Amending certain Directives as regards the extension of certain mitigating measures available for small and medium sized enterprises to small mid-cap enterprises and further simplifying measures (Omnibus IV)

It affects small mid-cap companies, especially those seeking access to growth markets or identified as critical entities. It also affects operators of SME growth markets and Member States’ resilience planning.

• Defines small mid-cap companies under MiFID II by average market capitalisation of EUR 200 million to under EUR 1 billion.
• Allows SME growth market eligibility to count SME and small mid-cap issuers toward the 50% issuer threshold.
• Requires national critical-entity resilience strategies to describe existing facilitation measures for small mid-cap critical entities.
• Keeps the changes targeted to existing SME-style support measures, without creating new funding or reporting systems.

Takes effect

The Directive enters into force on the twentieth day after publication in the Official Journal.

Transitional law

Member States must transpose within 12 months of entry into force and apply the measures from the following day.

• Directive 2014/65/EU (32014L0065)
  • art. 4(1): inserts new point (13a) defining small mid-cap enterprises
  • art. 33(3)(a): replaces point (a) to include SME or SMC issuers in SME growth market threshold
• Directive (EU) 2022/2557 (32022L2557)
  • art. 4(2)(h): replaces point (h) to include facilitating measures for small mid-cap critical entities