Commission Implementing Regulation (EU) 2022/1220 of 14 July 2022 laying down implementing technical standards for the application of Directive 2014/65/EU of the European Parliament and of the Council with regard to the format in which branches of third-country firms and competent authorities have to report the information referred to in Article 41(3) and (4) of that Directive (Text with EEA relevance)

L 188/98 EN Official Journal of the European Union 15.7.2022 COMMISSION IMPLEMENTING REGULATION (EU) 2022/1220 of 14 July 2022 laying down implementing technical standards for the application of Directive 2014/65/EU of the European Parliament and of the Council with regard to the format in which branches of third- country firms and competent authorities have to report the information referred to in Article 41(3) and (4) of that Directive (Text with EEA relevance) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU(1), and in particular Article 41(6) thereof, Whereas: (1) It is necessary to ensure that the European Securities and Markets Authority (ESMA) and the competent authorities concerned receive all information necessary to supervise branches of third-country firms, and to ensure that such information is processed in an efficient and swift manner. The information referred to in Article 41(3) and (4) of Directive 2014/65/EU should therefore be submitted in a language that is customary in the sphere of international finance. (2) Article 39(2) of Directive 2014/65/EU requires that branches of third-country firms that wish to provide investment services or to perform investment activities in the territory of a Member State, acquire prior authorisation of the competent authority of that Member State. Such branches are not allowed to provide investment services or perform investment activities in other Member States than the Member State where those branches received their authorisation. The European Commission can, however, adopt an equivalence decision in accordance with Article 47(1) of Regulation (EU) No 600/2014 of the European Parliament and of the Council(2)stating that the legal and supervisory arrangements of that third country with regard to investment firms are equivalent to those that apply in the Union. In such a case, the authorised branches of investment firms that fall under the scope of such an equivalence decision would continue to be supervised by the competent authority of the Member State in which those branches are established, irrespective of whether they provide cross border services or performs cross border activities. It is therefore necessary to ensure that the format for the reporting of the information referred to in Article 41(3) of Directive 2014/65/EU is also apt for the reporting on such cross-border services and activities of those branches. (3) According to Article 41(3) of Directive 2014/65/EU, branches of third-country firms that have been authorised in accordance with Article 41(1) of that Directive are to report to the competent authority of the Member State where that authorisation was granted, on an annual basis, the information laid down in that Article 41(3). In order to harmonise not only the format, but also the timing of reporting, it is necessary to include a timeframe when that information is to be provided to competent authorities. (4) This Regulation is based on the draft implementing technical standards submitted to the Commission by ESMA. (5) ESMA has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the advice of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council(3), (1) OJ L 173, 12.6.2014, p. 349. (2) Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (OJ L 173, 12.6.2014, p. 84). (3) Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).15.7.2022 EN Official Journal of the European Union L 188/99 HAS ADOPTED THIS REGULATION: Article 1 Format of the information to be reported annually to competent authorities by branches of third-country firms 1. The branch of a third-country firm authorised in accordance with Article 41(1) of Directive 2014/65/EU shall use the format set out in Annex I to report the information referred to in Article 41(3) of that Directive. However, where the third- country firm is subject to an equivalence decision as referred to in Article 47(1) of Regulation (EU) No 600/2014, the branch of such third-country firm shall use the format set out in Annex II for those services and activities that are covered by such equivalence decision. 2. The information referred to in paragraph 1 shall be submitted in a language customary in the sphere of international finance. 3. The information referred to in paragraph 1 shall be submitted by 30 April of each year and shall cover the period from 1 January to 31 December of the preceding calendar year. The information provided shall be accurate as of 31 December of the preceding year. Article 2 Format of the information to be reported to the European Securities and Markets Authority (ESMA) on request by competent authorities For the purpose of Article 41(4) of Directive 2014/65/EU, competent authorities shall report the following fields from Annex I and II to ESMA: 1. Reporting Period: 1a and 1b and, where applicable, 19a and 19b; 2. Name of the third-country firm and the branch: 2a and 2d and, where applicable, 20a and 20d; 3. Investment services, investment activities and ancillary services provided by the branch: 3a, 3b, 3c, 3d, 3e, 3f, 3g and 3h and, where applicable, 21a, 21b, 21c, 21d, 21e, 21f, 21g and 21h; 4. Number of clients and counterparties and number of staff of the branch: 4a, 4b, 4c, 4d and, where applicable, 22a, 22b and 22c; 5. Turnover and aggregated value of the assets of the branch: 5a, 5b, 5c and, where applicable, 23a, 23b and 