European Communities (Markets in Financial Instruments) Regulations 2007
Source: Iris Oifigiúl 2007-03-09

num: 1
paragraphs: Citation and commencement
PART 2 - DEFINITIONS AND SCOPE
num: 2
paragraphs: Object and scope of these Regulations
num: 3
paragraphs: Interpretation
num: 4
paragraphs: Competent Authority
num: 5
paragraphs: Exemptions
PART 3 - TRANSITIONAL
num: 6
paragraphs: Existing regulation
PART 4 - AUTHORISATION OF INVESTMENT FIRMS
num: 7
paragraphs: Requirement for authorisation
num: 8
paragraphs: When investment firm may be regarded as operating in the State
num: 9
paragraphs: Bank to establish and maintain register of investment firms
num: 10
paragraphs: Requirements of investment firm authorisations
num: 11
paragraphs: Application to Bank for an authorisation to operate as an investment firm
num: 12
paragraphs: Prerequisites relating to qualifying holdings in investment firms
num: 13
paragraphs: Prerequisites to granting authorisations for investment firms
num: 14
paragraphs: Bank may obtain further information from applicant by request, inquiry or investigation
num: 15
paragraphs: Time frame for granting and refusing applications for authorisations for investment firms
num: 16
paragraphs: Investment firms - capital, management, structure, control
num: 17
paragraphs: Unincorporated investment firms - special provisions
num: 18
paragraphs: Investment firms, dividing responsibility between their home and host Member States
num: 19
paragraphs: Prohibition against false or misleading application for investment firm authorisation
num: 20
paragraphs: Scope of authorisation
num: 21
paragraphs: Withdrawal of authorisations for investment firms
num: 22
paragraphs: Court may revoke authorisation on application by Bank
num: 23
paragraphs: Bank to give notice of proposed withdrawal or revocation of authorisation
num: 24
paragraphs: Publication of withdrawal or revocation of authorisation
num: 25
paragraphs: Definitions for Regulations 25 to 28
num: 26
paragraphs: Continued responsibilities of former authorised investment firms
num: 27
paragraphs: Bank supervision of certain activities of former authorised investment firms
num: 28
paragraphs: Certain obligations of persons responsible during firm's termination process
PART 5 - REGULATION AND SUPERVISION OF INVESTMENT FIRMS
num: 29
paragraphs: Persons who effectively direct the business
num: 30
paragraphs: Shareholders and members with qualifying holdings
num: 31
paragraphs: Membership of authorised Investor Compensation Scheme
num: 32
paragraphs: Initial capital endowment
num: 33
paragraphs: Organisational requirements
num: 34
paragraphs: Further - business procedures, internal control mechanisms and reporting, etc.
num: 35
paragraphs: Further - monitoring and evaluating systems, control mechanisms and the like
num: 36
paragraphs: Risk management function
num: 37
paragraphs: Internal audit function, supervisory function and senior management
num: 38
paragraphs: Complaint procedures
num: 39
paragraphs: Personal transaction procedures
num: 40
paragraphs: Retention of records
num: 41
paragraphs: Trading process and finalisation of transactions in an MTF
num: 42
paragraphs: Relations with third countries
PART 6 - REGULATED MARKETS
num: 43
paragraphs: Authorisation and applicable law
num: 44
paragraphs: Trading under regulated markets subject to Irish law
num: 45
paragraphs: Market operator's responsibility for establishing regulated market
num: 46
paragraphs: Regular review by Bank of market operators and regulated markets
num: 47
paragraphs: Application to Bank for an authorisation to operate a regulated market
num: 48
paragraphs: Prerequisites to granting authorisations for regulated markets
num: 49
paragraphs: Bank may obtain further information from applicant by request, inquiry or investigation
num: 50
paragraphs: Time frame for granting or refusing applications for authorisations for regulated markets
num: 51
paragraphs: Regulated markets - management, structure, control
num: 52
paragraphs: Prohibition against false or misleading application to operate regulated market
num: 53
paragraphs: Withdrawal of authorisations for regulated markets
num: 54
paragraphs: Bank may apply to Court for order revoking authorisation
num: 55
paragraphs: Bank to give notice of proposed withdrawal or revocation of authorisation
num: 56
paragraphs: Publication of withdrawal or revocation of authorisation
num: 57
paragraphs: Definitions for Regulations 57 to 60
num: 58
paragraphs: Continued responsibilities of former market operators
num: 59
paragraphs: Bank supervision of certain activities of former market operators
num: 60
paragraphs: Certain obligations of former market operators during operator's termination process
num: 61
paragraphs: Requirements for the management and operation of the regulated market
num: 62
