(3)Directive 2004/39/EC does not, however, establish common standards for the own funds of investment firms nor indeed does it establish the amounts of the initial capital of such firms or a common framework for monitoring the risks incurred by them.
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New version applies from 07/12/2009 — introduced by Directive 2009/111/EC (CRD).
52 provisions change.
Later versions: 04/01/2011, 01/01/2014.
Recital 3 changes in this version: compare with the current text.