Recital 5 Microenterprises and to other financial entities that are not significant

Taking into account the criteria set out in Article 20, first paragraph, point (a), of Regulation (EU) 2022/2554, the reporting timelines should not pose a disproportionate burden to microenterprisesmeans a financial entity, other than a trading venue, a central counterparty, a trade repository or a central securities depository, which employs fewer than 10 persons and has an annual turnover and/or annual balance sheet total that does not exceed EUR 2 million; and to other financial entities that are not significant. In addition, to avoid a disproportional burden on financial entities, the reporting time limits should take into account weekends and bank holidays.