 1.

(4) Undertakings that require a Legal Entity Identifier in accordance with subsection (1) are required to ensure that the Legal Entity Identifier assigned to them remains valid, in particular by paying the required fee.

(5) If the name, legal registered office, address of the head office, legal form, responsible commercial register or commercial register number changes, the new details must be reported immediately to the issuing office responsible for the Legal Entity Identifier.

(6) The parent undertaking within the meaning of section 2 (30) of the Investment Firm Act must ensure that all members of its group for which it is required to report information to the Supervisory Authority or the Deutsche Bundesbank in accordance with Regulation (EU) 2019/2033 or the Investment Firm Act fulfil the obligations set out in subsections (1) and (3) to (5).

Section 3 Notifications in accordance with section 64 (1) no. 12 and subsection (2) of the Investment Firm Act

(1) Notifications in accordance with to section 64 (1) no. 12 and (2) of the Investment Firm Act must contain information about the amount and method of calculation of the relevant percentage set out in section 64 (1) no. 12 of the Investment Firm Act.

(2) Notifications in accordance with section 64 (2) sentence 2 of the Investment Firm Act must be identified as notifications of change.

(3) Loans are not required to be notified in accordance with section 64 (2) sentence 2 of the Investment Firm Act if the legal amendment to the terms of the loan is limited to an adjustment of the interest rate in line with changes in the market interest rate.

Part 2 Notification of persons

Section 4 Notifications in accordance with section 64 (1) nos. 1, 2 or 3, section 65 (1) no. 1 or section 67 (2) sentence 1 nos. 1, 2, 4 or 5 of the Investment Firm Act

(1) The form “Notification of Personnel Changes in accordance with the Investment Firm Act” in accordance with Annex 1 must be used

1. for notifications by an investment firm in accordance with section 64 (1) no. 1 of the Investment Firm Act on the intention to authorise a person to act as sole representative of the investment firm in all aspects of its line of business, as well as the implementation, relinquishment or amendment of such an intention,
2. for notifications by an investment firm in accordance with section 64 (1) no. 2 of the Investment Firm Act on the withdrawal of authorisation to act as sole representative of the investment firm in all aspects of its line of business, giving the relevant reasons for the withdrawal,
3. for notifications by an investment firm in accordance with section 64 (1) no. 3 of the Investment Firm Act on the implementation of the appointment of a manager or a member of the administrative or supervisory body,
4. for notifications by a large investment firm in accordance with section 65 (1) no. 1 of the Investment Firm Act regarding the intention to fill a key function, the filling of a key function or the departure of the holder of a key function, giving the relevant reasons for the departure,
5. for notifications by an investment holding company in accordance with section 67 (2) sentence 1 no. 1 or no. 2 of the Investment Firm Act on the intention to appoint a person to effectively manage the business and the implementation of such intention or the departure of this person, giving the relevant reasons for the departure, and
6. for notifications by an investment holding company in accordance with section 67 (2) sentence 1 no. 4 or no. 5 of the Investment Firm Act on the appointment of a member and alternative member of the administrative or supervisory body or the departure of a member, giving the relevant reasons for the departure.

(2) Additional information and documents must be provided if required by the Supervisory Authority.

(3) If a notification in accordance with section 64 (1) no. 1 or no. 3, section 65 (1) no. 1 or section 67 (2) sentence 1 no. 1 of the Investment Firm Act on the implementation of the relevant appointment or authorisation is submitted more than 12 months after the notification of such an intention, the documents and declarations to be attached in accordance with sections 5, 6, 8 and 9 must be resubmitted in an updated form. The Supervisory Authority may dispense with this requirement in individual cases.

Section 5 Curriculum vitae as an annex to the notifications in accordance with section 64 (1) no. 1, section 65 (1) no. 1 or section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act

(1) The notifications in accordance with section 64 (1) no. 1, section 65 (1) no. 1 or section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act must be accompanied by a comprehensive curriculum vitae of the persons named. The curriculum vitae must contain the information referred to in Article 4(a)(i) and (iii) of Delegated Regulation (EU) 2017/1943.

