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MiFID II — DIRECTIVE 2014/65/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (recast) (Text with EEA relevance)

directive · European Union · 32014L0065

505 provisions · cited by 39 instruments we hold · 371 national measures recorded · 163 provisions hand work to national law

Defined terms · All instruments · financial control · financial instrument · financial legislation · investment company · management audit · provision of services

1 Scope
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2 Exemptions
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3 Optional exemptions
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4 Definitions
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5 Requirement for authorisation
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6 Scope of authorisation
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7 Procedures for granting and refusing requests for authorisation
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8 Withdrawal of authorisations
9 Management body
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10 Shareholders and members with qualifying holdings
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11 Notification of proposed acquisitions
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12 Assessment period
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13 Assessment
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14 Membership of an authorised investor compensation scheme
15 Initial capital endowment
16 Organisational requirements
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17 Algorithmic trading
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18 Trading process and finalisation of transactions in an MTF and an OTF
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19 Specific requirements for MTFs
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20 Specific requirements for OTFs
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21 Regular review of conditions for initial authorisation
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22 General obligation in respect of on-going supervision
23 Conflicts of interest
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24 General principles and information to clients
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25 Assessment of suitability and appropriateness and reporting to clients
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26 Provision of services through the medium of another investment firm
27 Obligation to execute orders on terms most favourable to the client
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28 Client order handling rules
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29 Obligations of investment firms when appointing tied agents
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30 Transactions executed with eligible counterparties
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31 Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations
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32 Suspension and removal of financial instruments from trading on an MTF or an OTF
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33 SME growth markets
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34 Freedom to provide investment services and activities
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35 Establishment of a branch
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36 Access to regulated markets
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37 Access to CCP, clearing and settlement facilities and right to designate settlement system
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38 Provisions regarding CCPs, clearing and settlement arrangements in respect of MTFs
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39 Establishment of a branch
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40 Obligation to provide information
41 Granting of the authorisation
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42 Provision of services at the exclusive initiative of the client
43 Withdrawal of authorisations
44 Authorisation and applicable law
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45 Requirements for the management body of a market operator
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46 Requirements relating to persons exercising significant influence over the management of the regulated market
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47 Organisational requirements
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48 Systems resilience, circuit breakers and electronic trading
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49 Tick sizes
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50 Synchronisation of business clocks
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51 Admission of financial instruments to trading
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52 Suspension and removal of financial instruments from trading on a regulated market
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53 Access to a regulated market
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54 Monitoring of compliance with the rules of the regulated market and with other legal obligations
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55 Provisions regarding CCP and clearing and settlement arrangements
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56 List of regulated markets
57 Position limits and position management controls in commodity derivatives
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58 Position reporting by categories of position holders
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59 Requirement for authorisation
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60 Scope of authorisation
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61 Procedures for granting and refusing requests for authorisation
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62 Withdrawal of authorisations
63 Requirements for the management body of a data reporting services provider
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64 Organisational requirements
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65 Organisational requirements
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66 Organisational requirements
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67 Designation of competent authorities
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68 Cooperation between authorities in the same Member State
69 Supervisory powers
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70 Sanctions for infringements
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71 Publication of decisions
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72 Exercise of supervisory powers and powers to impose sanctions
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73 Reporting of infringements
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74 Right of appeal
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75 Extra-judicial mechanism for consumers complaints
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76 Professional secrecy
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77 Relations with auditors
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78 Data protection
79 Obligation to cooperate
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80 Cooperation between competent authorities in supervisory activities, for on-site verifications or investigations
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81 Exchange of information
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82 Binding mediation
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83 Refusal to cooperate
84 Consultation prior to authorisation
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85 Powers for host Member States
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86 Precautionary measures to be taken by host Member States
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87 Cooperation and exchange of information with ESMA
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88 Exchange of information with third countries
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89 Exercise of the delegation
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90 Reports and review
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91 Amendments to Directive 2002/92/EC
92 Amendments to Directive 2011/61/EU
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93 Transposition
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94 Repeal
95 Transitional provisions
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96 Entry into force
97 Addressees