SIMs (securities investment firms) are investment firms authorized to carry out investment services or activities pursuant to the Consolidated Law on Finance (TUF). Investment services and activities refer to the following functions, relating to financial instruments:
- dealing on own account
- execution of orders on behalf of customers
- underwriting and/or placement on a firm commitment basis or with the provision of a guarantee to the issuer
- placement not on a firm commitment basis nor with the provision of a guarantee to the issuer
- portfolio management
- reception and transmission of orders
- investment advice
- management of multilateral trading facilities.
SIMs are subject to supervision by the Bank of Italy and by Consob and are entered in a register held by Consob. In accordance with Article 11 of the TUF, SIM groups are entered in a register held by the Bank of Italy and are subject to consolidated supervision (from https://www.bancaditalia.it/compiti/vigilanza/intermediari/index.html?com.dotmarketing.htmlpage.language=1 ).
VIP ERMES: the solution for your supervisory reporting
SEFIN is able to handle the supervisory reporting of the Securities investment firms:
- SURVEY T – assets, liabilities and income statement
- SURVEY S – portfolio financial instruments and repurchase (if dealing on own account)
- SURVEY U – investment services reporting
- COREP_PRUI_IND – prudential reporting (own funds, credit risk, capital requirement, etc.)
- COREP_LEXI_IND – prudential reporting (big exposures)
- COREP_LCR_IND – liquidity coverage reporting