# Instrument Metadata
# Output tuned for LLM consumption -- deterministic parse of the
# EUR-Lex source, no LLM involved in generation.

instrument_id: mifid-ii
celex: "32014L0065"
eli: "http://data.europa.eu/eli/dir/2014/65/oj"
full_title: Markets in Financial Instruments Directive (EU) 2014/65
short_title: MiFID II
instrument_type: directive
document_type: directive
normative_weight: binding
jurisdiction: EU
effective_period:
  from: "2014-07-02"
  to: null
dates:
  adopted: "2014-05-15"
  entered_into_force: "2014-07-02"
status: in_force
legal_status: in_force
structure_levels:
  - title
  - chapter
  - article
total_articles: 93
total_recitals: 0
total_annexes: 4
definitions_article: 4
chunk_strategy: by_chapter
chunks:
  - /mifid-ii/chunks/mifid-ii_t01_scope_and_definitions.md
  - /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
  - /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
  - /mifid-ii/chunks/mifid-ii_t02_ch03_rights_of_investment_firms.md
  - /mifid-ii/chunks/mifid-ii_t02_ch04_provision_of_investment_services_and_act.md
  - /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
  - /mifid-ii/chunks/mifid-ii_t04_position_limits_and_position_management_.md
  - /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
  - /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
  - /mifid-ii/chunks/mifid-ii_t06_ch03_cooperation_with_third_countries.md
  - /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
  - /mifid-ii/chunks/annexes.md
key_dates:
  - date: "2014-01-01"
    type: deadline
    article: "12"
    context: "…ESMA shall submit those draft regulatory technical standards to the Commission by 1 January 2014. Power is delegated to the Commission…"
  - date: "2014-05-15"
    type: lifecycle
    context: "Adopted"
  - date: "2014-07-02"
    type: deadline
    article: "16"
    context: "…notified to the Commission in accordance with Article 4 of Directive 2006/73/EC before 2 July 2014 and that the conditions laid down in…"
  - date: "2014-07-02"
    type: deadline
    article: "24"
    context: "…notified to the Commission in accordance with Article 4 of Directive 2006/73/EC before 2 July 2014 provided that the conditions laid…"
  - date: "2014-07-02"
    type: deadline
    article: "3"
    context: "…that already have in place such laws, regulations or administrative provisions before 2 July 2014 may until 3 July 2019 require that…"
  - date: "2014-07-02"
    type: lifecycle
    context: "Entered into force"
  - date: "2015-07-03"
    type: deadline
    article: "17"
    context: "…firm. ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "32"
    context: "…ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "34"
    context: "…7. ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "35"
    context: "…10. ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "49"
    context: "…ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "51"
    context: "…law. ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "52"
    context: "…ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "57"
    context: "…technical standards referred to in the first subparagraph to the Commission by 3 July 2015. Power shall be delegated to the…"
  - date: "2015-07-03"
    type: deadline
    article: "7"
    context: "…(2). ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2015-07-03"
    type: deadline
    article: "80"
    context: "…ESMA shall submit those draft regulatory technical standards to the Commission by 3 July 2015. Power is delegated to the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "18"
    context: "…10. ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "24"
    context: "…modifies the risks. ESMA, in cooperation with EBA and EIOPA, shall develop by 3 January 2016, and update periodically, guidelines…"
  - date: "2016-01-03"
    type: deadline
    article: "25"
    context: "…of paragraph 6, their classification as eligible counterparties. 9. ESMA shall adopt by 3 January 2016 guidelines specifying criteria for…"
  - date: "2016-01-03"
    type: deadline
    article: "32"
    context: "…2. ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "35"
    context: "…10. ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "45"
    context: "…the management body as referred to in paragraph 5. ESMA shall issue those guidelines by 3 January 2016."
  - date: "2016-01-03"
    type: deadline
    article: "49"
    context: "…ESMA shall submit any such draft regulatory technical standards to the Commission by 3 January 2016. Power is delegated to the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "52"
    context: "…2. ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "58"
    context: "…2. ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "7"
    context: "…ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "71"
    context: "…ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "79"
    context: "…2. ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "80"
    context: "…ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "81"
    context: "…ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: deadline
    article: "84"
    context: "…ESMA shall submit those draft implementing technical standards to the Commission by 3 January 2016. Power is conferred on the Commission…"
  - date: "2016-01-03"
    type: review
    article: "25"
    context: "…of knowledge and competence required under paragraph 1. 10. ESMA shall develop by 3 January 2016, and update periodically, guidelines…"
  - date: "2016-12-31"
    type: deadline
    article: "34"
    context: "…7. ESMA shall submit those draft implementing technical standards to the Commission by 31 December 2016. Power is conferred on the Commission…"