(2) The dates contained in the curriculum vitae in accordance with (1) must be accurate to the nearest month. All information must be complete, accurate and true. The curriculum vitae must be dated and signed personally. If available, the curriculum vitae must be accompanied by job references for employment in the three years prior to submission of the application.

Section 6 Declarations in accordance with Article 4(a) of Delegated Regulation (EU) 2017/1943, Article 5 of Implementing Regulation (EU) 2017/1945, section 64 (1) no. 1, section 65 (1) no. 1, section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act

(1) The information in accordance with Article 4(a) of Delegated Regulation (EU) 2017/1943 and Article 5 of Implementing Regulation (EU) 2017/1945 and the notification of the intention to appoint in accordance with section 67(2) sentence 1 no. 1 of the Investment Firm Act or the notification of appointment in accordance with section 67(2) sentence 1 no. 4 of the Investment Firm Act must be accompanied by a declaration by the persons named there regarding the information to be provided in accordance with Article 4(a)(iv) to (ix), (xi) and (xiii) of Delegated Regulation (EU) 2017/1943 using the form “Information on reputation and minimum time in accordance with Article 4 of Delegated Regulation (EU) 2017/1943” in accordance with Annex 4. If the notification is made relating to a large investment firm within the meaning of section 2 (18) of the Investment Firm Act, information on the assessment of compliance with the mandate limits of the managers and members of the administrative or supervisory body in accordance with section 4 sentence 1 of the Investment Firm Act in conjunction with section 25c (2) and section 25d (3) or (3a) of the Banking Act (Kreditwesengesetz) must be provided using the form in accordance with sentence 1.

(2) When disclosing the minimum time to be spent in accordance with Article 4(a)(xi) of Delegated Regulation (EU) 2017/1943, purely honorary posts and activities relating to the person’s private life do not need to be taken into account.

(3) The knowledge of the persons at the time the declaration is made is decisive for submitting the declaration in accordance with subsection (1).

(4) Notifications of the intention to grant authorisation in accordance with section 64 (1) no. 1 of the Investment Firm Act or appointments in accordance with section 65 (1) no. 1 of the Investment Firm Act must be accompanied by a declaration by the persons named there regarding the information to be provided in accordance with Article 4(a)(iv) to (ix) of Delegated Regulation (EU) 2017/1943 using the form “Information on reputation and minimum time in accordance with Article 4 of Delegated Regulation (EU) 2017/1943” in accordance with Annex 4. Information about the minimum time to be spent is not required.

(5) The form in accordance with subsections (1) and (4) must be completed in full and signed in person by the person being notified.

(6) The declarations referred to in subsections (1) and (4) do not need to include criminal proceedings that were discontinued for lack of sufficient suspicion or due to a procedural impediment or which have ended with an acquittal or in which an entry in the Federal Central Criminal Register (Bundeszentralregister) has been removed or that do not have to be disclosed in accordance with section 53 of the Federal Central Criminal Register Act (Bundeszentralregistergesetz). Entries that will be deleted from the Central Trade Register (Gewerbezentralregister) in accordance with section 153 of the Industrial Code (Gewerbeordnung) may remain unmentioned. Criminal proceedings that were discontinued in accordance with sections 153 and 153a of the Code of Criminal Procedure (Strafprozessordnung) must be disclosed. The facts to be disclosed in accordance with subsections (1) and (4) must be explained where appropriate. 5Copies of judgements, decisions, sanctions or other documents relating to the completion of the proceedings must be attached.

Section 7 Confirmation by the notifying investment firm

By submitting the documents to be attached to the notification in accordance with sections (5) and (6), the notifying investment firm confirms that, to the best of its knowledge, the documents are correct at the time of submission.

Section 8 Certificate of good conduct of the persons to be notified in accordance with Article 4(a) of Delegated Regulation (EU) 2017/1943, Article 5 of Implementing Regulation (EU) 2017/1945, section 64 (1) no. 1, section 65 (1) no. 1, section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act

(1) The persons named in the notifications in accordance with Article 4(a) of Delegated Regulation (EU) 2017/1943, Article 5 of Implementing Regulation (EU) 2017/1945, section 64 (1) no. 1, section 65 (1) no. 1, section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act must submit to the Supervisory Authority a certificate of good conduct for submission to an authority (Führungszeugnis zur Vorlage bei einer Behörde) in accordance with section 30 (5) or section 30b of the Federal Central Criminal Register Act.

