What changes on 02/07/2014
The text in force from 09/10/2012 compared with the text from 02/07/2014.
272 inserted
0 amended
0 deleted
0 moved
Read the act as of 02/07/2014 · other versions: 10/11/2021 · 01/01/2022 · 28/02/2022 · 23/03/2023 · 09/01/2024 · 28/03/2024 · 17/01/2025 · 06/06/2026
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 - Management body
- inserted Article 10 - Shareholders and members with qualifying holdings
- inserted Article 11 - Notification of proposed acquisitions
- inserted Article 12 - Assessment period
- inserted Article 13 - Assessment
- inserted Article 14 - Membership of an authorised investor compensation scheme
- inserted Article 15 - Initial capital endowment
- inserted Article 16 - Organisational requirements
- inserted Article 17 - Algorithmic trading
- inserted Article 18 - Trading process and finalisation of transactions in an MTF and an OTF
- inserted Article 19 - Specific requirements for MTFs
- inserted Article 20 - Specific requirements for OTFs
Title II › Chapter II › Section 1
- inserted Article 21 - Regular review of conditions for initial authorisation
- inserted Article 22 - General obligation in respect of on-going supervision
- inserted Article 23 - Conflicts of interest
Title II › Chapter II › Section 2
- inserted Article 24 - General principles and information to clients
- inserted Article 25 - Assessment of suitability and appropriateness and reporting to clients
- inserted Article 26 - Provision of services through the medium of another investment firm
- inserted Article 27 - Obligation to execute orders on terms most favourable to the client
- inserted Article 28 - Client order handling rules
- inserted Article 29 - Obligations of investment firms when appointing tied agents
- inserted Article 30 - Transactions executed with eligible counterparties
Title II › Chapter II › Section 3
- inserted Article 31 - Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations
- inserted Article 32 - Suspension and removal of financial instruments from trading on an MTF or an OTF
Title II › Chapter II › Section 4
- inserted Article 33 - SME growth markets
Title II › Chapter III
- inserted Article 34 - Freedom to provide investment services and activities
- inserted Article 35 - Establishment of a branch
- inserted Article 36 - Access to regulated markets
- inserted Article 37 - Access to CCP, clearing and settlement facilities and right to designate settlement system
- inserted Article 38 - Provisions regarding CCPs, clearing and settlement arrangements in respect of MTFs
Title II › Chapter IV › Section 1
- inserted Article 39 - Establishment of a branch
- inserted Article 40 - Obligation to provide information
- inserted Article 41 - Granting of the authorisation
- inserted Article 42 - Provision of services at the exclusive initiative of the client
Title II › Chapter IV › Section 2
Title III
- inserted Article 44 - Authorisation and applicable law
- inserted Article 45 - Requirements for the management body of a market operator
- inserted Article 46 - Requirements relating to persons exercising significant influence over the management of the regulated market
- inserted Article 47 - Organisational requirements
- inserted Article 48 - Systems resilience, circuit breakers and electronic trading
- inserted Article 49 - Tick sizes
- inserted Article 50 - Synchronisation of business clocks
- inserted Article 51 - Admission of financial instruments to trading
- inserted Article 52 - Suspension and removal of financial instruments from trading on a regulated market
- inserted Article 53 - Access to a regulated market
- inserted Article 54 - Monitoring of compliance with the rules of the regulated market and with other legal obligations
- inserted Article 55 - Provisions regarding CCP and clearing and settlement arrangements
- inserted Article 56 - List of regulated markets
Title IV
- inserted Article 57 - Position limits and position management controls in commodity derivatives
- inserted Article 58 - Position reporting by categories of position holders
Title V › Section 1
- inserted Article 59 - Requirement for authorisation
- inserted Article 60 - Scope of authorisation
- inserted Article 61 - Procedures for granting and refusing requests for authorisation
