{
  "url": "https://openlegislation.uk/eu-directive-2019-2034/article-66",
  "json_url": "https://openlegislation.uk/eu-directive-2019-2034/article-66.json",
  "legislation": "eudr/2019/2034",
  "legislation_title": "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)",
  "legislation_url": "https://openlegislation.uk/eu-directive-2019-2034",
  "path": "article/66",
  "kind": "article",
  "number": "66",
  "heading": "Review",
  "text": "By 26 June 2024, the Commission, in close cooperation with EBA and ESMA, shall submit a report, together with a legislative proposal if appropriate, to the European Parliament and to the Council, on the following:\n(a) the provisions on remuneration in this Directive and in Regulation (EU) 2019/2033 as well as in Directives 2009/65/EC and 2011/61/EU with the aim of achieving a level playing field for all investment firms active in the Union, including the application of those provisions;\n(b) the appropriateness of the reporting and disclosure requirements in this Directive and in Regulation (EU) 2019/2033, taking into account the principle of proportionality;\n(c) an assessment, which shall take into account the EBA report referred to in Article 35 and the taxonomy on sustainable finance, on whether any:\n(i) ESG risks are to be considered for an investment firm’s internal governance;\n(ii) ESG risks are to be considered for an investment firm’s remuneration policy;\n(iii) ESG risks are to be considered for the treatment of risks;\n(iv) ESG risks are to be included in the supervisory review and evaluation process;\n(d) the effectiveness of information‐sharing arrangements under this Directive;\n(e) the cooperation of the Union and Member States with third countries in the application of this Directive and of Regulation (EU) 2019/2033;\n(f) the implementation of this Directive and of Regulation (EU) 2019/2033 to investment firms on the basis of their legal structure or ownership model;\n(g) the potential for investment firms to pose a risk of disruption in the financial system with serious negative consequences to the financial system and the real economy and appropriate macroprudential tools to address such a risk and replace the requirements of point (d) of Article 36(1) of this Directive;\n(h) the conditions under which the competent authorities may apply to investment firms, in accordance with Article 5 of this Directive, the requirements of Regulation (EU) No 575/2013.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudr/2019/2034/article/66",
    "retrieved_at": "2026-11-01T15:21:24.905072+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}