What changed, Commission Delegated Regulation (EU) 2022/930 of 10 March 2022 supplementing Regulation (EU) No 600/2014

+ ### Article 1 — Scope
− ### art_1
+ This Delegated Regulation shall apply to ‘data reporting services providers’ (or ‘DRSPs’), as defined in Article 2(1), point (36a), of Regulation (EU) No 600/2014, that are subject to ESMA supervision.
− Article 1
+ ### Article 1a — Recovery of supervisory costs in full
− For the purpose of this Regulation ‘data reporting services provider’, or ‘DRSP’, means an approved publication arrangement or an approved reporting mechanism as defined in Article 2(1)(34) and Article 2(1)(36) of Regulation (EU) No 600/2014.
+ The fees charged to DRSPs shall cover:
− ### art_2
+ (a) all direct and indirect costs relating to the authorisation and supervision of DRSPs by ESMA in accordance with Regulation (EU) No 600/2014;
− Article 2
+ (b) all costs for the reimbursement of competent authorities that have carried out work pursuant to Regulation (EU) No 600/2014, in particular as a result of any delegation of tasks in accordance with Article 38o of that Regulation.
− Where a DRSP applies for authorisation to provide data reporting services it shall pay:
+ ### Article 2 — Application and authorisation fees
− | (a) | for APAs and ARMs an application fee of EUR 20 000 for the first application and EUR 10 000 for each following application for authorisation of additional data reporting services in case the applicant does not have a derogation in accordance with Commission Delegated Regulation (EU) 2022/466…
− | --- | --- |
+ Where a DRSP applies for authorisation to provide data reporting services it shall pay:
− | (b) | for APAs and ARMs an authorisation fee of EUR 80 000 for the first authorisation and EUR 40 000 for each following authorisation of additional data reporting services, in case the applicant does not have a derogation in accordance with Delegated Regulation (EU) 2022/466. |
− | --- | --- |
+ (a) for APAs and ARMs an application fee of EUR 20 000 for the first application and EUR 10 000 for each following application for authorisation of additional data reporting services;
− ### art_3
+ (b) for APAs and ARMs an authorisation fee of EUR 80 000 for the first authorisation and EUR 40 000 for each following authorisation of additional data reporting services;
− Article 3
+ (c) for CTPs an authorisation fee of EUR 100 000 for the first authorisation and EUR 50 000 for each following authorisation of additional data reporting services.
− 1. A DRSP which is subject to ESMA supervision shall be charged an annual supervisory fee.
+ ### Article 3 — Annual supervisory fees for APAs and ARMs
− 2. The total annual supervisory fee and the annual supervisory fee for a given DRSP shall be calculated as follows:
+ **1.** APAs and ARMs which are subject to ESMA supervision shall be charged an annual supervisory fee.
− | (a) | the total annual supervisory fee for a given year (n) shall be the estimate of expenditure relating to the supervision of data reporting services providers’ activities under Regulation (EU) No 600/2014 as included in ESMA’s budget for that year; |
− | --- | --- |
+ **2.** The total annual supervisory fee and the annual supervisory fee for a given APA or ARM shall be calculated as follows:(a) the total annual supervisory fee for a given year (*n*) shall be the estimate of expenditure relating to the supervision of APAs’ and ARMs’ activities under Regulation (EU…
− | (b) | a data reporting services provider’s annual supervisory fee for a given year (n) shall be the total annual supervisory fee determined pursuant to point (a) divided between all data reporting services providers authorised in year (n), in proportion to their applicable turnover calculated purs…
− | --- | --- |
+ **3.** In no case shall an APA or ARM authorised by ESMA pay an annual supervisory fee of less than EUR 30 000 .
− 3. In no case shall an APA or ARM authorised by ESMA pay an annual supervisory fee of less than EUR 30 000.
+ An APA or ARM that is subject to minimum supervisory fees for more than one data reporting service shall pay the minimum supervisory fee for each service provided.
− In case an entity is subject to minimum supervisory fees for more than one data reporting service, it shall pay the minimum supervisory fee for each service provided.