  - date: "2017-07-03"
    type: deadline
    article: "69"
    context: "…produced in compliance with the EU code of conduct for issuer-sponsored research. By 3 July 2017, the Member States shall notify the…"
  - date: "2017-07-03"
    type: deadline
    article: "70"
    context: "…States shall communicate to the Commission the relevant criminal law provisions. By 3 July 2017 Member States shall notify the laws,…"
  - date: "2017-07-03"
    type: deadline
    article: "93"
    context: "1. Member States shall adopt and publish, by 3 July 2017, the laws, regulations and…"
  - date: "2018-01-03"
    type: application
    article: "93"
    context: "…Commission the text of those measures. Member States shall apply those measures from 3 January 2018. When Member States adopt those…"
  - date: "2018-01-03"
    type: application
    article: "94"
    context: "…by the acts listed in Annex III, Part A of this Directive, is repealed with effect from 3 January 2018, without prejudice to the obligations…"
  - date: "2018-01-03"
    type: application
    article: "95"
    context: "…counterparties that shall be authorised for the first time as investment firms as from 3 January 2018; and (b) such C6 energy derivative…"
  - date: "2019-01-01"
    type: review
    article: "90"
    context: "…adopted in relation to trading that takes place on third country trading venues. 4. By 1 January 2019 the Commission shall prepare a…"
  - date: "2019-07-03"
    type: deadline
    article: "3"
    context: "…place such laws, regulations or administrative provisions before 2 July 2014 may until 3 July 2019 require that where the persons exempt…"
  - date: "2019-12-25"
    type: deadline
    article: "95a"
    context: "…which has applied for authorisation pursuant to Title II of this Directive before 25 December 2019 in order to carry out the activities…"
  - date: "2020-03-03"
    type: review
    article: "90"
    context: "1. Before 3 March 2020 the Commission shall, after…"
  - date: "2020-07-01"
    type: review
    article: "33"
    context: "…(a), of this Article. 9. The Commission shall set up an expert stakeholder group by 1 July 2020 to monitor the functioning and…"
  - date: "2020-09-26"
    type: deadline
    article: "41"
    context: "…ESMA shall submit those draft implementing technical standards to the Commission by 26 September 2020. Power is conferred on the Commission…"
  - date: "2021-01-03"
    type: deadline
    article: "95"
    context: "1. Until 3 January 2021 : (a) the clearing obligation set out…"
  - date: "2021-07-01"
    type: review
    article: "33"
    context: "…group by 1 July 2020 to monitor the functioning and success of SME growth markets. By 1 July 2021, the expert stakeholder group shall…"
  - date: "2021-07-31"
    type: deadline
    article: "2"
    context: "…of point (c) of paragraph 1 when an activity is provided in an incidental manner. 4. By 31 July 2021, the Commission shall adopt a…"
  - date: "2021-11-28"
    type: deadline
    article: "57"
    context: "…standards referred to in the third and fourth subparagraphs to the Commission by 28 November 2021. Power is delegated to the Commission…"
  - date: "2021-12-31"
    type: review
    article: "90"
    context: "…the proper functioning of the internal market on cross-border investment advice. 1a. By 31 December 2021, the Commission shall review the…"
  - date: "2023-03-23"
    type: application
    article: "93"
    context: "…and shall communicate them to the Commission. They shall apply those provisions from 23 March 2023. By way of derogation from the first…"
  - date: "2023-03-23"
    type: deadline
    article: "93"
    context: "…of national law which they adopt in the field covered by this Directive. 3a. By 23 March 2023, Member States shall adopt and…"
  - date: "2024-07-31"
    type: review
    article: "90"
    context: "…— the report referred to in the first subparagraph, point (b), of this paragraph by 31 July 2024, and — the reports referred to in the…"
  - date: "2024-12-29"
    type: deadline
    article: "27"
    context: "…5. ESMA shall submit those draft regulatory technical standards to the Commission by 29 December 2024. Power is delegated to the Commission…"
  - date: "2025-03-29"
    type: review
    article: "48"
    context: "…5. ESMA shall submit those draft regulatory technical standards to the Commission by 29 March 2025. Power is delegated to the Commission…"
  - date: "2025-07-31"
    type: review
    article: "90"
    context: "…reports referred to in the first subparagraph, points (a) and (c), of this paragraph by 31 July 2025. Those reports shall, where…"
  - date: "2025-12-05"
    type: deadline
    article: "24"
    context: "…ESMA shall submit those draft regulatory technical standards to the Commission by 5 December 2025. Power is delegated to the Commission…"
  - date: "2026-06-05"
    type: deadline
    article: "33"
    context: "…disclosure, with regard to the other trading venue. ESMA shall develop guidelines by 5 June 2026 with respect to the procedures for…"
  - date: "2028-12-05"
    type: review
    article: "24"
    context: "…shall be made available on an annual basis to the investment firm’s clients. By 5 December 2028, ESMA shall prepare a report with a…"
  - date: "2028-12-05"
    type: review
    article: "90"
    context: "…derivatives, emission allowances or derivatives of emission allowances framework. 6. By 5 December 2028, the Commission shall review and…"
  - date: "2030-01-09"
    type: deadline
    article: "87a"
    context: "…investment firms, market operators and issuers obtain a legal entity identifier. 3. By 9 January 2030, for the purpose of making the…"