23c. Article 3 Entry into force This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 14 July 2022. For the Commission The President Ursula VON DER LEYENL 188/100 EN Official Journal of the European Union 15.7.2022 ANNEX I Format for submitting the information referred to in Article 41(3) and 41(4) of Directive 2014/65/EU(1) # Field Sub-fields 1a Reporting period The reporting start date for the calendar year (YYYY-MM-DD) 1b The reporting end date for the calendar year (YYYY-MM-DD) 2a Name and contact details of the third- Full corporate name of the branch and the Legal Entity Identifier code country firm, including the details of (LEI) the branch, of the person in charge of 2b submitting the information, and of the Address of the branch authorities of the third country responsible for the supervision of the (to be provided in case of any change to the information previously reported to third-country firm the competent authority) 2c Contact details of the branch including email address, phone number and website details 2d Full legal name of the third-country firm and, where available, the Legal Entity Identifier (LEI) (to be provided in case of any change to the information previously reported to the competent authority) 2e Registered address for the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) 2f Contact details of the third-country firm including email address, phone number, and website details 2g Country of the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) 2h Name, address and country of the authority responsible for the supervision of the third-country firm in the third country. When more than one authority is responsible for the supervision of the third-country firm, the details and the respective areas of competence per authority shall be provided (to be provided in case of any change to the information previously reported to the competent authority) 2i Contact person full name 2j Contact person address 2k Contact person phone number 2l Contact person email address 2m Contact person function/title (1) Any information with regard to the provision of cross-border services by branches of third-country firms is covered by Annex II.15.7.2022 EN Official Journal of the European Union L 188/101 3a Investment services, investment The list of investment services, investment activities and ancillary activities and ancillary services services (as specified in Sections A and B of Annex I to Directive provided by the branch in the 2014/65/EU) provided by the branch in the Member State where it is Member State where the branch is established established, during the reporting 3b period The list of categories of financial instruments (as specified in Section C of Annex I to Directive 2014/65/EU) in relation to which such services and activities have been performed 3c Where the branch provides portfolio management, the total value of the assets under management for clients in the Member State where the branch is established at the end of the reporting period 3d Where the branch provides portfolio management, the average value of the assets under management for clients in the Member State where the branch is established over the reporting period 3e Where the branch provides investment advice, the total value of the assets in relation to which investment advice has been provided to clients in the Member State where the branch is established at the end of the reporting period 3f Where the branch provides investment advice, the average value of the assets in relation to which investment advice has been provided to clients in the Member State where the branch is established during the reporting period 3g Where the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the total value of the assets (including cash) held by the branch for clients in the Member State where the branch is established at the end of the reporting period 3h Where the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the average value of the assets (including cash) held by the branch for clients in the Member State where the branch is established during the reporting period 4a Number of clients and counterparties The total number of clients and counterparties of the branch in the and number of staff of the branch in the Member State where it is established Member State where the branch is 4b established, during the reporting The breakdown of the total number of clients and counterparties of the period branch in the Member State where it is established per investment service, investment activity or ancillary service provided in that Member State 4c The numbers of retail clients, professional clients and eligible counterparties (as set out in Directive 2014/65/EU) to whom the branch is providing investment services, investment activities or ancillary services in the Member State where it is established. 4d The breakdown of the number of staff of the branch in the Member State where it is established per investment service, investment activity or ancillary service provided in the Member State.L 188/102 EN Official Journal of the European Union 15.7.2022 5a Turnover and aggregated value of the The turnover generated by the branch and the aggregated value of the assets of the branch in the Member assets corresponding to the investment services, investment activities State where the branch is established, and ancillary services provided in the Member State where the branch is during the reporting period established 5b The breakdown of the turnover of the branch in the Member State where it is established per investment service, investment activity and ancillary service provided in that Member State 5c The breakdown of the turnover of the branch in the Member State where it is established per category of client