The European Banking Authority (EBA) on Friday launched a data collection exercise that will be used to support its response to the European Commission’s effort to create a new prudential framework for investment firms, “which should be less complex, more risk sensitive and more proportionate than the current regime,” the EBA says in a statement.

The EBA published templates and instructions for investment firms and fund managers on the data it is looking to collect. The deadline for firms to report the data is Oct. 7.

The EBA will launch an ad-hoc data collection for commodity dealers at a later stage, the regulator’s statement adds.