# Commission Delegated Regulation (EU) 2019/359 of 13 December 2018 supplementing Regulation (EU) 2015/2365 of the European Parliament and of the Council with regard to regulatory technical standards specifying the details of the application for registration and extension of registration as a trade repository (Text with EEA relevance), Article 12: Financial reports and business plans

Extent: E+W+S+N.I.

1. An application for registration as a trade repository shall contain the following financial and business information about the applicant:
(a) a complete set of financial statements, prepared in conformity with international standards adopted in accordance with Article 3 of Regulation (EC) No 1606/2002 of the European Parliament and of the Council;
(b) where the financial statements of the applicant are subject to statutory audit within the meaning given in Article 2(1) of the Directive 2006/43/EC of the European Parliament and of the Council, the financial reports shall include the audit report on the annual and consolidated financial statements;
(c) if the applicant is audited, the name and the national registration number of the external auditor;
2. An application for registration as a trade repository shall contain a financial business plan contemplating different business scenarios for the trade repository services over a minimum three years' reference period and including the following additional information:
(a) the expected level of reporting activity in number of transactions;
(b) the relevant fixed and variable costs identified with respect to the provision of repository services under Regulation (EU) 2015/2365;
(c) positive and negative variations of at least 20 % from the base activity scenario identified.
3. Where the historical financial information referred to in paragraph 1 is not available, an application for registration as a trade repository shall contain the following information about the applicant:
(a) the pro-forma statement demonstrating proper resources and expected business status in six months after registration is granted;
(b) an interim financial report where the financial statements are not yet available for the requested period of time;
(c) a statement of financial position, such as a balance sheet, income statement, changes in equity and of cash flows and notes comprising a summary of accounting policies and other explanatory notes.
4. An application for registration as a trade repository shall contain the audited annual financial statements of any parent undertaking for the three financial years preceding the date of the application.
5. An application for registration as a trade repository shall also contain the following financial information about the applicant:
(a) an indication of any future plans for the establishment of subsidiaries and their location;
(b) a description of the business activities which the applicant plans to carry out, specifying the activities of any subsidiaries or branches.

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Source: https://www.legislation.gov.uk/eur/2019/359/article/12 (the official version)
Page: https://openlegislation.uk/eu-regulation-2019-359/article-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.