as set out in Directive 2014/65/EU 6 Where the branch deals on own The monthly minimum, average and maximum exposure to account, information on the exposure counterparties in the Member State where the branch is established of the third-country firm during the reporting period to counterparties in the Member State where the branch is established 7 Where the branch underwrites The total value and number of financial instruments originating from financial instruments and/or places counterparties in the Member State where the branch is established and financial instruments on a firm underwritten or placed on a firm commitment basis by the branch commitment basis, information about the value of the financial instruments originating from counterparties in the Member State where the branch is established and is underwritten or placed on a firm commitment basis, during the reporting period 8a Composition of the management body The list of members of the management body of the third-country firm of the third-country firm 8b For each member of the management body, the member’s full name, country of domicile and contact details 8c The position at which each member of the management body is appointed 9a Key function holders for the activities The list of key function holders for the activities of the branch of the branch 9b For each key function holder, the person’s full name, country of domicile and contact details 9c The position at which each key function holder is appointed 9d The reporting lines between the key function holders and the third- country firm’s management body 10 Information about complaints The number of complaints received by the branch or by the third- received by the branch or by the country firm in relation to the activities of the branch in the Member third-country firm in relation to the State where it is established, together with: activities of the branch in the — a breakdown for the five financial instruments generating the high­ Member State where the branch is est number of complaints; established and during the reporting — a breakdown for the five most frequent topics of the complaints; period15.7.2022 EN Official Journal of the European Union L 188/103 — the number of complaints handled over the reporting period — the arrangements in place to diligently treat the complaints 11a Description of the marketing activities A description of the marketing strategy of the branch or of the third- of the branch or of the third-country country firm used in the Member State where the branch is established firm in relation to the activities of the in relation to the activities of the branch, including details about its branch in the Member State where the geographical scope and the marketing means the third-country firm branch is established and during the used (such as any agents, roadshows, telephone calls, websites) reporting period 11b The list of trading names used by the branch of the third-country firm in the Member State where the branch is established, together with, for each trading name: — the categories of financial instruments in relation to which it is used; and — the categories of clients in relation to which it is used 11c For any agents or similar entities used by the branch of the third- country firm in that Member State, the name of the individual or entity together with the address and contact details 11d The list of websites used by the branch in the Member State where the branch is established, together with, for each website, its URL 12a Description of the investor protection Information and reporting to clients arrangements of the third-country firm available to the clients of the Description of the arrangements set up by the third-country firm as branch in the Member State where regards its information and reporting obligations to clients and the branch is established, including implementing measures for the operations of the branch in the the rights of those clients resulting Member State where it is established from the investor-compensation 12b scheme referred to in Article 39(2), The language(s) the branch will use with its clients in the Member State point (f), of Directive 2014/65/EU where the branch is established (to be provided in case of any change to the 12c Suitability and appropriateness information previously reported to the competent authority) Description of the arrangements of the third-country firm to assess suitability or appropriateness, as the case may be, when the branch provides services to clients in the Member State where it is established 12d Best execution Where the branch executes orders for its clients in the Member State where it is established, description of the arrangements set up to execute client orders on terms most favourable to the clients 12e Client order handling rules Where the branch handles client orders, description of the arrangements set up by the branch for the prompt, fair and expeditious execution of client orders with a focus on the operations of the branch in the Member State where the branch is establishedL 188/104 EN Official Journal of the European Union 15.7.2022 12f Product governance arrangements Where the third-country firm manufactures and/or distributes, via its branch, financial instruments, description of the product governance arrangements set up by the third-country firm for the operations of the branch in the Member State where the branch is established 12g The arrangements of the third-country firm to identify, prevent and manage conflicts of interest Description of the measures set up by the third-country firm, acting through its branch, to identify and to prevent or manage conflicts of interest that arise in the course of providing investment and ancillary services, including