generated_at: "2026-09-08T12:37:03.168Z"

articles:
  - article_number: 1
    article_title: Scope
    chunk_file: /mifid-ii/chunks/mifid-ii_t01_scope_and_definitions.md
    path: "Title I > Article 1"
    applies_to_entities:
      - credit_institutions
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - scope
      - definitions
      - authorisation
    keywords:
      - authorisation
      - supervision
      - POS
      - branch
      - ITS
      - investment firm
      - client
      - market operator
      - regulated market
      - mtf
      - credit institution
      - structured deposit
      - third-country firm
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 2
        paragraph: "2"
      - target: Article 9
        paragraph: "3"
      - target: Article 14
      - target: Article 16
      - target: Article 17
      - target: Article 18
      - target: Article 19
      - target: Article 20
      - target: Article 29
        paragraph: "2"
      - target: Article 34
        paragraph: "2"
      - target: Article 34
        paragraph: "3"
      - target: Article 35
        paragraph: "2"
      - target: Article 67
      - target: Article 68
      - target: Article 69
      - target: Article 70
      - target: Article 71
      - target: Article 72
      - target: Article 73
      - target: Article 74
      - target: Article 75
      - target: Article 80
      - target: Article 85
      - target: Article 86
      - target: Article 16
        paragraph: "2"
      - target: Article 16
        paragraph: "3"
      - target: Article 16
        paragraph: "6"
      - target: Article 23
      - target: Article 24
      - target: Article 25
      - target: Article 26
      - target: Article 28
      - target: Article 29
      - target: Article 30
      - target: Article 17
        paragraph: "1"
      - target: Article 2
        paragraph: "1"
      - target: Article 57
      - target: Article 58
      - target: Article 2
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
    recitals: []

  - article_number: 2
    article_title: Exemptions
    chunk_file: /mifid-ii/chunks/mifid-ii_t01_scope_and_definitions.md
    path: "Title I > Article 2"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
      - european_central_bank
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - scope
      - definitions
      - insurance
      - reinsurance
      - investment_funds
      - trading_venues
    keywords:
      - API
      - transaction
      - POS
      - agent
      - settlement
      - system
      - scheme
      - network
      - guidelines
      - investment advice
      - dealing on own account
      - market maker
      - client
      - financial instrument
      - regulated market
      - mtf
      - trading venue
      - competent authority
      - parent undertaking
      - group
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 201
      - target: Article 89
    external_references:
      - instrument_type: directive
        reference: "2009/138/EC"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "909/2014"
      - instrument_type: regulation
        reference: "2020/1503"
      - instrument_type: regulation
        reference: "648/2012"
    recitals: []

