What changes on 30/04/2004
The text in force from 09/10/2002 compared with the text from 30/04/2004.
147 inserted
0 amended
0 deleted
0 moved
Read the act as of 30/04/2004 · other versions: 28/04/2006 · 21/09/2007 · 20/03/2008 · 04/01/2011 · 03/01/2018
Title I
- inserted Article 1 - Scope
- inserted Article 2 - Exemptions
- inserted Article 3 - Optional exemptions
- inserted Article 4 - Definitions
Title II › Chapter I
- inserted Article 5 - Requirement for authorisation
- inserted Article 6 - Scope of authorisation
- inserted Article 7 - Procedures for granting and refusing requests for authorisation
- inserted Article 8 - Withdrawal of authorisations
- inserted Article 9 - Persons who effectively direct the business
- inserted Article 10 - Shareholders and members with qualifying holdings
- inserted Article 11 - Membership of an authorised Investor Compensation Scheme
- inserted Article 12 - Initial capital endowment
- inserted Article 13 - Organisational requirements
- inserted Article 14 - Trading process and finalisation of transactions in an MTF
- inserted Article 15 - Relations with third countries
Title II › Chapter II › Section 1
- inserted Article 16 - Regular review of conditions for initial authorisation
- inserted Article 17 - General obligation in respect of on-going supervision
- inserted Article 18 - Conflicts of interest
Title II › Chapter II › Section 2
- inserted Article 19 - Conduct of business obligations when providing investment services to clients
- inserted Article 20 - Provision of services through the medium of another investment firm
- inserted Article 21 - Obligation to execute orders on terms most favourable to the client
- inserted Article 22 - Client order handling rules
- inserted Article 23 - Obligations of investment firms when appointing tied agents
- inserted Article 24 - Transactions executed with eligible counterparties
Title II › Chapter II › Section 3
- inserted Article 25 - Obligation to uphold integrity of markets, report transactions and maintain records
- inserted Article 26 - Monitoring of compliance with the rules of the MTF and with other legal obligations
- inserted Article 27 - Obligation for investment firms to make public firm quotes
- inserted Article 28 - Post-trade disclosure by investment firms
- inserted Article 29 - Pre-trade transparency requirements for MTFs
- inserted Article 30 - Post-trade transparency requirements for MTFs
Title II › Chapter III
- inserted Article 31 - Freedom to provide investment services and activities
- inserted Article 32 - Establishment of a branch
- inserted Article 33 - Access to regulated markets
- inserted Article 34 - Access to central counterparty, clearing and settlement facilities and right to designate settlement system
- inserted Article 35 - Provisions regarding central counterparty, clearing and settlement arrangements in respect of MTFs
Title III
- inserted Article 36 - Authorisation and applicable law
- inserted Article 37 - Requirements for the management of the regulated market
- inserted Article 38 - Requirements relating to persons exercising significant influence over the management of the regulated market
- inserted Article 39 - Organisational requirements
- inserted Article 40 - Admission of financial instruments to trading
- inserted Article 41 - Suspension and removal of instruments from trading
- inserted Article 42 - Access to the regulated market
- inserted Article 43 - Monitoring of compliance with the rules of the regulated market and with other legal obligations
- inserted Article 44 - Pre-trade transparency requirements for regulated markets
- inserted Article 45 - Post-trade transparency requirements for regulated markets
- inserted Article 46 - Provisions regarding central counterparty and clearing and settlement arrangements
- inserted Article 47 - List of regulated markets
Title IV › Chapter I
- inserted Article 48 - Designation of competent authorities
- inserted Article 49 - Cooperation between authorities in the same Member State
- inserted Article 50 - Powers to be made available to competent authorities
- inserted Article 51 - Administrative sanctions
- inserted Article 52 - Right of appeal
- inserted Article 53 - Extra-judicial mechanism for investors' complaints
- inserted Article 54 - Professional secrecy
- inserted Article 55 - Relations with auditors
Title IV › Chapter II
- inserted Article 56 - Obligation to cooperate
- inserted Article 57 - Cooperation in supervisory activities, on-the-spot verifications or in investigations
- inserted Article 58 - Exchange of information
- inserted Article 59 - Refusal to cooperate
- inserted Article 60 - Inter-authority consultation prior to authorisation
- inserted Article 61 - Powers for host Member States
- inserted Article 62 - Precautionary measures to be taken by host Member States
Title IV › Chapter III
Title V
- inserted Article 64 - Committee procedure
- inserted Article 65 - Reports and review
- inserted Article 66 - Amendment of Directive 85/611/EEC
- inserted Article 67 - Amendment of Directive 93/6/EEC
- inserted Article 68 - Amendment of Directive 2000/12/EC
- inserted Article 69 - Repeal of Directive 93/22/EEC
- inserted Article 70 - Transposition
- inserted Article 71 - Transitional provisions
- inserted Article 72 - Entry into force
- inserted Article 73 - Addressees
Outside any heading
- inserted Recital 1
- inserted Recital 2
- inserted Recital 3
- inserted Recital 4
- inserted Recital 5
- inserted Recital 6
- inserted Recital 7
- inserted Recital 8
- inserted Recital 9
- inserted Recital 10
- inserted Recital 11
- inserted Recital 12
- inserted Recital 13
- inserted Recital 14
- inserted Recital 15
- inserted Recital 16
- inserted Recital 17
- inserted Recital 18
- inserted Recital 19
- inserted Recital 20
- inserted Recital 21
- inserted Recital 22
- inserted Recital 23
- inserted Recital 24
- inserted Recital 25
- inserted Recital 26
- inserted Recital 27
- inserted Recital 28
- inserted Recital 29
- inserted Recital 30
- inserted Recital 31
- inserted Recital 32
- inserted Recital 33
- inserted Recital 34
- inserted Recital 35
- inserted Recital 36
- inserted Recital 37
- inserted Recital 38
- inserted Recital 39
- inserted Recital 40
- inserted Recital 41
- inserted Recital 42
- inserted Recital 43
- inserted Recital 44
- inserted Recital 45
- inserted Recital 46
- inserted Recital 47
- inserted Recital 48
- inserted Recital 49
- inserted Recital 50
- inserted Recital 51
- inserted Recital 52
- inserted Recital 53
- inserted Recital 54
- inserted Recital 55
- inserted Recital 56
- inserted Recital 57
- inserted Recital 58
- inserted Recital 59
- inserted Recital 60
- inserted Recital 61
- inserted Recital 62
- inserted Recital 63
- inserted Recital 64
- inserted Recital 65
- inserted Recital 66
- inserted Recital 67
- inserted Recital 68
- inserted Recital 69
- inserted Recital 70
- inserted Recital 71
- inserted Preamble
- inserted Annex I - LIST OF SERVICES AND ACTIVITIES AND FINANCIAL INSTRUMENTS
- inserted Annex II - PROFESSIONAL CLIENTS FOR THE PURPOSE OF THIS DIRECTIVE