Article 46 — Requirements relating to persons exercising significant influence over the management of the regulated market
Financial servicesLevel 1DirectiveMiFID IIIn forceOfficial source
46(1)Copy link
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.
46(2)(a)
(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;
Copy link46(2)(b)
(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.
Copy link46(3)Copy link
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.