those arising from the remuneration policy of the persons involved in the provision of investment services, investment activities and ancillary services provided in the Member State where the branch is established 12h The arrangements of the third-country firm to handle complaints Description of the procedure set up by the third-country firm acting through its branch, and to be followed by clients of the branch for lodging a complaint 12i The department responsible for handling the complaints of clients of the branch 12j The language(s) clients must lodge their complaints 12k The relevant courts (in case of litigation) referred to in any contractual arrangements between the third-country firm acting through its branch and its clients in the Member State where the branch is established 12l The alternative dispute resolution entity/ies competent to deal with disputes involving clients in the Member State where the branch is established and the third-country firm 12m The third-country firm’s membership of an investor compensation scheme The description of the third-country firm’s membership of an investor compensation scheme including whether clients and counterparties of the branch will be eligible to such scheme, its scope, a description of the eligibility conditions and the amounts and financial instruments covered by the scheme 12n The arrangements of the third-country firm to protect and manage client funds and assets The description of any client fund or client asset safeguarding arrangements (in particular, where financial instruments and funds are held in a custodian, the name of the custodian, and related contracts) put in place in the Member State where the branch is established15.7.2022 EN Official Journal of the European Union L 188/105 12o Other arrangements The description of any other arrangements that the third-country firm may deem relevant to the provision of services and performance of the activities of the branch in the Member State where the branch is established in an honest, fair and professional manner that promotes the interests of clients 13a Information on the outsourcing The list and description of the outsourced functions (or those intended arrangements of the third-country to be outsourced) firm applicable to the operations of 13b the branch The description of the resources (in particular, human and technical, and the internal control system) allocated to the control of the (to be provided in case of any change to the outsourced functions, services or activities insofar as they are related information previously reported to the to the operations of the branch in the Member State where it is competent authority) established 14 Information on the arrangements Description of any arrangements and resources (in particular human (including IT arrangements) set up by and IT resources) that the third-country firm may have put in place the third-country firm applicable to and/or allocated for the activities of its branch in the Member State the activities of the branch for where the branch is established for algorithmic trading, high algorithmic trading, for high frequency trading and direct electronic access and for the control of frequency trading and for direct such activities electronic access (to be provided in case of any change to the information previously reported to the competent authority) 15a Information on the activities of the Regulatory changes compliance function (or equivalent) Description of the management and implementation of material changes and developments in regulatory requirements during the reporting period which impact the investor protection arrangements for the activities of the branch of the third-country firm 15b Findings The number of controls performed on-site and outsourced and a summary of major findings of the compliance function on the operations of the third-country firm insofar as they are relevant to the operations of the branch 15c Actions taken or to be taken (including following complaints or deviation from compliance function’s recommendations addressed to senior management) to address identified failures or risks of failures by the third-country firm insofar as they relate to the operations of the branch 15d Other Any other information that the branch may find relevant to mentionL 188/106 EN Official Journal of the European Union 15.7.2022 16a Information on the activities of the Findings internal audit function (or equivalent) A summary of major findings of the internal audit function on the operations of the third-country firm insofar as they are relevant to the operations of the branch 16b Actions taken or to be taken globally (including timeline and organisational units of the third-country firm involved) to address identified failures or risks of failures by the third-country firm insofar as they relate to the operations of the branch 17a Information on the activities of the risk Risk management policy management function (or equivalent) and the risk management policy of the A summary of the risk management policy of the third-country firm third-country firm insofar as it relates to the operations of the branch and the arrangements applied by the branch for the services and activities carried out by the branch (to be provided in case of any change to the information previously reported to the competent authority) 17b Findings A summary of major findings of the risk management function on the operations of the third-country firm globally and actions taken or to be taken to address those findings 18 Any other information that the branch of a third-country firm may find relevant to communicate to the competent authority of the Member State where it is established.15.7.2022 EN Official Journal of the European Union