> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/definitions/mifid-ii/management-body.md).

# management body

*In force · MiFID II Article 4(1), point (36) · Consolidated version of 6 June 2026 · Checked against EUR-Lex on 30 Sep 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606)

### Definition

> **(36)** ‘**management body**’ means the body or bodies of an investment firm, a market operator, or a data reporting services provider as defined in point (36a) of Article 2(1) of Regulation (EU) No 600/2014, which are appointed in accordance with national law, which are empowered to set the entity’s strategy, objectives and overall direction, and which oversee and monitor management decision-making and include persons who effectively direct the business of the entity.
>
> Where this Directive refers to the management body and, pursuant to national law, the managerial and supervisory functions of the management body are assigned to different bodies or different members within one body, the Member State shall identify the bodies or members of the management body responsible in accordance with its national law, unless otherwise specified by this Directive;

### Source

[MiFID II, Article 4(1), point (36)](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606).


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