F1TITLE IIAUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS

Annotations:

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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