(2) The certificate of good conduct may not be more than three months old at the time the notifications referred to in subsection (1) are submitted. The applicable date is the date of issue of the certificate of good conduct.

(3) Persons who are nationals of a third country or who are resident in a third country that does not issue a certificate of good conduct must submit documents from their country of origin or residence that correspond to the certificate of good conduct. If such documents are not issued there, the scope of the substitute documents to be submitted must be agreed with the Supervisory Authority on a case-by-case basis.

(4) Persons who have resided in different countries in the last ten years must submit the certificates of good conduct and documents from each of these countries, unless these are Member States of the European Union that have provided information through the exchange of register information. In this case, submission of a certificate of good conduct in accordance with section 30 (5) or section 30b of the Federal Central Criminal Register Act is sufficient.

(5) If the documents are not issued in German, a translation into German is generally required in addition to the original. The translation must be certified or prepared by a publicly appointed or sworn interpreter or translator. The Supervisory Authority may dispense with the translation of documents in English.

Section 9 Extract from the Central Trade and Industry Register of the persons to be notified in accordance with Article 4(a) of Delegated Regulation (EU) 2017/1943, Article 5 of Implementing Regulation (EU) 2017/1945, section 64 (1) no. 1, section 65 (1) no. 1, section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act

(1) The persons named in the notifications in accordance with Article 4(a) of Delegated Regulation (EU) 2017/1943, Article 5 of Implementing Regulation (EU) 2017/1945, section 64 (1) no. 1, section 65 (1) no. 1, section 67 (2) sentence 1 no. 1 or no. 4 of the Investment Firm Act must submit to the Supervisory Authority an extract from the Central Trade and Industry Register in accordance with section 150 of the Industrial Code. Sentence 1 does not apply if the person has not been or is not resident in Germany within the last ten years or does not exercise or has not exercised any professional activity in Germany.

(2) The extract from the register may not be more than three months old at the time the notification referred to in subsection (1) is submitted. The applicable date is the date of issue of the extract from the register.

Section 10 Substitute in the event of absence

The provisions of sections 4 to 9 also apply to the authorisation of a substitute in accordance with Article 8(1)(c) and (d) of Delegated Regulation (EU) 2017/1943 who will substitute a manager in the event that they are unable to perform their function, as well as in the event of their departure. 2In the event of the departure of this substitute, the investment firm must notify a new substitute to exercise this function.

Section 11 Notifications in accordance with section 67 (1) of the Investment Firm Act

(1) The form “Ancillary activities of managers of an investment firm or of persons who effectively manage the business of an investment holding company or a mixed financial holding company” in accordance with Annex 2 must be used for notifications in accordance with section 67 (1) no. 1 of the Investment Firm Act by managers of an investment firm and persons who effectively manage the business of an investment holding company or a mixed financial holding company.

(2) The form “Holdings of managers of an investment firm or of persons who effectively manage the business of an investment holding company or a mixed financial holding company” in accordance with Annex 3 shall be used for notifications in accordance with section 67 (1) no. 2 of the Investment Firm Act by managers of an investment firm and persons who effectively manage the business of an investment holding company or a mixed financial holding company. Additional information, in particular on the acquisition price and disposal proceeds, must be the provided if required to the Supervisory Authority or the responsible Deutsche Bundesbank Regional Office.

Part 3 Activities in third countries and outsourcing

Section 12 Notifications in accordance with section 64 (1) no. 6 of the Investment Firm Act

(1) The notification in accordance with section 64 (1) no. 6 of the Investment Firm Act must contain:

1. the name of the country in which the branch was established, relocated or closed, or the cross-border service commenced or was discontinued,
2. the address of the branch that was established, relocated or closed; if the branch was relocated, its new address; and
3. the name of all investment services, ancillary investment services and ancillary business commenced or discontinued within the meaning of section 2 (2) to (4) of the Investment Firm Act.

The form “Branch and provision of cross-border services without the establishment of a branch in the third country” in accordance with Annex 5 must be used for the notification.