- inserted Article 62 - Withdrawal of authorisations
- inserted Article 63 - Requirements for the management body of a data reporting services provider
Title V › Section 2
Title V › Section 3
Title V › Section 4
Title VI › Chapter I
- inserted Article 67 - Designation of competent authorities
- inserted Article 68 - Cooperation between authorities in the same Member State
- inserted Article 69 - Supervisory powers
- inserted Article 70 - Sanctions for infringements
- inserted Article 71 - Publication of decisions
- inserted Article 72 - Exercise of supervisory powers and powers to impose sanctions
- inserted Article 73 - Reporting of infringements
- inserted Article 74 - Right of appeal
- inserted Article 75 - Extra-judicial mechanism for consumers complaints
- inserted Article 76 - Professional secrecy
- inserted Article 77 - Relations with auditors
- inserted Article 78 - Data protection
Title VI › Chapter II
- inserted Article 79 - Obligation to cooperate
- inserted Article 80 - Cooperation between competent authorities in supervisory activities, for on-site verifications or investigations
- inserted Article 81 - Exchange of information
- inserted Article 82 - Binding mediation
- inserted Article 83 - Refusal to cooperate
- inserted Article 84 - Consultation prior to authorisation
- inserted Article 85 - Powers for host Member States
- inserted Article 86 - Precautionary measures to be taken by host Member States
- inserted Article 87 - Cooperation and exchange of information with ESMA
Title VI › Chapter III
Title VII
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 Recital 72
- inserted Recital 73
- inserted Recital 74
- inserted Recital 75
- inserted Recital 76
- inserted Recital 77
- inserted Recital 78
- inserted Recital 79
- inserted Recital 80
- inserted Recital 81
- inserted Recital 82
- inserted Recital 83
- inserted Recital 84
- inserted Recital 85
- inserted Recital 86
- inserted Recital 87
- inserted Recital 88
- inserted Recital 89
- inserted Recital 90
- inserted Recital 91
- inserted Recital 92
- inserted Recital 93
- inserted Recital 94
- inserted Recital 95
- inserted Recital 96
- inserted Recital 97
- inserted Recital 98
- inserted Recital 99
- inserted Recital 100
- inserted Recital 101
- inserted Recital 102
- inserted Recital 103
- inserted Recital 104
- inserted Recital 105
- inserted Recital 106
- inserted Recital 107
- inserted Recital 108
- inserted Recital 109
- inserted Recital 110
- inserted Recital 111
- inserted Recital 112
- inserted Recital 113
- inserted Recital 114
- inserted Recital 115
- inserted Recital 116
- inserted Recital 117
- inserted Recital 118
- inserted Recital 119
- inserted Recital 120
- inserted Recital 121
- inserted Recital 122
- inserted Recital 123
- inserted Recital 124
- inserted Recital 125
- inserted Recital 126
- inserted Recital 127
- inserted Recital 128
- inserted Recital 129
- inserted Recital 130
- inserted Recital 131
- inserted Recital 132
- inserted Recital 133
- inserted Recital 134
- inserted Recital 135
- inserted Recital 136
- inserted Recital 137
- inserted Recital 138
- inserted Recital 139
- inserted Recital 140
- inserted Recital 141
- inserted Recital 142
- inserted Recital 143
- inserted Recital 144
- inserted Recital 145
- inserted Recital 146
- inserted Recital 147
- inserted Recital 148
- inserted Recital 149
- inserted Recital 150
- inserted Recital 151
- inserted Recital 152
- inserted Recital 153
- inserted Recital 154
- inserted Recital 155
- inserted Recital 156
- inserted Recital 157
- inserted Recital 158
- inserted Recital 159
- inserted Recital 160
- inserted Recital 161
- inserted Recital 162
- inserted Recital 163
- inserted Recital 164
- inserted Recital 165
- inserted Recital 166
- inserted Recital 167
- inserted Recital 168
- inserted Recital 169
- inserted Recital 170
- inserted Preamble
- inserted Article 90 - Reports and review
- inserted Article 91 - Amendments to Directive 2002/92/EC
- inserted Article 92 - Amendments to Directive 2011/61/EU
- inserted Article 93 - Transposition
- inserted Article 94 - Repeal
- inserted Article 95 - Transitional provisions
- inserted Article 96 - Entry into force
- inserted Article 97 - Addressees
- inserted Annex I
- inserted Annex II
- inserted Annex III
- inserted Annex IV