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MiFID 2 replaced MiFID 1, which in turn replaced Directive 93/22/EEC. MiFID 2 is complemented by Regulation (EU) No. 600/2014 on markets in financial instruments [38] The initial date for implementation by the Member States was 3 January 2017, however, in February 2016 the European Commission delayed this until 3 January 2018 to allow for the ...
The concept was introduced within the Markets in Financial Instruments Directive (MiFID), [1] a European Directive designed to harmonise retail investors protection and allow investment firms to provide services throughout the EU. Article 4 (15) of MiFID describes MTF as a “multilateral system, operated by an investment firm or a market ...
There are about 2000 companies (excluding exempted subsidiaries) affected by the requirements of the directive. [17] On 21 April 2021, the European Commission adopted a proposal for a new directive to amend the existing reporting requirements, on which provisional agreement between the European Council and the European Parliament was reached on ...
The Article 4(1)(20) of Directive 2014/65/EU (MiFID II) considers "investment firms dealing on own account when executing client orders over the counter (OTC) on an organised, frequent, systematic and substantial basis" systematic internaliser and requires them to report their trades. [2]
In 2012, its competences were enhanced through the EU regulation on short selling and credit default swaps. The year 2014 marked an intensive regulatory pressure on financial markets. The MiFID II and MiFIR directives gave ESMA the responsibility of implementing technical standards in the financial markets.
As of February 2021, the list of countries contemplated by an Equivalence Decisions taken by the European Commission according to each directive is: [18] Accounting Directive (2013/34/EU) Art. 47 Country-by-Country Reporting: Canada; Solvency II (2009/138/EC)
Launched in 2004 by the European Commission, It was seen as an important kick-start to the Lisbon Agenda which, launched in 2000, was an agreed strategy to make the EU "the world's most dynamic and competitive economy" by 2010. [47] The main aim of the Directive is to create a genuine internal market in Services.
Stock market equivalence is granted by the European Union to those countries whose stock markets are deemed to be 'equivalent' to those of the EU countries. On 3 January 2018, the EU implemented the "Markets in Financial Instruments Directive II" (colloquially known as "MiFID II") which required all European investment firms & traders to trade the shares of a company listed in the EU on a ...