  - article_number: 3
    article_title: Optional exemptions
    chunk_file: /mifid-ii/chunks/mifid-ii_t01_scope_and_definitions.md
    path: "Title I > Article 3"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - scope
      - definitions
      - authorisation
      - liability
      - investment_funds
      - trading_venues
      - implementing_acts
      - passporting
    keywords:
      - API
      - authorisation
      - supervision
      - transfer
      - POS
      - agent
      - branch
      - scheme
      - ITS
      - investment firm
      - investment advice
      - client
      - financial instrument
      - regulated market
      - credit institution
      - tied agent
      - control
      - transferable securities
      - derivatives
      - home member state
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 2
        paragraph: "1"
      - target: Article 5
        paragraph: "1"
      - target: Article 5
        paragraph: "3"
      - target: Article 7
      - target: Article 8
      - target: Article 9
      - target: Article 10
      - target: Article 89
      - target: Article 24
        paragraph: "1"
      - target: Article 24
        paragraph: "3"
      - target: Article 24
        paragraph: "4"
      - target: Article 24
        paragraph: "5"
      - target: Article 24
        paragraph: "7"
      - target: Article 24
        paragraph: "10"
      - target: Article 25
        paragraph: "2"
      - target: Article 25
        paragraph: "5"
      - target: Article 25
        paragraph: "6"
      - target: Article 29
      - target: Article 16
        paragraph: "3"
      - target: Article 16
        paragraph: "6"
      - target: Article 16
        paragraph: "7"
      - target: Article 34
      - target: Article 35
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "575/2013"
      - instrument_type: directive
        reference: "2009/65/EC"
    recitals: []

  - article_number: 4
    article_title: Definitions
    chunk_file: /mifid-ii/chunks/mifid-ii_t01_scope_and_definitions.md
    path: "Title I > Article 4"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - scope
      - definitions
      - authorisation
      - market_risk
      - securitisation
      - reinsurance
      - investment_funds
      - depositary
      - trading_venues
      - governance
    keywords:
      - API
      - supervision
      - transaction
      - transfer
      - POS
      - data
      - access
      - third party
      - agent
      - branch
      - settlement
      - system
      - network
      - RTS
      - ITS
      - reporting
      - investment firm
      - investment services and activities
      - ancillary services
      - investment advice
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
      - target: Article 33
      - target: Article 67
      - target: Article 1
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "575/2013"
      - instrument_type: directive
        reference: "2009/65/EC"
      - instrument_type: directive
        reference: "2009/65/EC"
      - instrument_type: directive
        reference: "2013/34/EU"
      - instrument_type: directive
        reference: "2013/34/EU"
      - instrument_type: directive
        reference: "2013/34"
      - instrument_type: directive
        reference: "2013/34/EU"
      - instrument_type: directive
        reference: "2013/34/EU"
      - instrument_type: directive
        reference: "2014/49/EU"
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "648/2012"
      - instrument_type: regulation
        reference: "909/2014"
    recitals: []

  - article_number: 5
    article_title: Requirement for authorisation
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 5"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - access
      - ITS
      - investment firm
      - market operator
      - mtf
      - otf
      - competent authority
      - home member state
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 67
      - target: Article 8
    external_references: []
    recitals: []

  - article_number: 6
    article_title: Scope of authorisation
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 6"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - passporting
    keywords:
      - authorisation
      - branch
      - ITS
      - investment firm
      - ancillary services
      - home member state
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 7
    article_title: Procedures for granting and refusing requests for authorisation
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 7"
    applies_to_entities:
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - information_requirements
    keywords:
      - authorisation
      - ITS
      - notification
      - investment firm
      - competent authority
      - qualifying holding
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 9
        paragraph: "6"
      - target: Article 9
        paragraph: "5"
      - target: Article 10
        paragraph: "1"
      - target: Article 10
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 8
    article_title: Withdrawal of authorisations
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 8"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - system
      - investment firm
      - competent authority
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "2019/2033"
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 9
    article_title: Management body
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 9"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_banking_authority
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - governance
      - remuneration
      - conflicts_of_interest
    keywords:
      - SCA
      - authorisation
      - POS
      - ATM
      - access
      - ITS
      - EBA
      - guidelines
      - investment firm
      - investment services and activities
      - ancillary services
      - client
      - competent authority
      - management body
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 5
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2013/36"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2013/36/EU"
    recitals: []

