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Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (Text with EEA relevance)
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Regulation (EU) No 600/2014 of the European Parliament and of the Council, 3 is up to date with all changes known to be in force on or before 15 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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The following are professional clients in relation to all investment services and activities and financial instruments for the purposes of the Regulation—
(a)entities which are required to be authorised or regulated to operate in the financial markets (including all authorised entities carrying out the characteristic activities of the entities mentioned: entities which are authorised or regulated in the United Kingdom under FSMA, entities authorised by a Member State under a Directive, entities authorised or regulated by a Member State without reference to a Directive, and entities authorised or regulated by another third country) and comprising—
(i)credit institutions;
(ii)investment firms;
(iii)other authorised or regulated financial institutions;
(iv)insurance companies;
(v)collective investment schemes and management companies of such schemes;
(vi)pension funds and management companies of such funds;
(vii)commodity and commodity derivatives dealers;
(viii)locals;
(ix)other institutional investors;
(b)large undertakings meeting two of the following size requirements on a company basis—
(i)the total on their balance sheet is 20 million euros or more;
(ii)their net turnover is 40 million euros or more;
(iii)they have own funds of 2 million euros or more;
(c)national and regional governments, including public bodies that manage public debt at national or regional level, Central Banks, international and supranational institutions such as the World Bank, the International Monetary Fund, the European Central Bank, the European Investment Bank and other similar international organisations;
(d)other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitisation of assets or other financing transactions.]
Textual Amendments
F1Schs. 1, 2 inserted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 36 (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
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