It is also considered necessary to allow ESMA, after taking into account the advice of the ESRB, to determine that the leverage used by an AIFM or by a group of AIFMs poses a substantial risk to the stability and the integrity of the financial system and to issue advice to competent authorities specifying the remedial measures to be taken.
◷
New version applies from 02/07/2014 — introduced by Directive 2014/65/EU (MIFID II).
97 provisions change.
Later versions: 13/01/2019, 26/06/2021, 02/08/2021, 09/01/2024, 17/01/2025, 16/04/2026.
Recital 51 changes in this version: compare with the current text.