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Preamble
Recitals 55
Title I - SUBJECT MATTER, SCOPE AND DEFINITIONS (Article 1-2) 2
Title II - TRANSPARENCY FOR TRADING VENUES (Article 3-13) 14
Title III - TRANSPARENCY FOR SYSTEMATIC INTERNALISERS AND INVESTMENT FIRMS TRADING OTC AND TICK SIZE REGIME FOR SYSTEMATIC INTERNALISERS (Article 14-23a) 14
Title IV - TRANSACTION REPORTING (Article 24-27) 4
Title IVA - DATA REPORTING SERVICES (Article 27a-27i) 12
Title V - DERIVATIVES (Article 28-34) 8
Title VI - NON-DISCRIMINATORY CLEARING ACCESS FOR FINANCIAL INSTRUMENTS (Article 35-38) 4
Title VIA - ESMA POWERS AND COMPETENCES (Article 38a-38o) 15
- Chapter 1 - Competences and procedures (Article 38a-38g) 7
- Chapter 2 - Administrative sanctions and other administrative measures (Article 38h-38o) 8
Title VII - SUPERVISORY MEASURES ON PRODUCT INTERVENTION AND POSITIONS (Article 39-45) 8
Title VIII - PROVISION OF SERVICES AND PERFORMANCE OF ACTIVITIES BY THIRD-COUNTRY FIRMS FOLLOWING AN EQUIVALENCE DECISION WITH OR WITHOUT A BRANCH (Article 46-49) 4
Title IX - DELEGATED AND IMPLEMENTING ACTS (Article 50-51) 2
Title X - FINAL PROVISIONS (Article 52-55) 6
Amending acts 9

Article 38a - Exercise of ESMA’s powers

Article 38a

Exercise of ESMA’s powers

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The powers conferred on ESMA or any official of or other person authorised by ESMA by Articles 38b to 38e shall not be used to require the disclosure of information or documents which are subject to legal privilege.

Official text · consolidated version 17/01/2025 (in force) Open full page ↗