1 Amendments of Jakob von WEIZSÄCKER related to 2017/0359(COD)
Amendment 41 #
Proposal for a regulation
Recital 16
Recital 16
(16) Investment firms should be considered small and non-interconnected for the purposes of the specific prudential requirements for investment firms where they do not conduct investment services which carry a high risk for clients, markets, Union taxpayers or themselves and whose size means they are less likely to cause widespread negative impacts for clients and, markets, and Union taxpayers in case risks inherent in their business materialise or in case they fail. Accordingly, small and non- interconnected investment firms should be defined as those that do not deal on own account or incur risk from trading financial instruments, have no client assets or money under their control, have assets under both discretionary portfolio management and non-discretionary (advisory) arrangements of less than EUR 1.2 billion, handle fewer than EUR 100 million per day of client orders in cash trades or EUR 1 billion per day in derivatives, and have a balance sheet smaller than EUR 100 million and total gross annual revenues from the performance of their investment services of less than EUR 30 million.