+ **4.** By way of derogation from paragraphs 2 and 3, and without prejudice to Article 2, the first-year fee for APAs and ARMs shall be equal to the amount of the authorisation fee referred to in Article 2(1), point (b), multiplied by a factor that is equal to the days between authorisation and the e…
− 4. By way of derogation of paragraphs 2 and 3, the first-year fee shall be calculated by lessening the authorisation fee referred to in Article 2(1), point (b) with a factor that is equal to the days between authorisation and the end of the year divided by the total number of days in that year. It s…
+ DRSP first-year fee = Authorisation fee × Coefficient
− data reporting services provider first-year fee = Min (Authorisation fee, Authorisation fee * Coefficient)
+ An APA or ARM that is authorised during the month of December shall not pay the first-year annual supervisory fee.
− Where a DRSP is authorised during the month of December, it shall not pay the first-year supervisory fee.
+ **5.** By way of derogation from paragraphs 2 and 3, where the reassessment referred to in Article 1(3) of Commission Delegated Regulation (EU) 2022/466 (1) results in the derogation of ESMA supervision of an APA or ARM, the annual supervisory fee for the year in which the derogation applies shall b…
− 5. By way of derogation from paragraphs 2 and 3, where the reassessment referred to in Article 1(3) of Delegated Regulation (EU) 2022/466 results in the derogation of ESMA supervision of a DRSP, the annual supervisory fee for the year in which the derogation applies shall be calculated solely for th…
+ **6.** By way of derogation from paragraphs 2 and 3, where the reassessment referred to in Article 1(3) of Delegated Regulation (EU) 2022/466 results in ESMA supervision of an APA or ARM, the annual supervisory fee for the year in which ESMA supervision starts to apply shall be calculated solely for…
− ### art_4
+ ### Article 3a — Annual supervisory fees for CTPs
− Article 4
+ **1.** A CTP which is subject to ESMA supervision shall be charged an annual supervisory fee.
− 1. DRSPs shall keep audited accounts for the purposes of this Regulation which distinguish between at least the following:
+ **2.** The total annual supervisory fee and the annual supervisory fee for each individual CTP, shall be calculated as follows:(a) the total annual supervisory fee for a given year (*n*) shall be the estimate of expenditure relating to the supervision of the CTPs’ activities under Regulation (EU) No…
− | (a) | revenues generated from ARM services; |
− | --- | --- |
+ **3.** By way of derogation from paragraph 2, where a CTP becomes operational before 1 July of a given year (*n*), the annual supervisory fee for that CTP for years (*n*) and (*n*+1) shall be calculated as follows:(a) for year (*n*), paragraphs 4 and 5 shall apply;(b) for year (*n*+1), the annual su…
− | (b) | revenues generated from APA services; |
− | --- | --- |
+ By way of derogation from paragraph 2, where a CTP becomes operational on or after 1 July of a given year (*n*), the annual supervisory fee for years (*n*), (*n*+1) and (*n*+2) shall be calculated as follows:
− | (c) | revenues generated from ancillary services to ARM activities; |
− | --- | --- |
+ (a) for year (*n*), paragraphs 4 and 5 shall apply;
− | (d) | revenues generated from ancillary services to APA activities. |
− | --- | --- |
+ (b) for years (*n*+1) and (*n*+2), the annual supervisory fee shall be EUR 400 000 for each year.