(2) The notification in accordance with section 64 (1) no. 6 of the Investment Firm Act must be submitted separately for each third country.

Section 13 Notifications in accordance with section 64 (1) no. 13 of the Investment Firm Act (material outsourced activities and processes)

(1) The auditor must assess the appropriateness and transparency of the investment firm’s remuneration systems and their alignment with the sustainable development of the investment firm in

1. a reference number issued by the investment firm for each primary outsourcing agreement,
2. information on the start and, if agreed, the end of the term of the agreement and, if applicable, the date of the next renewal and the notice periods,
3. a description of the main activities and processes, including a description of the data that is or was transferred as part of the outsourcing arrangement, as well as the disclosure of whether personal data is or was transferred and whether the primary outsourcing company is or was engaged to process personal data,
4. a category that reflects the type of activities and processes and enables the identification of different types of agreements,
5. an indication of whether functions are or were outsourced in part or in full,
6. the name, the commercial register number, Legal Entity Identifier, if applicable, the address entered in the commercial register and other relevant contact details of the primary outsourcing company and the name of the parent undertaking,
7. the country in which the service will be or is being provided, including the location where the data will be or is being stored,
8. the date of the last assessment of the materiality of the material activities and processes and disclosure of why the outsourcing arrangement is classified as material,
9. when outsourcing to a cloud provider, the cloud service model, the cloud provision model, the type of data concerned and the locations where this data is or will be stored,
10. the investment firms and other undertakings in the scope of prudential consolidation that make use of outsourcing arrangement, if applicable,
11. an indication of whether the primary outsourcing company or a secondary outsourcing company is part of the group within the meaning of section 2 (24) of the Investment Firm Act to which the investment firm belongs,
12. the date of the most recent risk analysis and a summary of the results of this risk analysis,
13. the identification of the persons and their function or the decision-making body of the investment firm that authorised the primary outsourcing agreement and, where applicable, the date of authorisation,
14. the law applicable to the primary outsourcing agreement,
15. if applicable, the date of the most recent and the next planned audit by the investment firm at the primary outsourcing company,

16. where applicable, the name and commercial register numbers or other unique identification numbers of secondary outsourcing companies to which material parts of a material activity or process will be or were outsourced, including in each case
    
    a) the country in which these secondary outsourcing companies are registered,
    b) the location where the service will be or is being provided, and
    c) if applicable, the location where the data will be or is stored,

17. the result of the assessment of the substitutability of the primary outsourcing company by
    
    a) allocation to the categories “easy”, “difficult” or “impossible”,
    b) disclosure of the potential for of the possibility of reintegrating the material activity or process into the investment firm, and
    c) disclosure of the effects of any discontinuation of the material activity or process,

18. disclosure whether there are alternative primary outsourcing companies in accordance with the assessment under no. 17 a),
19. disclosure whether the material activity or process to be outsourced or already outsourced supports business transactions that are time-critical, and
20. the annual budget estimated for the outsourcing arrangement or the associated costs.

In the case of notifications in accordance with sentence 1, the primary outsourcing agreement must be submitted to the Supervisory Authority if required.

(2) Notifications in accordance with section 64 (1) no. 13 variant 3 of the Investment Firm Act regarding material changes to an existing material outsourcing arrangement must be submitted in particular in the case of

1. contractual amendments of material importance,
2. agreements on additional material contractual provisions, in particular the agreement of additional services,
3. change in the assessment of whether an outsourcing arrangement is classified as material or immaterial,
4. material differences that result from a new or changed risk analysis with regard to the outsourcing arrangement,
5. entering into new secondary outsourcing of material parts of a material activity or a material process,
6. change in the assessment of substitutability of the primary outsourcing company,
7. subsequent relocation of the provision of services to third countries by the primary outsourcing company or the secondary outsourcing companies,
8. termination or other cancellation of the primary outsourcing agreement,
9. knowledge of the investment firm of the acquisition of control within the meaning of section 2 (22) of the Investment Firm Act of the primary outsourcing company by another undertaking.

If the investment firm notifies a material change to a material outsourcing arrangement that already existed at the time of entry into force of this Regulation, the data set out in subsection (1) must also be notified.