L 188/107 ANNEX II Format for submitting information referred to in Article 41(3) and 41(4) of Directive 2014/65/EU in case the Commission has taken an equivalence decision as referred to in Article 47(1) of Regulation (EU) No 600/2014 In addition to the information required under Annex I of the present Implementing Regulation, third-country firms that also provide investment services and activities in the European Union, in accordance with Article 47(3) of Regulation (EU) No 600/2014 through the third-country equivalence regime (if effectively recognised as such under Article 47(1) of Regulation (EU) No 600/2014), shall also include the following fields in their report to the competent authority, as required under Article 41(3) of Directive 2014/65/EU: # Field Sub-fields 19a Reporting period The reporting start date for the calendar year (YYYY-MM-DD) 19b The reporting end date for the calendar year (YYYY-MM-DD) 20a Name and contact details of the third- Full corporate name of the branch and Legal Entity Identifier code (LEI) country firm, including the details of where available the branch, of the person in charge of submitting the information, of the 20b Address of the branch authorities of the third country responsible for the supervision of the (to be provided in case of any change to the information previously reported to third-country firm the competent authority) 20c Contact details of the branch including email address, phone number and website details 20d Full legal name of the third-country firm and Legal Entity Identifier (LEI) where available (to be provided in case of any change to the information previously reported to the competent authority) 20e Registered address for the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) 20f Contact details of the third-country firm including email address, phone number, and website details 20g Country of the head office of the third-country firm (to be provided in case of any change to the information previously reported to the competent authority) 20h Name, address and country of the authority responsible for the supervision of the third-country firm in the third country. When more than one authority is responsible for the supervision of the third-country firm, the details and the respective areas of competence per authority shall be provided (to be provided in case of any change to the information previously reported to the competent authority)L 188/108 EN Official Journal of the European Union 15.7.2022 20i Contact person full name 20j Contact person address 20k Contact person phone number 20l Contact person email address 20m Contact person function/title 21a Investment services, investment The list of investment services, investment activities and ancillary activities and ancillary services services (as specified in Sections A and B of Annex I to Directive provided by the branch in each 2014/65/EU) provided to eligible counterparties and professional Member State other than the one clients within the meaning of Section I of Annex II to Directive where it is established, during the 2014/65/EU, in each Member State other than the one where the reporting period branch is established 21b The list of categories of financial instruments (as specified in Section C of Annex I to Directive 2014/65/EU) in relation to which such services and activities have been performed 21c For each Member State other than the one where the branch is established and in which the branch provides portfolio management, the total value of the assets under management for clients in the Member State at the end of the reporting period 21d For each Member State other than the one where the branch is established and in which the branch provides portfolio management, the average value of the assets under management for clients in the Member State over the reporting period 21e For each Member State other than the one where the branch is established and in which the branch provides investment advice, the total value of the assets in relation to which that service has been provided to clients in the Member State at the end of the reporting period 21f For each Member State other than the one where the branch is established and in which the branch provides investment advice, the average value of the assets in relation to which that service has been provided to clients in the Member State over the reporting period 21g For each Member State other than the one where the branch is established and in which the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the total value of the assets (including cash) held by the branch for clients in the Member State at the end of the reporting period 21h For each Member State other than the one where the branch is established and in which the branch provides the ancillary service of safekeeping and administration on financial instruments for the account of clients or is holding client funds, the average value of the assets (including cash) held by the branch for clients in the Member State over the reporting period15.7.2022 EN Official Journal of the European Union L 188/109 22a Number of clients and counterparties The total number of clients and counterparties of the branch in the of the branch in Member States other European Union (excluding the Member State where it is established). than the one where the branch is established and globally, during the 22b The total number of clients and counterparties of the third-country reporting period firm globally 22c For each Member State other than the Member State where the branch is established and in which the branch provided any investment services, investment activities or ancillary services, the total number of clients and counterparties of the branch in that other Member