paragraphs: Requirements relating to persons exercising significant influence over the management of the regulated market
num: 63
paragraphs: Organisational requirements
num: 64
paragraphs: Admission of financial instruments to trading
num: 65
paragraphs: Suspension and removal of instruments from trading
num: 66
paragraphs: Access to the regulated market
num: 67
paragraphs: Monitoring of compliance with the rules of the regulated market and with other legal obligations
num: 68
paragraphs: Pre-trade transparency requirements for regulated markets
num: 69
paragraphs: Post-trade transparency requirements for regulated markets
num: 70
paragraphs: Provisions regarding central counterparty and clearing and settlement arrangements
num: 71
paragraphs: List of regulated markets
PART 7 - OPERATING CONDITIONS FOR INVESTMENT FIRMS
num: 72
paragraphs: Review of conditions for initial authorisation
num: 73
paragraphs: General obligation in respect of on-going supervision
num: 74
paragraphs: Conflicts of interest
num: 75
paragraphs: Conflicts of interest continued
num: 76
paragraphs: Conduct of business obligations when providing investment services to clients
num: 77
paragraphs: Provision of certain types of information by investment firms to clients
num: 78
paragraphs: Certain conduct not regarded as in client's best interests
num: 79
paragraphs: Bank may impose additional requirements in exceptional cases
num: 80
paragraphs: Information for clients and potential clients
num: 81
paragraphs: Information for retail clients, professional clients and eligible counterparties
num: 82
paragraphs: Providing certain general information for clients
num: 83
paragraphs: Portfolio management
num: 84
paragraphs: Information about nature and risks of financial instruments
num: 85
paragraphs: Information about financial instrument subject to public offering
num: 86
paragraphs: Information about financial instrument subject to public offering
num: 87
paragraphs: Information about financial instrument with guarantee by third party
num: 88
paragraphs: Information abut financial instrument belonging to retail clients
num: 89
paragraphs: Accounts subject to another jurisdiction
num: 90
paragraphs: Accounts subject to investment firm security interest
num: 91
paragraphs: When investment firm enters into certain security financing transactions
num: 92
paragraphs: Information on costs and charges
num: 93
paragraphs: Collective investment undertakings
num: 94
paragraphs: Assessment of suitability and appropriateness
num: 95
paragraphs: Non-complex instruments
num: 96
paragraphs: Reporting to clients
num: 97
paragraphs: Best execution
num: 98
paragraphs: Investment firm to act in clients’ best interests
num: 99
paragraphs: Conduct of business obligations in more limited circumstances
num: 100
paragraphs: Duty of investment firm to record rights and obligations
num: 101
paragraphs: Duty of investment firm to report to clients about transactions, services and costs
num: 102
paragraphs: Regulations 76 to 101 inapplicable to specific financial products otherwise regulated
num: 103
paragraphs: Provision of services through the medium of another firm
num: 104
paragraphs: Critical and important operational functions
num: 105
paragraphs: Investment firm's responsibilities respecting outsourcing to service provider
num: 106
paragraphs: Obligation to execute orders on terms most favourable to client
num: 107
paragraphs: Client order handing by investment firms
num: 108
paragraphs: Client order handling rules
num: 109
paragraphs: Obligations of investment firms when appointing tied agents
num: 110
paragraphs: Public registry of tied agents to be maintained by Bank
num: 111
paragraphs: Transactions executed with eligible counterparties
PART 8 - MARKET TRANSPARENCY AND INTEGRITY
num: 112
paragraphs: Obligation to uphold integrity of markets, report transactions and maintain records
num: 113
paragraphs: Monitoring of compliance with the rules of the MTF and with other legal obligations
num: 114
paragraphs: Obligation for investment firms to make public firm quotes
num: 115
paragraphs: Bank to determine classes to which particular shares belong
num: 116
paragraphs: Further duties of systematic internalisers respecting their quotes
num: 117
paragraphs: Bank to monitor for compliance
num: 118
paragraphs: Business risk-reductions measures available to system internalisers
num: 119
paragraphs: Post-trade disclosure by investment firms
num: 120
paragraphs: Pre-trade transparency requirements for MTFs
num: 121
paragraphs: Post-trade transparency requirements for MTFs
PART 9 - CROSS BORDER ACTIVITIES
num: 122
paragraphs: Definition for this Part
num: 123
paragraphs: Freedom of investment firms from other Member States to provide services in State
num: 124
paragraphs: Investment firms and market operators providing services in other Member States
num: 125