(3) Notifications in accordance with subsections (1) and (2) must be submitted electronically using the Supervisory Authority’s reporting and publishing platform.

(4) Notifications in accordance with section 64 (1) no. 13 variant 4 of the Investment Firm Act regarding serious incidents affecting existing material outsourcing arrangements must be submitted in particular in the case of

1. interruption of or inability to perform the outsourced material activity or process for more than a short period of time,
2. significant breaches of contract by the primary outsourcing company,
3. significant violations of the law, in particular due to the loss of the regulatory preconditions for outsourcing, extensive restrictions on the information and auditing rights of the investment firm or the supervisory authority or violations of data protection regulations by the primary outsourcing company,
4. lack of or insufficient willingness of primary outsourcing company to implement supervisory orders or to cooperate in their implementation, in particular in the context of remedying and preventing irregularities,
5. significant security incidents in connection with the outsourced activities and processes at the investment firm or the primary outsourcing company,
6. inadequate risk and contingency management at the primary outsourcing company,
7. insufficient resources of the primary outsourcing company for the proper execution of the outsourced activities and processes,
8. knowledge of the investment firm of circumstances under which a managing person at the primary outsourcing firm cannot be considered to be reliable,
9. lack of or inadequate support by the primary outsourcing company at the discontinuation of outsourcing,
10. imminent insolvency of the primary outsourcing company,
11. knowledge of the investment firm of serious reputational damage at the primary outsourcing company,
12. conflicts at the registered office of the primary outsourcing company in a third country that lead or could lead to a significant risk to the outsourced activities and processes.

(5) For small investment firms, the notification obligation under subsections (1), (2) and (4) only applies to outsourcing of cloud or other information technology services.

Part 4 Notification of equity investment, notification of association

Section 14 Notifications in accordance with section 64 (1) no. 11, section 65 (2) no. 1 or section 67 (2) sentence 2 of the Investment Firm Act

(1) Individual notifications by investment firms concerning their participating interests in other enterprises in accordance with section 64 (1) no. 11 of the Investment Firm Act must be submitted using the “Notification of asset-side participating interests” form in accordance with Annex 6. Individual notifications must be submitted for changes in participating interests if

1. the change results in 20 per cent, 30 per cent or 50 per cent of the undertaking’s capital or voting rights being reached, exceeded or fallen below,
2. the undertaking is a subsidiary or is no longer a subsidiary,
3. the interests held in the undertaking no longer or now meet the requirements of section 2 (23) sentence 3 of the Investment Firm Act, Article 10(4) of Regulation (EU) 2019/2033 or Article 91(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 646/2012 (OJ L 176, 27.6.2013, p. 1; L 208, 2.8.2013, p. 6; L 193, 21.8.2013, p. 6; L 193, 21.7.2015, p. 166; L 20, 25.1.2017, p. 3), as most recently amended by Regulation (EU) 2021/558 (OJ L 116, 6.4.2021, p. 25), as amended,
4. directly held interests are transferred in full or in part to a subsidiary or
5. the number or identity of the intermediate undertakings changes in the case of fully or partly indirectly held interests, or the interests are now fully or partly held by the investment firm itself or are redistributed among the parties involved.

(2) Summary notifications by large investment firms on participating interests in other enterprises in accordance with section 65 (2) no. 1 of the Investment Firm Act or by investment holding companies in accordance with section 67 (2) sentence 2 of the Investment Firm Act must be submitted as a collection of consecutively numbered partial notifications as of 31 December of the previous year by 15 June of the following year using the “Notification of asset-side participating interests” form in accordance with Annex 6.

(3) Section 33 (1) of the Securities Trading Act (Wertpapierhandelsgesetz) in conjunction with the Securities Trading Reporting Regulation (Wertpapierhandelsanzeigeverordnung), section 34 (1) and 2, section 35 (1) to 3 of the Securities Trading Act in conjunction with the Regulation Implementing the Transparency Directive (Transparenzrichtlinie-Durchführungsverordnung) and section 36 of the Securities Trading Act shall apply mutatis mutandis to the calculation of voting rights in accordance with subsections (1) and (2). This shall not include the voting rights or shares of capital that firms hold in connection with underwriting business in accordance with section 2 (2) no. 2 of the Investment Firm Act, provided that these rights are not exercised or used in any other way to interfere with the issuer’s management and they are sold within one year of being acquired.

