Question ID: 2744
Regulation Reference: (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
Topic: Reporting Templates
Article: N/A
Template: S.06.02
Status: Rejected
Date of submission: 31 Jul 2023
Question
We have a question relating to C0230 Issuer Sector in QRT S.06.02 as part of taxonomy 2.8.0. Our data provider Bloomberg cannot deliver 4 digits in all cases for sectors A to N. For example, Carrefour SA (CA FP) is classified as 47.2 (Retail sale of food, beverages and tobacco in specialised stores). The detailed layer of NACE codes (aka Class) are these: • G47.2.1 - Retail sale of fruit and vegetables in specialised stores • G47.2.2 - Retail sale of meat and meat products in specialised stores • G47.2.3 - Retail sale of fish, crustaceans and molluscs in specialised stores • G47.2.4 - Retail sale of bread, cakes, flour confectionery and sugar confectionery in specialised stores • G47.2.5 - Retail sale of beverages in specialised stores • G47.2.6 - Retail sale of tobacco products in specialised stores • G47.2.9 - Other retail sale of food in specialised stores In the case of Carrefour all classes would apply, therefore it is not possible to assign a NACE code beyond G472 for any general grocery store, that is only 3 digits and not four. Could you please advise on how to handle these cases as per taxonomy 2.8.0? Should we leave only 3 digits? If not, which rules should we follow for applying the 4th digit?
EIOPA answer
This question has been rejected because it does not relate to the consistent and effective application of the legal framework covered by the EIOPA regulatory Q&A process.
However, our unofficial answer would be the following, noting that we are referring to documents that are not ours to interpret, therefore referring to general practice as determined by Eurostat:
“Cell C2030 should identify the economic sector of issuer based on the latest version of the Statistical classification of economic activities in the European Community (‘NACE’) code. The methodology to determine the NACE code for units that perform multiple economic actives described in one or more categories of NACE is provided for by Eurostat (ISSN 1977-0375 NACE Rev. 2 - Statistical classification of economic activities in the European Community)."