− 2. The applicable turnover of a DRSP for a given year (n) shall be the sum of:
+ A CTP shall be deemed to become operational on the day of the authorisation granted by ESMA pursuant to Article 27db of Regulation (EU) No 600/2014 or on the day following the expiry of the transition period referred to in Article 27db(4) of Regulation (EU) No 600/2014, where that transition period …
− | (a) | its revenues generated from the core functions of the provision of ARM or APA services on the basis of the audited accounts of the year (n-2), or, if they are not yet available of the year previous to that (n-3) and |
− | --- | --- |
+ **4.** The annual supervisory fee for year (*n*) referred to in paragraph 3 shall be equal to the amount of the annual supervisory fee of EUR 400 000 multiplied by a factor that is equal to the days between the day when a CTP becomes operational and the end of year (*n*) divided by the total number …
− | (b) | its applicable revenues from ancillary services on the basis of audited accounts of the year (n-2), or, if they are not yet available of the year previous to that (n-3),divided by the sum of: |
− | --- | --- |
+ CTP fee for the year (*n*) = EUR 400 000 × Coefficient
− | (c) | the total revenues of all authorised ARMs or APAs generated from core functions of provision of ARM or APA services on the basis of the audited account during the year (n-2), or, if they are not yet available of the year previous to that (n-3) and |
− | --- | --- |
+ **5.** Without prejudice to Article 2, where ESMA has granted a CTP a transition period pursuant to Article 27db(4) of Regulation (EU) No 600/2014, the annual supervisory fee for year (*n*) shall also include a fee for the days between the day of the authorisation and the day when a CTP becomes oper…
− | (d) | the total applicable revenues from ancillary services of all ARMs or APAs on the basis of audited accounts during the year (n-2), or, if they are not yet available of the year previous to that (n-3). |
− | --- | --- |
+ CTP fee for the days between the authorisation and the day when a CTP becomes operational = Authorisation fee × Coefficient
− 3. Where the data reporting services provider did not operate during the full year (n-2), its applicable turnover shall be estimated according to the formula set out in paragraph 2 by extrapolating for the data reporting services provider the values calculated for the number of months during which t…
+ **6.** By way of derogation from paragraph 2, where the annual supervisory fee for at least one CTP is calculated in accordance with paragraph 3 and the annual supervisory fee for at least one other CTP is not calculated in accordance with that paragraph, the annual supervisory fee for that other CT…
− 4. DRSPs shall provide ESMA, on an annual basis, with audited accounts as referred to in paragraph 1. The documents shall be submitted to ESMA by electronic means no later than 30 September each year (n-1). If a DRSP authorised after 30 September, it shall provide the figures immediately upon author…
+ ### Article 4 — Applicable turnover
− ### art_5
+ **1.** DRSPs shall keep audited accounts for the purposes of this Regulation which distinguish between at least the following:(a) revenues generated from ARM services;(b) revenues generated from APA services;(c) revenues generated from ancillary services to ARM activities;(d) revenues generated from…
− Article 5
+ **2.** The applicable turnover of a DRSP for a given year (*n*) shall be the sum of:(a) its revenues generated from the core functions of the provision of ARM, APA or CTP services on the basis of the audited accounts of the year (*n*-2), or, where those audited accounts are not yet available of the …
− 1. All fees shall be payable in euro. They shall be paid as specified in Articles 6 and 7.
+ **3.** Where the data reporting services provider did not operate during the full year (n-2), its applicable turnover shall be estimated according to the formula set out in paragraph 2 by extrapolating for the data reporting services provider the values calculated for the number of months during whi…
− 2. Any late payments shall incur the default interest laid down in Article 99 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council (4).
+ **4.** DRSPs shall provide ESMA, on an annual basis, with audited accounts as referred to in paragraph 1. The documents shall be submitted to ESMA by electronic means no later than 30 September each year (n-1). If a DRSP authorised after 30 September, it shall provide the figures immediately upon au…
− ### art_6
+ **5.** Where the revenues referred to in paragraph 1 are reported in a currency other than the euro, ESMA shall convert those revenues into euro using the average euro foreign exchange rate applicable to the period during which the revenues were recorded.
− Article 6
+ For that purpose, ESMA shall use the euro foreign exchange reference rate published by the European Central Bank.
− 1. The fees for application, authorisation or extension of authorisation shall be due at the time the DRSP applies and shall be paid in full within 30 days from the date of issuance of ESMA’s invoice.
+ ### Article 5 — General payment modalities
− 2. When a DRSP decides to withdraw its application for authorisation before ESMA adopts its reasoned decision to authorise or refuse authorisation, the application or authorisation fees shall not be reimbursed.
+ **1.** All fees shall be payable in euro. They shall be paid as specified in Articles 6 and 7.
− ### art_7
+ **2.** Any late payments shall incur the default interest laid down in Article 99 of Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council (2).
− Article 7
+ ### Article 6 — Payment of application and authorisation fees
− 1. The annual supervisory fee referred to in Article 3 shall be due at the beginning of each calendar year and paid in full to ESMA in the first three months of that year. ESMA shall submit an invoice specifying the full amount of the supervisory fee at the latest thirty days before the final paymen…
+ **1.** The fees for application, authorisation or extension of authorisation shall be due at the time the DRSP applies and shall be paid in full within 30 days from the date of issuance of ESMA’s invoice.