State, together with: — a breakdown of this number per investment service, investment activity or ancillary service provided in each Member State; and — a breakdown per category of client as set out in Directive 2014/65/EU 23a Turnover and aggregated value of the The turnover of the branch in the Union (not including the Member assets of the branch in Member States State where it is established) and the aggregated value of the assets other than the one where the branch is corresponding to the services and activities provided by the third- established and of the third-country country firm in the Union (not including the Member State where it firm globally, during the reporting is established) period 23b The global turnover of the third-country firm 23c For each Member State other than the one where the branch is established and in which the branch provided any investment services, investment activities or ancillary services, the turnover and the aggregated value of the assets corresponding to such investment services, investment activities and ancillary services, together with: — a breakdown per investment service, investment activity or ancil­ lary services provided in the Member State; and — a breakdown per category of client as set out in Directive 2014/65/EU 24a Where the branch deals on own For each Member State other than the one where the branch is account, information on the exposure established and in which the branch deals on own account, the of the third-country firm to monthly minimum, average and maximum exposure to counterparties in the Union (not counterparties in that Member State including the Member State where the branch is established), during the 24b The monthly minimum, average and maximum exposure to reporting period counterparties in the Union (not including the Member State where the branch is established) 25a Where the branch underwrites For each Member State other than the one where the branch is financial instruments and/or places established and in which the branch provides underwriting of financial instruments on a firm financial instruments and/or placing of financial instruments on a commitment basis, information firm commitment basis, the total value of financial instruments about the value of the financial originating from counterparties in the Member State and instruments originating from underwritten or placed on a firm commitment basis by the branchL 188/110 EN Official Journal of the European Union 15.7.2022 25b The total value of financial instruments originating from counterparties in the Union (other counterparties in the Union (other than in the Member State where than in the Member State where the the branch is established) and underwritten or placed on a firm branch is established) and is commitment basis by the branch underwritten or placed on a firm commitment basis during the reporting period 26 Information about complaints The number of complaints received by the branch and/or by the third- received by the branch and/or by the country firm in relation to the activities of the branch in Member States third-country firm in relation to the other than the one where the branch is established, together with: activities of the branch in the Union — a breakdown per Member State; (other than in the Member State — a breakdown for the five financial instruments generating the high­ where the branch is established), est number of complaints; during the reporting period — a breakdown for the five most frequent topics of the complaints; — the number of complaints handled in the reporting period — the arrangements in place to diligently treat the complaints 27a Description of the marketing activities A description of the marketing strategy of the third-country firm used of the branch or of the third-country in the Union (other than in the Member State where the branch is firm in relation to the activities of the established) in relation to the activities of the branch, including details branch in the Union (other than in the about its geographical scope and the marketing means the third- Member State where the branch is country firm used (such as any agents, roadshows, telephone calls, established), during the reporting websites) period 27b The list of trading names used by the third-country firm in the Union (other than in the Member State where the branch is established), together with, for each trading name: — the list of Member States in which it is used; — the categories of financial instruments in relation to which it is used; and — the categories of clients in relation to which it is used 27c For any agents or similar entities used by the third-country firm in the Union (other than in the Member State where the branch is established) the name of the individual or entity together with the address and contact details 27d The list of websites used by the third-country firm in the Union (other than in the Member State where the branch is established), together with, for each website, its URL 28a Description of the investor protection Information and reporting to clients arrangements of the third-country firm available to the clients of the The description of the arrangements of the third-country firm to branch in the Union (other than in ensure that it complies with its information and reporting obligations the Member State where the branch is to clients under Articles 24 and 25 of Directive 2014/65/EU and established), including the rights of implementing measures for the operations of the branch in the Union (other than in the Member State where the branch is established)15.7.2022 EN Official Journal of the European Union L 188/111 28b The language(s) the branch will use with its clients in the Union (other those clients resulting from