+CHAPTER I Conditions and procedures for authorisation
---+Article 5 Requirement for authorisation
------+Article 5 1.
------+Article 5 2.
------+Article 5 3.
------+Article 5 4.
---+Article 6 Scope of authorisation
------+Article 6 1.
------+Article 6 2.
------+Article 6 3.
---+Article 7 Procedures for granting and refusing requests for authorisation
------+Article 7 1.
------+Article 7 2.
------+Article 7 3.
------+Article 7 4.
------+Article 7 5.
---+Article 8 Withdrawal of authorisations
---+Article 9 Management body
------+Article 9 1.
------+Article 9 2.
------+Article 9 3.
------+Article 9 4.
------+Article 9 5.
------+Article 9 6.
---+Article 10 Shareholders and members with qualifying holdings
------+Article 10 1.
------+Article 10 2.
------+Article 10 3.
---+Article 11 Notification of proposed acquisitions
------+Article 11 1.
------+Article 11 2.
------+Article 11 3.
------+Article 11 4.
---+Article 12 Assessment period
------+Article 12 1.
------+Article 12 2.
------+Article 12 3.
------+Article 12 4.
------+Article 12 5.
------+Article 12 6.
------+Article 12 7.
------+Article 12 8.
------+Article 12 9.
---+Article 13 Assessment
------+Article 13 1.
------+Article 13 2.
------+Article 13 3.
------+Article 13 4.
------+Article 13 5.
---+Article 14 Membership of an authorised investor compensation scheme
---+Article 15 Initial capital endowment
---+Article 16 Organisational requirements
------+Article 16 1.
------+Article 16 2.
------+Article 16 3.
------+Article 16 4.
------+Article 16 5.
------+Article 16 6.
------+Article 16 7.
------+Article 16 8.
------+Article 16 9.
------+Article 16 10.
------+Article 16 11.
------+Article 16 12.
---+Article 16a Exemptions from product governance requirements
---+Article 17 Algorithmic trading
------+Article 17 1.
------+Article 17 2.
------+Article 17 3.
------+Article 17 4.
------+Article 17 5.
------+Article 17 6.
------+Article 17 7.
---+Article 18 Trading process and finalisation of transactions in an MTF and an OTF
------+Article 18 1.
------+Article 18 2.
------+Article 18 3.
------+Article 18 4.
------+Article 18 5.
------+Article 18 6.
------+Article 18 7.
------+Article 18 8.
------+Article 18 9.
------+Article 18 10.
------+Article 18 11.
---+Article 19 Specific requirements for MTFs
------+Article 19 1.
------+Article 19 2.
------+Article 19 3.
------+Article 19 4.
------+Article 19 5.
---+Article 20 Specific requirements for OTFs
------+Article 20 1.
------+Article 20 2.
------+Article 20 3.
------+Article 20 4.
------+Article 20 5.
------+Article 20 6.
------+Article 20 7.
------+Article 20 8.

CHAPTER I Conditions and procedures for authorisation

CHAPTER I Conditions and procedures for authorisation

1. Pregled

,
Article 5 Requirement for authorisation
Article 6 Scope of authorisation
Article 7 Procedures for granting and refusing requests for authorisation
Article 8 Withdrawal of authorisations

Article 8

Withdrawal of authorisations

The competent authority may withdraw the authorisation issued to an investment firm where such an investment firm:

(a) 

does not make use of the authorisation within 12 months, expressly renounces the authorisation or has provided no investment services or performed no investment activity for the preceding six months, unless the Member State concerned has provided for authorisation to lapse in such cases;

(b) 

has obtained the authorisation by making false statements or by any other irregular means;

▼M4

(c) 

no longer meets the conditions under which authorisation was granted, such as compliance with the conditions set out in Regulation (EU) 2019/2033 of the European Parliament and of the Council ( 10 );

▼B

(d) 

has seriously and systematically infringed the provisions adopted pursuant to this Directive or Regulation (EU) No 600/2014 governing the operating conditions for investment firms;

(e) 

falls within any of the cases where national law, in respect of matters outside the scope of this Directive, provides for withdrawal.

Every withdrawal of authorisation shall be notified to ESMA.
Article 9 Management body
Article 10 Shareholders and members with qualifying holdings
Article 11 Notification of proposed acquisitions
Article 12 Assessment period
Article 13 Assessment
Article 14 Membership of an authorised investor compensation scheme

Article 14

Membership of an authorised investor compensation scheme

The competent authority shall verify that any entity seeking authorisation as an investment firm meets its obligations under Directive 97/9/EC at the time of authorisation.

The obligation laid down in the first paragraph shall be met in relation to structured deposits where the structured deposit is issued by a credit institution which is a member of a deposit guarantee scheme recognised under Directive 2014/49/EU.
Article 15 Initial capital endowment

Article 15

Initial capital endowment

Member States shall ensure that the competent authorities do not grant authorisation unless the investment firm has sufficient initial capital in accordance with the requirements of Article 9 of Directive (EU) 2019/2034 of the European Parliament and of the Council ( 11 ), having regard to the nature of the investment service or activity in question.
Article 16 Organisational requirements
Article 16a Exemptions from product governance requirements

Article 16a

Exemptions from product governance requirements

An investment firm shall be exempted from the requirements set out in the second to fifth subparagraphs of Article 16(3) and in Article 24(2), where the investment service it provides relates to bonds with no other embedded derivative than a make-whole clause or where the financial instruments are marketed or distributed exclusively to eligible counterparties.
Article 17 Algorithmic trading
Article 18 Trading process and finalisation of transactions in an MTF and an OTF
Article 19 Specific requirements for MTFs
Article 20 Specific requirements for OTFs

1.1 Sklici

1.2 Ugotovljene zahteve

1.3 Povezani standardi

2. Ugotovljene zahteve

Zahteve

3. Povezani standardi

Standardi