− 2. When a DRSP decides to withdraw its authorisation, the annual supervisory fee shall not be reimbursed.
+ **2.** When a DRSP decides to withdraw its application for authorisation before ESMA adopts its reasoned decision to authorise or refuse authorisation, the application or authorisation fees shall not be reimbursed.
− ### art_8
+ ### Article 7 — Payment of annual supervisory fees
− Article 8
+ **1.** The annual supervisory fee referred to in Article 3 shall be due at the beginning of each calendar year and paid in full to ESMA in the first three months of that year. ESMA shall submit an invoice specifying the full amount of the supervisory fee at the latest thirty days before the final pa…
− 1. In case of a delegation of tasks by ESMA to national competent authorities, the national competent authority shall not recover costs incurred while carrying out supervisory tasks delegated by ESMA directly from the DRSP.
+ **2.** When a DRSP decides to withdraw its authorisation, the annual supervisory fee shall not be reimbursed.
− 2. ESMA shall reimburse a competent authority for the actual costs incurred as a result of work carried out pursuant to Regulation (EU) No 600/2014, in particular as a result of any delegation of tasks pursuant to Article 38o of Regulation (EU) No 600/2014.
+ ### Article 8 — Reimbursement of national competent authorities
− 3. ESMA shall ensure that the costs to be reimbursed to national competent authorities fulfil the following conditions:
+ **1.** In case of a delegation of tasks by ESMA to national competent authorities, the national competent authority shall not recover costs incurred while carrying out supervisory tasks delegated by ESMA directly from the DRSP.
− | (a) | they should be previously agreed between ESMA and the NCA; |
− | --- | --- |
+ **2.** ESMA shall reimburse a competent authority for the actual costs incurred as a result of work carried out pursuant to Regulation (EU) No 600/2014, in particular as a result of any delegation of tasks pursuant to Article 38o of Regulation (EU) No 600/2014.
− | (b) | they should be proportionate to the turnover of the relevant DRSP; and |
− | --- | --- |
+ **3.** ESMA shall ensure that the costs to be reimbursed to national competent authorities fulfil the following conditions:(a) they should be previously agreed between ESMA and the NCA;(b) they should be proportionate to the turnover of the relevant DRSP; and(c) they should not be greater than the t…
− | (c) | they should not be greater than the total amount of supervisory fees paid by the relevant DRSP. |
− | --- | --- |
+ **4.** Any delegation of tasks by ESMA to national competent authorities shall be determined on an independent basis, may be revoked at any time and shall not impact the amount of fees charged to a particular DRSP.
− 4. Any delegation of tasks by ESMA to national competent authorities shall be determined on an independent basis, may be revoked at any time and shall not impact the amount of fees charged to a particular DRSP.
+ ### Article 9 — Transitional provision for 2022
− ### art_9
+ **1.** For the purposes of the calculation of the annual supervisory fee applicable to DRSPs under ESMA supervision for the year 2022, ESMA shall collect a fixed fee, based on the following calculations:(a) EUR 350 000 for APAs that published transactions which accounted for more than 10 % of the to…
− Article 9
+ **2.** ESMA shall provide the APAs and ARMs concerned with an invoice specifying the full amount of the fees for 2022 as soon as practically possible after this Regulation has started to apply, and at the latest thirty days before the final payment date.
− 1. For the purposes of the calculation of the annual supervisory fee applicable to DRSPs under ESMA supervision for the year 2022, ESMA shall collect a fixed fee, based on the following calculations:
+ ### Article 10 — Transitional provision for 2023
− | (a) | EUR 350 000 for APAs that published transactions which accounted for more than 10 % of the total number of published transactions of all authorised APAs, either for equity or non-equity instruments, in the first 6 months of 2021, as reported by the competent authority concerned; |
− | --- | --- |
+ **1.** DRSPs supervised by ESMA as of 1 January 2023 shall be charged an annual supervisory fee for 2023 calculated in accordance with Article 3. However, for the purposes of Article 4(2), the applicable turnover of DRSPs shall be calculated in accordance with paragraph 2.
