+CHAPTER II Operating conditions for investment firms
---+Section 1 General provisions
------+Article 21 Regular review of conditions for initial authorisation
---------+Article 21 1.
---------+Article 21 2.
------+Article 22 General obligation in respect of on-going supervision
------+Article 23 Conflicts of interest
---------+Article 23 1.
---------+Article 23 2.
---------+Article 23 3.
---------+Article 23 4.
---+Section 2 Provisions to ensure investor protection
------+Article 24 General principles and information to clients
---------+Article 24 1.
---------+Article 24 2.
---------+Article 24 3.
---------+Article 24 3a.
---------+Article 24 3b.
---------+Article 24 3c.
---------+Article 24 3d.
---------+Article 24 3e.
---------+Article 24 4.
---------+Article 24 5.
---------+Article 24 5a.
---------+Article 24 6.
---------+Article 24 7.
---------+Article 24 8.
---------+Article 24 9.
---------+Article 24 9a.
---------+Article 24 10.
---------+Article 24 11.
---------+Article 24 12.
---------+Article 24 13.
---------+Article 24 14.
------+Article 25 Assessment of suitability and appropriateness and reporting to clients
---------+Article 25 1.
---------+Article 25 2.
---------+Article 25 3.
---------+Article 25 4.
---------+Article 25 5.
---------+Article 25 6.
---------+Article 25 7.
---------+Article 25 8.
---------+Article 25 9.
---------+Article 25 10.
---------+Article 25 11.
------+Article 26 Provision of services through the medium of another investment firm
------+Article 27 Obligation to execute orders on terms most favourable to the client
---------+Article 27 1.
---------+Article 27 3.
---------+Article 27 4.
---------+Article 27 5.
---------+Article 27 7.
---------+Article 27 8.
---------+Article 27 9.
---------+Article 27 10.
------+Article 28 Client order handling rules
---------+Article 28 1.
---------+Article 28 2.
---------+Article 28 3.
------+Article 29 Obligations of investment firms when appointing tied agents
---------+Article 29 1.
---------+Article 29 2.
---------+Article 29 3.
---------+Article 29 4.
---------+Article 29 5.
---------+Article 29 6.
------+Article 29a Services provided to professional clients
---------+Article 29a 1.
---------+Article 29a 2.
---------+Article 29a 3.
------+Article 30 Transactions executed with eligible counterparties
---------+Article 30 1.
---------+Article 30 2.
---------+Article 30 3.
---------+Article 30 4.
---------+Article 30 5.
---+Section 3 Market transparency and integrity
------+Article 31 Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations
---------+Article 31 1.
---------+Article 31 2.
---------+Article 31 3.
---------+Article 31 4.
------+Article 32 Suspension and removal of financial instruments from trading on an MTF or an OTF
---------+Article 32 1.
---------+Article 32 2.
---------+Article 32 3.
---------+Article 32 4.
---+Section 4 SME growth markets
------+Article 33 SME growth markets
---------+Article 33 1.
---------+Article 33 2.
---------+Article 33 3.
---------+Article 33 3a.
---------+Article 33 4.
---------+Article 33 5.
---------+Article 33 6.
---------+Article 33 7.
---------+Article 33 8.
---------+Article 33 9.

CHAPTER II Operating conditions for investment firms

CHAPTER II Operating conditions for investment firms

1. Overview

,
Section 1 General provisions Section 1 General provisions
Section 2 Provisions to ensure investor protection Section 2 Provisions to ensure investor protection
Section 3 Market transparency and integrity Section 3 Market transparency and integrity
Section 4 SME growth markets Section 4 SME growth markets

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • Builddate: 06.06.2026 00:00:00 -Doknr: CELEX:32014L0065
  • EULAW -

    EN: Legal acts of the European Union from EUR-Lex, https://eur-lex.europa.eu/. © European Union. Re-use is authorised by Decision 2011/833/EU, provided the source is acknowledged; the consolidated texts are licensed under CC BY 4.0 (EUR-Lex legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the legislation published in the Official Journal of the European Union is deemed authentic.

    DE: Rechtsakte der Europäischen Union aus EUR-Lex, https://eur-lex.europa.eu/. © Europäische Union. Weiterverwendung nach Beschluss 2011/833/EU mit Quellenangabe gestattet; die konsolidierten Fassungen stehen unter CC BY 4.0 (Rechtlicher Hinweis von EUR-Lex). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Verbindlich sind allein die im Amtsblatt der Europäischen Union veröffentlichten Rechtsakte.