EU · MiFID II · TITLE II AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS · CHAPTER I Conditions and procedures for authorisation
Article 13 MiFID IIAssessment
Sets the criteria for assessing a proposed acquisition of a qualifying holding in an investment firm: the acquirer's reputation and financial soundness, the reputation and experience of those who will direct the business, continued compliance with prudential requirements and supervisability, and money laundering or terrorist financing risk. Authorities may oppose only on those grounds or for incomplete information, must not consider the economic needs of the market, and must treat competing acquirers without discrimination.
Level 3: ESMA Q&As, guidelines and opinions
- Q&AAnsweredExplicit reference · 90%
AI summaryA research budget for a research payment account may be set for a group of client portfolios with sufficiently similar mandates and research needs, such as at desk or strategy level, but each client must still bear a specific research charge allocated fairly, and the approach must be documented and disclosed in the research policy.
Commentary
No law-firm commentary is linked to this provision yet.
393 more documents relate to MiFID II as a whole without naming an article.
UK counterpart
UK transposition not traced in the FCA Handbook. It may sit in FSMA, the Regulated Activities Order or SI 2017/701, which are not yet mapped.
Version history
- From 17 Sept 2014
Each entry is a consolidated version of the act on EUR-Lex in which this provision appears. The text itself is on the official site.