◷
New version applies from 03/01/2018 — introduced by Directive 2014/65/EU (MIFID II).
152 provisions change.
Markets in Financial Instruments Directive (MIFID)
20/03/2008 → 04/01/2011: 3 inserted · 0 removed · 100 amended · 0 moved · 0 renamed · 49 unchanged
Position-only shifts inside the same heading are not changes. Amended = the printed text changed.
Preamble
Preamble · 1 unchanged
Recitals
- amended Recital 1
- amended Recital 2
- amended Recital 3
- amended Recital 4
- amended Recital 5
- amended Recital 6
- amended Recital 7
- amended Recital 8
- amended Recital 9
- amended Recital 10
- amended Recital 11
- amended Recital 12
- amended Recital 13
- amended Recital 14
- amended Recital 15
- amended Recital 16
- amended Recital 17
- amended Recital 18
- amended Recital 19
- amended Recital 20
- amended Recital 21
- amended Recital 22
- amended Recital 23
- amended Recital 24
- amended Recital 25
- amended Recital 26
- amended Recital 27
- amended Recital 28
- amended Recital 29
- amended Recital 30
- amended Recital 31
- amended Recital 32
- amended Recital 33
- amended Recital 34
- amended Recital 35
- amended Recital 36
- amended Recital 37
- amended Recital 38
- amended Recital 39
- amended Recital 40
- amended Recital 41
- amended Recital 42
- amended Recital 43
- amended Recital 44
- amended Recital 45
- amended Recital 46
- amended Recital 47
- amended Recital 48
- amended Recital 49
- amended Recital 50
- amended Recital 51
- amended Recital 52
- amended Recital 53
- amended Recital 54
- amended Recital 55
- amended Recital 56
- amended Recital 57
- amended Recital 58
- amended Recital 59
- amended Recital 60
- amended Recital 61
- amended Recital 62
- amended Recital 63
- amended Recital 64
- amended Recital 65
- amended Recital 66
- amended Recital 67
- amended Recital 68
- amended Recital 69
- amended Recital 70
- amended Recital 71
Title I - DEFINITIONS AND SCOPE
Title II - AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS
- amended Article 5 - Requirement for authorisation Title II › Chapter I
- amended Article 7 - Procedures for granting and refusing requests for authorisation Title II › Chapter I
- amended Article 8 - Withdrawal of authorisations Title II › Chapter I
- amended Article 10a Title II › Chapter I
- amended Article 10b - Assessment Title II › Chapter I
- amended Article 11 - Membership of an authorised Investor Compensation Scheme Title II › Chapter I
- amended Article 15 - Relations with third countries Title II › Chapter I
- amended Article 16 - Regular review of conditions for initial authorisation Title II › Chapter II › Section 1
- amended Article 19 - Conduct of business obligations when providing investment services to clients Title II › Chapter II › Section 2
- amended Article 23 - Obligations of investment firms when appointing tied agents Title II › Chapter II › Section 2
- amended Article 25 - Obligation to uphold integrity of markets, report transactions and maintain records Title II › Chapter II › Section 3
- amended Article 27 - Obligation for investment firms to make public firm quotes Title II › Chapter II › Section 3
- amended Article 31 - Freedom to provide investment services and activities Title II › Chapter III
- amended Article 32 - Establishment of a branch Title II › Chapter III
Title II · 19 unchanged
Article 6 · Article 9 · Article 10 · Article 12 · Article 13 · Article 14 · Article 17 · Article 18 · Article 20 · Article 21 · Article 22 · Article 24 · Article 26 · Article 28 · Article 29 · Article 30 · Article 33 · Article 34 · Article 35
Title III - REGULATED MARKETS
- amended Article 36 - Authorisation and applicable law Title III
- amended Article 41 - Suspension and removal of instruments from trading Title III
- amended Article 42 - Access to the regulated market Title III
- amended Article 47 - List of regulated markets Title III
Title III · 8 unchanged
Article 37 · Article 38 · Article 39 · Article 40 · Article 43 · Article 44 · Article 45 · Article 46
Title IV - COMPETENT AUTHORITIES
- amended Article 48 - Designation of competent authorities Title IV › Chapter I
- amended Article 51 - Administrative sanctions Title IV › Chapter I
- amended Article 53 - Extra-judicial mechanism for investors' complaints Title IV › Chapter I
- renamed Title IV › Chapter II - COOPERATION BETWEEN THE COMPETENT AUTHORITIES OF THE MEMBER STATES AND WITH ESMA was “Chapter II - COOPERATION BETWEEN COMPETENT AUTHORITIES OF DIFFERENT MEMBER STATES”
- amended Article 56 - Obligation to cooperate Title IV › Chapter II
- amended Article 57 - Cooperation in supervisory activities, on-the-spot verifications or in investigations Title IV › Chapter II
- amended Article 58 - Exchange of information Title IV › Chapter II
- inserted Article 58a - Binding mediation Title IV › Chapter II
- amended Article 59 - Refusal to cooperate Title IV › Chapter II
- amended Article 60 - Inter-authority consultation prior to authorisation Title IV › Chapter II
- amended Article 62 - Precautionary measures to be taken by host Member States Title IV › Chapter II
- inserted Article 62a - Cooperation and exchange of information with ESMA Title IV › Chapter II
- amended Article 63 - Exchange of information with third countries Title IV › Chapter III
Title IV · 6 unchanged
Article 49 · Article 50 · Article 52 · Article 54 · Article 55 · Article 61
Title V - FINAL PROVISIONS
- inserted Article 64a - Sunset clause Title V
- amended Article 66 - Amendment of Directive 85/611/EEC Title V
Title V · 9 unchanged
Article 64 · Article 65 · Article 67 · Article 68 · Article 69 · Article 70 · Article 71 · Article 72 · Article 73