small and medium-sized enterprises

Defined in Article 4, Directive 2014/65/EU (MIFID II)

Definitions over time (2)

1. 31/12/2019 – today applies on 11/11/2026 Article 4, Directive 2014/65/EU (MIFID II) Scope: Whole act

   For the purposes of this Directive, the following definitions apply:

   ‘small and medium-sized enterprises’ for the purposes of this Directive, means companies that had an average market capitalisation of less than EUR 200 000 000 on the basis of end-year quotes for the previous three calendar years;

2. 17/09/2014 – 01/07/2016 Article 4, Directive 2014/65/EU (MIFID II) Scope: Whole act

   For the purposes of this Directive, the following definitions apply:

   ‘small and medium-sized enterprises’ for the purposes of this Directive, means companies that had an average market capitalisation of less than EUR 200 000 000 on the basis of end-year quotes for the previous three calendar years;

Used in (1 place in 1 provisions on 11/11/2026)

Directive 2014/65/EU (MIFID II) (1 in 1)

Article 4