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