(4) If a participating interest meets several notification criteria, only one form is to be used. A separate form must be used for each additional notifiable participating interest, taking into account the requirements of sentence 1. In the case of complex participation structures, the “Description of complex participation structures” form in accordance with Annex 7 must also be attached to the notification. Complex participation structures exist in particular in the case of interests that are held simultaneously directly and indirectly via one or more undertakings, via several chains of holdings, in cooperation with others, in the case of fiduciary relationships or in other cases of attribution of voting rights in accordance with subsection (3) in conjunction with section 34 (1) sentence 1 nos. 2 to 8 and subsection (2) of the Securities Trading Act.

(5) Additional information, in particular on the acquisition price and disposal proceeds, must be provided if required by the Supervisory Authority or the responsible Deutsche Bundesbank Regional Office.

Section 15 Notifications in accordance with section 64 (1) no. 9 or subsection (4) no. 2 of the Investment Firm Act

(1) Individual notifications by investment firms concerning other enterprises’ participating interests in the firm in accordance with section 64 (1) no. 9 of the Investment Firm Act must be submitted using the “Notification of liability-side participating interests” form in accordance with Annex 8. Individual notifications must be submitted for changes in participating interests if

1. the change results in 20 per cent, 30 per cent or 50 per cent of the voting rights or capital of the investment firm being reached, exceeded or fallen below,
2. the investment firm is or is no longer a subsidiary or sister company of another undertaking,
3. directly held interests are transferred in full or in part to an intermediate undertaking or
4. the number or identity of the intermediate undertakings changes in the case of fully or partly indirectly held interests, or the interests are now fully or partly held by the shareholder itself.

(2) Summary notifications concerning other enterprises’ participating interests in the firm in accordance with section 64 (4) no. 2 of the Investment Firm Act must be submitted as of 31 December of the previous year by 15 June of the following year using the “Notification of liability-side participating interests” form in accordance with Annex 8.

(3) Section 14 (3) and (4) applies mutatis mutandis subject to the condition that the corporate relationship between the investment firm and a sister company also constitutes a complex participation structure within the meaning of section 14 (4) sentence 3.

Section 16 Notifications in accordance with section 64 (1) no. 14 of the Investment Firm Act

The intention of an investment firm to merge must be notified by the investment firm involved in accordance with section 64 (1) no. 14 of the Investment Firm Act as soon as it can be assumed on the basis of the negotiations conducted that the merger will take place. The failure of the merger negotiations must be notified without undue delay. The same applies to legal completion of the merger if the merger negotiations are successful.

Section 17 Notification concerning documents in accordance with section 76 (1) sentence 1 of the Investment Firm Act by small and medium-sized investment firms

If the audited annual financial statements are adopted without amendments, notification of this with the date of adoption is sufficient. In this case, submission of the adopted annual financial statements is not required.

Part 5 Authorisation procedure

Section 18 Notifications and submission of documents in accordance with Article 2 of Implementing Regulation (EU) 2017/1945 in conjunction with Delegated Regulation (EU) 2017/1943 in the case of applications for authorisation in accordance with section 15 of the Investment Firm Act

(1) The amount and composition of the investment firm’s own funds in accordance with Article 9 of Regulation (EU) 2019/2033 must be presented as at the close of business on the balance sheet closing date and under the assumption that the audited financial statements are ad

(2) The information required by Article 1(b) of Delegated Regulation (EU) 2017/1943 must be provided

1. for investment services within the meaning of section 2 (2) of the Investment Firm Act and proprietary transactions within the meaning of section 15 (3) and (4) of the Investment Firm Act,
2. for ancillary services within the meaning of section 2 (3) nos. 1, 2 or 4 of the Investment Firm Act and
3. for ancillary business within the meaning of section 2 (4) of the Investment Firm Act.

