Article 12
Financial reports and business plans
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 ( 1 );
(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 ( 2 ), 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) No 648/2012;
(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.
( 1 ) Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (OJ L 243, 11.9.2002, p. 1).
( 2 ) Directive 2006/43/EC of the European Parliament and of the Council of 17 May 2006 on statutory audits of annual accounts and consolidated accounts (OJ L 157, 9.6.2006, p. 87).