paragraphs: Investment firms authorised in other Member States establishing branches in Ireland
num: 126
paragraphs: Application of this Part to investment firms with branches in the State
num: 127
paragraphs: Authorised investment firms establishing branches in other Member States
num: 128
paragraphs: Access to regulated markets
num: 129
paragraphs: Access to central counterparty, clearing and settlement facilities and right to designate settlement system
num: 130
paragraphs: Provisions regarding central counterparty, clearing and settlement arrangements in respect of MTFs
num: 131
paragraphs: Delegation by the Bank
num: 132
paragraphs: Obligation to assist and cooperate with other Member States
num: 133
paragraphs: Reciprocal duties of competent authorities respecting misconduct by regulated entities in other Member States
num: 134
paragraphs: Cooperation in supervisory activities, on-the-spot verifications or in investigations
num: 135
paragraphs: Exchange of information between competent authorities
num: 136
paragraphs: Refusal to cooperate
num: 137
paragraphs: Inter-authority consultation before authorisation
num: 138
paragraphs: Powers for host Member States
num: 139
paragraphs: Precautionary measures by Bank respecting misconduct by investment firms from other Member States
num: 140
paragraphs: Further precautionary measures: misconduct of investment firm with branch in State
num: 141
paragraphs: Further precautionary measures: misconduct of market operator of MTF in the State
num: 142
paragraphs: Sanctions and restrictions to be justified and communicated
num: 143
paragraphs: Exchange of information with third countries
PART 11 - AUDITORS
num: 144
paragraphs: Relations with auditors
PART 12 - REGULATION AND SUPERVISION
num: 145
paragraphs: Imposition of conditions or requirements
num: 146
paragraphs: Further to Regulation 145
num: 147
paragraphs: Directions by the Bank
num: 148
paragraphs: Further to Regulation 147
num: 149
paragraphs: Bank may apply to Court for orders confirming directions
num: 150
paragraphs: Winding-up on application to Court
num: 151
paragraphs: Definitions for Regulations 151 and 152
num: 152
paragraphs: Restrictions on advertising
num: 153
paragraphs: Consequences of advertising contrary to Regulations
num: 154
paragraphs: Miscellaneous requirements respecting advertising
num: 155
paragraphs: Requirements respecting investment research by investment firms
num: 156
paragraphs: Exemption from restrictions on advertising
num: 157
paragraphs: Liquidators, receivers, administrators, examiners, official assignees or creditors
num: 158
paragraphs: Application to the Court
num: 159
paragraphs: Prohibition against misappropriation
num: 160
paragraphs: Safeguarding clients’ rights relative to financial instruments
num: 161
paragraphs: Deposit of financial instruments and funds by investment firms
num: 162
paragraphs: Securities financing transactions of investment firms
num: 163
paragraphs: Warning notices
PART 13 - ENFORCEMENT
num: 164
paragraphs: Authorised Officers
num: 165
paragraphs: Powers of authorised officers
num: 166
paragraphs: Appointment of inspector by Court
num: 167
paragraphs: Power of inspector to extend investigation
num: 168
paragraphs: Direction to inspector by Court
num: 169
paragraphs: Powers of inspection
num: 170
paragraphs: Expenses of and fees relating to an investigation
num: 171
paragraphs: Inspectors’ reports and proceedings thereon
num: 172
paragraphs: Powers of Court following consideration of reports
num: 173
paragraphs: Appointment of inspector by the Bank
num: 174
paragraphs: Search and seizure
num: 175
paragraphs: Admissibility in evidence of reports of inspectors
num: 176
paragraphs: Privilege
num: 177
paragraphs: Consent to publication of information
PART 14 - ACQUIRING TRANSACTIONS
num: 178
paragraphs: Definitions for the purposes of this Part
num: 179
paragraphs: Notification of certain transactions
num: 180
paragraphs: Approval of acquiring transactions
num: 181
paragraphs: Period for implementing acquiring transactions
num: 182
paragraphs: Imposition of conditions or requirements in respect of proposed acquiring transactions
num: 183
paragraphs: Limitation on validity of certain acquiring transactions
num: 184
paragraphs: Refusal to approve acquiring transactions
num: 185
paragraphs: Inquiries into certain acquiring transactions
num: 186
paragraphs: Obligation to inform a supervisory authority of shareholdings
num: 187
paragraphs: Contravention of terms of approval of acquiring transactions
PART 15 - OFFENCES
num: 188
paragraphs: Summary conviction offences
num: 189
paragraphs: Offences by bodies corporate
num: 190
paragraphs: Summary proceedings may be brought by Bank
PART 16 - APPEALS AND MISCELLANEOUS
num: 191
paragraphs: Rights of appeals against Bank decisions
PART 17 - AMENDMENTS TO OTHER ACTS
num: 192
paragraphs: Amendment of section 33AK(10) of Central Bank Act 1942