1. — Directive 2004/39/EC of the European Parliament and of the Council of 21 April…

1.

Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC · European Union

Competent authorities shall be given all supervisory and investigatory powers that are necessary for the exercise of their functions. Within the limits provided for in their national legal frameworks they shall exercise such powers: directly; or in collaboration with other authorities; or under their responsibility by delegation to entities to which tasks have been delegated according to Article 48(2); or by application to the competent judicial authorities.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.