F1TITLE IIAUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS
F1CHAPTER ICONDITIONS AND PROCEDURES FOR AUTHORISATION
F1Article 5Requirement for authorisation
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F1Article 6Scope of authorisation
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F1Article 7Procedures for granting and refusing requests for authorisation
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F1Article 8Withdrawal of authorisations
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F1Article 9Persons who effectively direct the business
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F1Article 10Shareholders and members with qualifying holdings
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F1Article 10aAssessment period
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F1Article 10bAssessment
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F1Article 11Membership of an authorised Investor Compensation Scheme
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F1Article 12Initial capital endowment
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F1Article 13Organisational requirements
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F1Article 14Trading process and finalisation of transactions in an MTF
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F1Article 15Relations with third countries
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F1CHAPTER IIOPERATING CONDITIONS FOR INVESTMENT FIRMS
F1Section 1General provisions
F1Article 16Regular review of conditions for initial authorisation
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F1Article 17General obligation in respect of on-going supervision
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F1Article 18Conflicts of interest
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F1Section 2Provisions to ensure investor protection
F1Article 19Conduct of business obligations when providing investment services to clients
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F1Article 20Provision of services through the medium of another investment firm
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F1Article 21Obligation to execute orders on terms most favourable to the client
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F1Article 22Client order handling rules
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F1Article 23Obligations of investment firms when appointing tied agents
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F1Article 24Transactions executed with eligible counterparties
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F1Section 3Market transparency and integrity
F1Article 25Obligation to uphold integrity of markets, report transactions and maintain records
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F1Article 26Monitoring of compliance with the rules of the MTF and with other legal obligations
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F1Article 27Obligation for investment firms to make public firm quotes
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F1Article 28Post-trade disclosure by investment firms
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F1Article 29Pre-trade transparency requirements for MTFs
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F1Article 30Post-trade transparency requirements for MTFs
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F1CHAPTER IIIRIGHTS OF INVESTMENT FIRMS
F1Article 31Freedom to provide investment services and activities
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F1Article 32Establishment of a branch
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F1Article 33Access to regulated markets
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F1Article 34Access to central counterparty, clearing and settlement facilities and right to designate settlement system
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F1Article 35Provisions regarding central counterparty, clearing and settlement arrangements in respect of MTFs
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Repealed by 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).