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Definitions
MiFID II · contents
Title I — Scope and definitions
1
Scope
2
Exemptions
3
Optional exemptions
4
Definitions
Title II — Authorisation and operating conditions for investment firms
5
Requirement for authorisation
6
Scope of authorisation
7
Procedures for granting and refusing requests for authorisation
8
Withdrawal of authorisations
9
Management body
10
Shareholders and members with qualifying holdings
11
Notification of proposed acquisitions
12
Assessment period
13
Assessment
14
Membership of an authorised investor compensation scheme
15
Initial capital endowment
16
Organisational requirements
16a
Exemptions from product governance requirements
17
Algorithmic trading
18
Trading process and finalisation of transactions in an MTF and an OTF
19
Specific requirements for MTFs
20
Specific requirements for OTFs
21
Regular review of conditions for initial authorisation
22
General obligation in respect of on-going supervision
23
Conflicts of interest
24
General principles and information to clients
25
Assessment of suitability and appropriateness and reporting to clients
26
Provision of services through the medium of another investment firm
27
Obligation to execute orders on terms most favourable to the client
28
Client order handling rules
29
Obligations of investment firms when appointing tied agents
29a
Services provided to professional clients
30
Transactions executed with eligible counterparties
31
Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations
32
Suspension and removal of financial instruments from trading on an MTF or an OTF
33
SME growth markets
34
Freedom to provide investment services and activities
35
Establishment of a branch
36
Access to regulated markets
37
Access to CCP, clearing and settlement facilities and right to designate settlement system
38
Provisions regarding CCPs, clearing and settlement arrangements in respect of MTFs
39
Establishment of a branch
40
Obligation to provide information
41
Granting of the authorisation
42
Provision of services at the exclusive initiative of the client
43
Withdrawal of authorisations
Title III — Regulated markets
44
Authorisation and applicable law
45
Requirements for the management body of a market operator
46
Requirements relating to persons exercising significant influence over the management of the regulated market
47
Organisational requirements
48
Systems resilience, circuit breakers and electronic trading
49
Tick sizes
50
Synchronisation of business clocks
51
Admission of financial instruments to trading
52
Suspension and removal of financial instruments from trading on a regulated market
53
Access to a regulated market
54
Monitoring of compliance with the rules of the regulated market and with other legal obligations
55
Provisions regarding CCP and clearing and settlement arrangements
56
List of regulated markets
Title IV — Position limits and position management controls in commodity derivatives and reporting
57
Position limits and position management controls in commodity derivatives
58
Position reporting by categories of position holders
Title V — Data reporting services
59
Requirement for authorisation
60
Scope of authorisation
61
Procedures for granting and refusing requests for authorisation
62
Withdrawal of authorisations
63
Requirements for the management body of a data reporting services provider
64
Organisational requirements
65
Organisational requirements
66
Organisational requirements
Title VI — Competent authorities
67
Designation of competent authorities
68
Cooperation between authorities in the same Member State
69
Supervisory powers
70
Sanctions for infringements
71
Publication of decisions
72
Exercise of supervisory powers and powers to impose sanctions
73
Reporting of infringements
74
Right of appeal
75
Extra-judicial mechanism for consumers complaints
76
Professional secrecy
77
Relations with auditors
78
Data protection
79
Obligation to cooperate
80
Cooperation between competent authorities in supervisory activities, for on-site verifications or investigations
81
Exchange of information
82
Binding mediation
83
Refusal to cooperate
84
Consultation prior to authorisation
85
Powers for host Member States
86
Precautionary measures to be taken by host Member States
87
Cooperation and exchange of information with ESMA
88
Exchange of information with third countries
Title VII — Delegated acts
89
Exercise of the delegation
89a
Committee procedure
90
Reports and review
91
Amendments to Directive 2002/92/EC
92
Amendments to Directive 2011/61/EU
93
Transposition
94
Repeal
95
Transitional provisions
95a
Transitional provision on the authorisation of credit institution referred to in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013
96
Entry into force
97
Addressees
This article changed on 23 March 2023. The new wording is not verified yet
We hold no verified wording from before this change. Read the new text at the official source.
Official source
Article 24 — General principles and information to clients
Financial services
★
Level 1
Directive
MiFID II
·
Official source
No text for this date