--- title: "Article 46 — Requirements relating to persons exercising significant influence over the management of the regulated market" type: regulation legal_status: in_force source: "https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606" source_retrieved: 2026-09-28 shortTitle: "Article 46 — Requirements relating to persons exercising significant influence over the management of the regulated market" instrument_type: level1_directive authority: Commission binding: true binding_character: binding mica_level2: false legal_basis: "Directive 2014/65/EU" instrument: mifid2 celex: "32014L0065" regulation: MiFID II regulation-full: "Directive 2014/65/EU" article: 46 status: in_force object_id: eu.mifid2.legal_text.article.46 text_version: "Consolidated version of 6 June 2026" source_url: "https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606" check_status: matched verified: true last_checked: 2026-10-26 --- *In force · Consolidated version of 6 June 2026 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014L0065-20260606)* 1. Member States shall require the persons who are in a position to exercise, directly or indirectly, significant influence over the management of the regulated market to be suitable. 2. Member States shall require the market operator of the regulated market: **(a)** to provide the competent authority with, and to make public, information regarding the ownership of the regulated market and/or the market operator, and in particular, the identity and scale of interests of any parties in a position to exercise significant influence over the management; **(b)** to inform the competent authority of and to make public any transfer of ownership which gives rise to a change in the identity of the persons exercising significant influence over the operation of the regulated market. 3. The competent authority shall refuse to approve proposed changes to the controlling interests of the regulated market and/or the market operator where there are objective and demonstrable grounds for believing that they would pose a threat to the sound and prudent management of the regulated market. *** [Title III — Regulated markets](../titles/iii.md) · [← Article 45](45.md) · [Article 47 →](47.md)