− | (b) | EUR 50 000 for APAs that published transactions which accounted for less than 10 % of the total number of published transactions of all authorised APAs, either for equity or non-equity instruments, in the first 6 months of 2021, as reported by the competent authority concerned; |
− | --- | --- |
+ **2.** For the purposes of paragraph 1, the applicable turnover of a DRSP shall be the sum of:(a) the DRSP’s revenues generated from the core functions of the provision of ARM or APA services in the first 6 months of 2022 and(b) the DRSP’s revenues generated from ancillary services to ARM or APA act…
− | (c) | EUR 650 000 for ARMs that submitted transaction reports to the relevant competent authority which accounted for more than 10 % of the total number of transaction reports submitted to competent authorities by all authorised ARMs in the first 6 months of 2021, as reported by the competent auth…
− | --- | --- |
+ **3.** As soon as the audited accounts for the year 2022 become available, the DRSPs referred to in paragraph 1 shall immediately report those audited accounts to ESMA in accordance with Article 4(1).
− | (d) | EUR 50 000 for ARMs that submitted transaction reports to the relevant competent authority which accounted for less than 10 % of the total number of transaction reports submitted to competent authorities by all authorised ARMs in the first 6 months of 2021, as reported by the competent autho…
− | --- | --- |
+ **4.** ESMA shall calculate whether there is any difference between the annual supervisory fee for 2023 paid by the DRSP in accordance with paragraph 2 and the annual supervisory fee due for 2023 calculated on the basis of the audited accounts received in accordance with paragraph 3.
− 2. ESMA shall provide the APAs and ARMs concerned with an invoice specifying the full amount of the fees for 2022 as soon as practically possible after this Regulation has started to apply, and at the latest thirty days before the final payment date.
+ **5.** ESMA shall provide the DRSPs a first invoice specifying the amount of the supervisory fee for 2023 as referred to in paragraph 2 at the latest thirty days before the final payment date.
− ### art_10
− 
− Article 10
− 
− 1. DRSPs supervised by ESMA as of 1 January 2023 shall be charged an annual supervisory fee for 2023 calculated in accordance with Article 3. However, for the purposes of Article 4(2), the applicable turnover of DRSPs shall be calculated in accordance with paragraph 2.
− 
− 2. For the purposes of paragraph 1, the applicable turnover of a DRSP shall be the sum of:
− 
− | (a) | the DRSP’s revenues generated from the core functions of the provision of ARM or APA services in the first 6 months of 2022 and |
− | --- | --- |
− 
− | (b) | the DRSP’s revenues generated from ancillary services to ARM or APA activities in the first 6 months of 2022,divided by the sum of: |
− | --- | --- |
− 
− | (c) | the total revenues of all authorised ARMs or APAs generated from core functions of provision of ARM or APA services in the first 6 months of 2022 and |
− | --- | --- |
− 
− | (d) | the total revenues generated from ancillary services to ARM or APA activities of all ARMs or APAs in the first 6 months of 2022. |
− | --- | --- |
− 
− DRSPs shall, by 30 September 2022, inform ESMA about the amount of revenues generated from the core functions of the provision of ARM or APA services in the first 6 months of 2022 and about the amount of the revenues from ancillary services to ARM or APA activities in the first 6 months of 2022.
− 3. As soon as the audited accounts for the year 2022 become available, the DRSPs referred to in paragraph 1 shall immediately report those audited accounts to ESMA in accordance with Article 4(1).
− 
− 4. ESMA shall calculate whether there is any difference between the annual supervisory fee for 2023 paid by the DRSP in accordance with paragraph 2 and the annual supervisory fee due for 2023 calculated on the basis of the audited accounts received in accordance with paragraph 3.
− 
− 5. ESMA shall provide the DRSPs a first invoice specifying the amount of the supervisory fee for 2023 as referred to in paragraph 2 at the latest thirty days before the final payment date.
− 
+ ### Article 11 — Entry into force and date of application
− ### art_11
+ This Regulation shall enter into force and apply on the third day following that of its publication in the *Official Journal of the European Union*.
− Article 11
− 
− This Regulation shall enter into force and apply on the third day following that of its publication in the Official Journal of the European Union.