Defined terms — DIRECTIVE (EU) 2021/338 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 February 2021 amending Directive 2014/65/EU as regards information requirements, product governance and position limits, and Directives 2013/36/EU and (EU) 2019/878 as regards their application to investment firms, to help the recovery from the COVID-19 crisis (Text with EEA relevance)
European Union · 32021L0338 · 25 provisions
5 defined in this instrument.
agricultural commodity derivatives — derivative contracts relating to products listed in Article 1 of, and Annex I, Parts I to XX and XXIV/1, to, Regulation (EU) No 1308/2013 of the European Parliament and of the Council (*1), as well as to products listed in Annex I to Regulation (EU) No 1379/2013 of the European Parliament and of the Council (*2);
(d)
the following point is inserted:
‘(62a) Article 1 — Amendments to Directive 2014/65/EU
electronic format — any durable medium other than paper;’;
(e)
the following point is added:
‘(65) Article 1 — Amendments to Directive 2014/65/EU
make-whole clause — a clause that aims to protect the investor by ensuring that, in the event of early redemption of a bond, the issuer is required to pay to the investor holding the bond an amount equal to the sum of the net present value of the remaining coupon payments expected until maturity and the principal amount of the bond to be redeemed;’;
(c)
point (59) is replaced by the following:
‘(59) Article 1 — Amendments to Directive 2014/65/EU
predominantly commercial group — any group of which the main business is not the provision of investment services within the meaning of this Directive, or the performance of any activity listed in Annex I to Directive 2013/36/EU, or acting as a market maker in relation to commodity derivatives Article 1 — Amendments to Directive 2014/65/EU
switching of financial instruments — selling a financial instrument and buying another financial instrument or exercising a right to make a change with regard to an existing financial instrument;’;
(b)
the following point is inserted:
‘(44a) Article 1 — Amendments to Directive 2014/65/EU