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Reporting requirements (FINREP and COREP)

Question:

Which reporting requirements apply to proprietary traders?

Published: 28 February 2024

Answer:

The reporting profiles of investment firms (among other institutions) have recently been updated and aligned with the prevailing practice. See DNB's Regulation (Dutch only) of 9 March 2018 amending the Regulation on Statements of Financial Undertakings under the under the Financial Supervision Act 2011, (Government Gazette 2015, 14843; Wijziging van de Regeling staten financiële ondernemingen Wft 2011, Stcrt. 2018, 14843), which came into effect on 1 April 2018. This means that the reporting period ending on 31 March 2018 must be reported in conformity with this amended supervisory regulation.

You can determine on the basis of the following questions which reporting requirements apply to your investment firm:

(a) Do you comply with all the conditions mentioned in Article 96(1)(b) of the CRR?
If so, you must use the ‘finrep_if_x2 and corep – all forms’ reporting profile. You must submit reports on a quarterly basis, both on a solo and on a consolidated basis.

(b) Do you comply with the CRR definition of ‘local firm’?
If so, the ‘finrep_if_x3’ reporting profile applies to your firm. You must submit reports on a six-month basis.

You should be aware that the question ‘Do you comply with the CRR definition of 'local firm'?’ can only be answered by ‘Yes’ if your firm complies with the definition of ‘local firm’ in Article 4(1)(4) of the CRR. Part (7) of this Q&A (The definition of ‘local firm’ in the CRR) discusses this definition in more detail.

You can find more information on the reporting requirements of investment firms and managers/management companies of investment funds through DNB's web portal.

The reporting template appropriate to your investment firm's profile is available on the Digital Reporting Portal.

Also, it is possible for investment firms – by way of exercise – to fill in the report with the reporting reference date of 31 December 2017 in the first quarter of 2018 before the first official reporting deadline. The first official reporting reference date is 31 March 2018, which report must be submitted to DNB on Monday 14 May 2018 at the latest. Filling in a trial report will enable you to see in time which practical problems may occur when filling in the reports. DNB would therefore advise you to use the opportunity to submit a trial report.