the than in the Member State where the branch is established) investor-compensation scheme referred to in Article 39(2), point (f) 28c of Directive 2014/65/EU Suitability and appropriateness (to be provided in case of any change to the The description of the arrangements of the third-country firm to information previously reported to the ensure that it complies with its obligations to assess suitability or competent authority) appropriateness, as the case may be, when the branch provides services to clients in the Union (other than in the Member State where the branch is established) 28d Best execution Where the branch executes orders for its clients in the Union (other than in the Member State where the branch is established), the description of the arrangements to ensure that it executes client orders on terms most favourable to the clients 28e Client order handling rules The description of the arrangements of the third-country firm which provide for the prompt, fair and expeditious execution of client orders with a focus on the operations of the branch in the Union (other than in the Member State where the branch is established) 28f Product governance arrangements Where the third-country firm manufactures and/or distributes financial instruments in the Union (other than in the Member State where the branch is established), description of the product governance arrangements set up by the third-country firm for its operations in the Union. 28g The arrangements of the third-country firm to identify, prevent and manage conflicts of interest The description of the measures the third-country firm has put in place to identify and to prevent or manage conflicts of interest that arise in the course of providing investment and ancillary services, including those arising from the remuneration policy of the persons involved in the provision of investment services, investment activities and ancillary services provided in the Union (other than in the Member State where the branch is established) 28h The arrangements of the third-country firm to handle complaints A description of the procedure that clients of the third-country firm in the Union (other than in the Member State where the branch is established) need to follow to lodge a complaint 28j The department responsible for handling the complaints of clients of the branch 28k The language(s) clients must lodge their complaintsL 188/112 EN Official Journal of the European Union 15.7.2022 28l The relevant courts (in case of litigation) referred to in any contractual arrangements between the third-country firm and its clients in the Union (other than in the Member State where the branch is established) 28m The alternative dispute resolution entity/ies competent to deal with cross-border disputes involving clients in the Union (other than in the Member State where the branch is established) 28n The third-country firm’s membership of an investor compensation scheme The description of the third-country firm’s membership of an investor compensation scheme including whether clients and counterparties of the branch in the Union (other than in the Member State where the branch is established) will be eligible to such scheme, its scope, a description of the eligibility conditions and the amounts and financial instruments covered by the scheme 28o The arrangements of the third-country firm to protect and manage client funds and assets The description of safeguarding arrangements for any client fund or client asset in the Union (other than in the Member State where the branch is established) (in particular, where financial instruments and funds are held in a custodian, the name of the custodian, and related contracts) 28p Other arrangements The description of any other arrangements that the third-country firm may deem relevant to the provision of services and performance of the activities of the branch in the Union (other than in the Member State where the branch is established) in an honest, fair and professional manner that promotes the interests of clients 29a Information on the outsourcing The list and description of the outsourced functions (or those intended arrangements of the third-country to be outsourced) for the provision of the branch’s investment services firm applicable to the operations of and performance of its activities in the Union (other than in the the branch Member State where the branch is established) (to be provided in case of any change to the 29b The description of the resources (in particular, human and technical, information previously reported to the and the internal control system) allocated to the control of the competent authority) outsourced functions, services or activities insofar as they are related to the operations of the branch in the Union (other than in the Member State where the branch is established) 30 Information on the arrangements Description of any arrangements and resources (in particular human (including IT arrangements) set up by and IT resources) that the third-country firm may have put in place the third-country firm applicable to and/or allocated for the activities of its branch in the Union (other the activities of the branch for than in the Member State where the branch is established) for algorithmic trading, for high algorithmic trading, high frequency trading and direct electronic frequency trading and for direct access and for the control of such activities electronic access15.7.2022 EN Official Journal of the European Union L 188/113 (to be provided in case of any change to the information previously reported to the competent authority) 31 Any other information considered by the competent authority necessary to enable comprehensive monitoring of the activities of the branch in the Union