What changes on 17/09/2014
The text in force from 02/07/2014 compared with the text from 17/09/2014, which includes the changes made by Regulation (EU) No 909/2014 (CSDR).
11 inserted
261 amended
0 deleted
3 moved
Read the act as of 17/09/2014 · 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
- amended Article 1 - Scope
- amended Article 2 - Exemptions
- amended Article 3 - Optional exemptions
- amended Article 4 - Definitions
Title II › Chapter I
- amended Article 5 - Requirement for authorisation
- amended Article 6 - Scope of authorisation
- amended Article 7 - Procedures for granting and refusing requests for authorisation
- amended Article 8 - Withdrawal of authorisations
- amended Article 9 - Management body
- amended Article 10 - Shareholders and members with qualifying holdings
- amended Article 11 - Notification of proposed acquisitions
- amended Article 12 - Assessment period
- amended Article 13 - Assessment
- amended Article 16 - Organisational requirements
- amended Article 17 - Algorithmic trading
- amended Article 18 - Trading process and finalisation of transactions in an MTF and an OTF
- amended Article 19 - Specific requirements for MTFs
- amended Article 20 - Specific requirements for OTFs
Title II › Chapter II › Section 1
- amended Article 21 - Regular review of conditions for initial authorisation
- amended Article 23 - Conflicts of interest
Title II › Chapter II › Section 2
- amended Article 24 - General principles and information to clients
- amended Article 25 - Assessment of suitability and appropriateness and reporting to clients
- amended Article 27 - Obligation to execute orders on terms most favourable to the client
- amended Article 28 - Client order handling rules
- amended Article 29 - Obligations of investment firms when appointing tied agents
- amended Article 30 - Transactions executed with eligible counterparties
Title II › Chapter II › Section 3
- amended Article 31 - Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations
- amended Article 32 - Suspension and removal of financial instruments from trading on an MTF or an OTF
Title II › Chapter II › Section 4
- amended Article 33 - SME growth markets
Title II › Chapter III
- amended Article 34 - Freedom to provide investment services and activities
- amended Article 35 - Establishment of a branch
- amended Article 36 - Access to regulated markets
- amended Article 37 - Access to CCP, clearing and settlement facilities and right to designate settlement system
- amended Article 38 - Provisions regarding CCPs, clearing and settlement arrangements in respect of MTFs
Title II › Chapter IV › Section 1
- amended Article 39 - Establishment of a branch
- amended Article 40 - Obligation to provide information
- amended Article 41 - Granting of the authorisation
Title II › Chapter IV › Section 2
Title III
- amended Article 44 - Authorisation and applicable law
- amended Article 45 - Requirements for the management body of a market operator
- amended Article 46 - Requirements relating to persons exercising significant influence over the management of the regulated market
- amended Article 47 - Organisational requirements
- amended Article 48 - Systems resilience, circuit breakers and electronic trading
- amended Article 49 - Tick sizes
- amended Article 50 - Synchronisation of business clocks
- amended Article 51 - Admission of financial instruments to trading
- amended Article 52 - Suspension and removal of financial instruments from trading on a regulated market
- amended Article 53 - Access to a regulated market
- amended Article 54 - Monitoring of compliance with the rules of the regulated market and with other legal obligations
- amended Article 55 - Provisions regarding CCP and clearing and settlement arrangements
Title IV
- amended Article 57 - Position limits and position management controls in commodity derivatives
- amended Article 58 - Position reporting by categories of position holders
Title V › Section 1
- amended Article 59 - Requirement for authorisation
- amended Article 60 - Scope of authorisation
- amended Article 61 - Procedures for granting and refusing requests for authorisation
- amended Article 62 - Withdrawal of authorisations
- amended 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
- amended Article 67 - Designation of competent authorities
- amended Article 69 - Supervisory powers
- amended Article 70 - Sanctions for infringements
- amended Article 71 - Publication of decisions
- amended Article 72 - Exercise of supervisory powers and powers to impose sanctions
- amended Article 73 - Reporting of infringements
- amended Article 74 - Right of appeal
- amended Article 75 - Extra-judicial mechanism for consumers complaints
- amended Article 76 - Professional secrecy
- amended Article 77 - Relations with auditors
Title VI › Chapter II
- amended Article 79 - Obligation to cooperate
- amended Article 80 - Cooperation between competent authorities in supervisory activities, for on-site verifications or investigations
- amended Article 81 - Exchange of information
- amended Article 82 - Binding mediation
- amended Article 83 - Refusal to cooperate
- amended Article 84 - Consultation prior to authorisation
- amended Article 85 - Powers for host Member States
- amended Article 86 - Precautionary measures to be taken by host Member States
- amended Article 87 - Cooperation and exchange of information with ESMA
Title VI › Chapter III
Title VII
- amended Article 89 - Exercise of the delegation
- amended Article 90 - Reports and review
- amended Article 91 - Amendments to Directive 2002/92/EC
- amended Article 92 - Amendments to Directive 2011/61/EU
- amended Article 93 - Transposition
- amended Article 95 - Transitional provisions
- moved Article 94 - Repeal from
- moved Article 96 - Entry into force from
- moved Article 97 - Addressees from
Outside any heading
- inserted Recital
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- amended Recital 1
- amended Recital 2
- amended Recital 3
- amended Recital 4
- amended Recital 5
- amended Recital 6
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- amended Recital 21
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- 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
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- amended Recital 45
- amended Recital 46
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- amended Recital 53
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- amended Recital 166
- amended Recital 167
- amended Recital 168
- amended Recital 169
- amended Recital 170
- amended Preamble
- amended Annex I - LISTS OF SERVICES AND ACTIVITIES AND FINANCIAL INSTRUMENTS
- amended Annex II - PROFESSIONAL CLIENTS FOR THE PURPOSE OF THIS DIRECTIVE
- amended Annex III - PART A
- amended Annex IV