(3) The general information referred to in Article 1(c) of Delegated Regulation (EU) 2017/1943 must be accompanied by certified copies of the formation documents, the partnership agreement or articles of association and the designated rules of procedure for the management.

(4) With regard to the information on capital in accordance with Article 2 of Delegated Regulation (EU) 2017/1943, a written or electronic confirmation of the available own funds in accordance with Article 9 of Regulation (EU) 2019/2033 by an auditor who would be authorised to audit the applicant’s annual financial statements if authorisation were to be granted must be submitted if required by the Supervisory Authority. If required by the Supervisory Authority, this confirmation must also cover the forecast data in accordance with Article 5(a)(iii) of Delegated Regulation 2017/1943.

(5) For managers, members of the administrative or supervisory body, persons authorised to act as sole representatives of the investment firm in all aspects of its line of business and key function holders, the “Information on reputation and minimum time in accordance with Article 4 of Delegated Regulation (EU) 2017/1943" form in accordance with Annex 4 and, where applicable, the “Ancillary activities of managers of an investment firm or of persons who effectively manage the business of an investment holding company or a mixed financial holding company” form in accordance with in Annex 2 must be submitted.

(6) In addition to the information required by Article 3 of Delegated Regulation (EU) 2017/1943, further information must be provided to the Supervisory Authority if required. Sections 4 and 5 (1) to (5) as well as sections 6 and 8 of the Investment Firm Holder Control Regulation (Wertpapierinstituts- Inhaberkontrollverordnung) apply mutatis mutandis.

(7) Sections 4 to 9 apply mutatis mutandis to the notification of the key function holder in accordance with Article 6(c)(i) of Delegated Regulation (EU) 2017/1943.

(8) Section 10 applies mutatis mutandis to the notification of the substitute in accordance with Article 8(2) in conjunction with (1) (c) and (d) of Delegated Regulation (EU) 2017/1943.

(9) If required by the Supervisory Authority, additional information must be provided and documents submitted to the extent necessary for the assessment to demonstrate that there are no grounds for refusing the application for authorisation.opted. Components of own funds acquired or held through other credit firm, investment firms, financial enterprises, primary insurance companies and reinsurance companies must be listed separately, citing the relevant undertakings.

Part 6 Financial information and reports in accordance with Regulation (EU) 2019/2033

Section 19 Submission of financial information in accordance with section 66 (2) of the Investment Firm Act to the Deutsche Bundesbank

(1) Small and medium-sized investment firms must use the following forms in the annexes to this Regulation to submit financial information in accordance with section 66 (2) of the Investment Firm Act:

1. for the income statement, the “Financial information in accordance with section 66 (2) of the WpIG – Income statement–” in accordance with Annex 9 and
2. for the asset statement, the “Financial information in accordance with section 66 (2) of the WpIG – Asset statement–” in accordance with Annex 10.

(2) The reporting period for the financial information comprises one quarter. The reporting date in each case is the last calendar day of the reporting period.

(3) The financial information must be submitted by close of business on the following dates: 12 May, 11 August, 11 November and 11 February. If the submission date falls on a public holiday, a Saturday or a Sunday, the data must be submitted on the following business day.

(4) The financial information must be transmitted electronically to the Deutsche Bundesbank. The Bundesbank will publish the data formats to be used and the transmission method on its website.

Section 20 Submission of notifications of loans of EUR 1 million or more in accordance with section 66 (1) of the Investment Firm Act

The provisions of Part 2 of the Regulation on Large Loans and Loans of EUR 1 Million or More (Großkredit- und Millionenkreditverordnung), as amended, apply mutatis mutandis to small and medium-sized investment firms with regard to the submission of notifications of loans of EUR 1 million or more in accordance with section 66 (1) of the Investment Firm Act.

Section 21 Reports in accordance with Article 54 or Article 55 of Regulation (EU) 2019/2033

Reports in accordance with Article 54(1) and (2) and Article 55(1) or (2) of Regulation (EU) 2019/2033 must be submitted to the Deutsche Bundesbank. The Deutsche Bundesbank will forward the reports to the Supervisory Authority with its comments. The Supervisory Authority may waive the forwarding of certain reports.

Section 22 Entry into force

This Regulation enters into force on the day following its promulgation.