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Text as of 23 Mar 2023 · Directive 2014/65/EU, OJ L 173, 12.6.2014 · Same wording as today’s text.Today’s text

Recital 35

Financial servicesLevel 1DirectiveMiFID IIIn forceOfficial source

It is necessary to exclude from the scope of this Directive transmission system operators as defined in Article 2(4) of Directive 2009/72/EC of the European Parliament and of the Council or Article 2(4) of Directive 2009/73/EC of the European Parliament and of the Council when carrying out their tasks under those Directives, under Regulation (EC) No 714/2009 of the European Parliament and of the Council, under Regulation (EC) No 715/2009 of the European Parliament and of the Council or under network codes or guidelines adopted pursuant to those legislative acts. In accordance with those legislative acts, transmission system operators have specific obligations and responsibilities, are subject to specific certification and are supervised by sector specific competent authorities. Transmission system operators should also benefit from such an exemption where they use other persons acting as service providers on their behalf to carry out their task under those legislative acts or under network codes or guidelines adopted pursuant to those Regulations. Transmission system operators should not be able to benefit from such an exemption when providing investment services or activities in financial instruments, including when operating a platform for secondary trading in financial transmission rights.