  - article_number: 10
    article_title: Shareholders and members with qualifying holdings
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 10"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
    keywords:
      - authorisation
      - sanction
      - POS
      - ITS
      - investment firm
      - competent authority
      - qualifying holding
      - close links
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 11
    article_title: Notification of proposed acquisitions
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 11"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - information_requirements
      - insurance
      - reinsurance
      - investment_funds
      - trading_venues
    keywords:
      - API
      - sanction
      - transfer
      - POS
      - ITS
      - notification
      - investment firm
      - financial instrument
      - regulated market
      - competent authority
      - credit institution
      - ucits management company
      - qualifying holding
      - parent undertaking
      - subsidiary
      - control
      - transferable securities
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 13
        paragraph: "4"
      - target: Article 10
      - target: Article 13
        paragraph: "1"
      - target: Article 10
        paragraph: "3"
    external_references:
      - instrument_type: directive
        reference: "2009/65/EC"
    recitals: []

  - article_number: 12
    article_title: Assessment period
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 12"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
    keywords:
      - API
      - supervision
      - POS
      - access
      - notification
      - competent authority
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 11
        paragraph: "1"
      - target: Article 13
        paragraph: "4"
      - target: Article 11
        paragraph: "2"
    external_references:
      - instrument_type: directive
        reference: "2009/65/EC"
      - instrument_type: directive
        reference: "2009/138/EC"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 13
    article_title: Assessment
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 13"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - aml
    keywords:
      - supervision
      - POS
      - notification
      - investment firm
      - competent authority
      - qualifying holding
      - group
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 11
        paragraph: "1"
      - target: Article 12
        paragraph: "2"
      - target: Article 89
      - target: Article 12
        paragraph: "1"
      - target: Article 12
        paragraph: "3"
    external_references:
      - instrument_type: directive
        reference: "2002/87/EC"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2005/60/EC"
    recitals: []

  - article_number: 14
    article_title: Membership of an authorised investor compensation scheme
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 14"
    applies_to_entities:
      - credit_institutions
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - deposit_guarantee
    keywords:
      - authorisation
      - POS
      - scheme
      - ITS
      - investment firm
      - competent authority
      - credit institution
      - structured deposit
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: directive
        reference: "2014/49/EU"
    recitals: []

  - article_number: 15
    article_title: Initial capital endowment
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 15"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - API
      - authorisation
      - investment firm
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: directive
        reference: "2019/2034"
    recitals: []

  - article_number: 16
    article_title: Organisational requirements
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 16"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - outsourcing
      - risk_assessment
      - conflicts_of_interest
      - internal_control
    keywords:
      - authentication
      - transaction
      - transfer
      - POS
      - security
      - data
      - access
      - consent
      - outsourcing
      - third party
      - agent
      - branch
      - system
      - ITS
      - notification
      - investment firm
      - investment services and activities
      - ancillary services
      - dealing on own account
      - client
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 17
      - target: Article 23
      - target: Article 34
      - target: Article 35
      - target: Article 89
      - target: Article 41
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "2022/2554"
    recitals: []

  - article_number: 16a
    article_title: Exemptions from product governance requirements
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 16a"
    applies_to_entities: []
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - investment firm
      - financial instrument
      - make-whole clause
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 16
        paragraph: "3"
      - target: Article 24
        paragraph: "2"
    external_references: []
    recitals: []

  - article_number: 17
    article_title: Algorithmic trading
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 17"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - operational_resilience
      - enforcement
      - trading_venues
      - market_abuse
    keywords:
      - SCA
      - transaction
      - POS
      - access
      - clearing
      - system
      - ITS
      - investment firm
      - ancillary services
      - dealing on own account
      - client
      - financial instrument
      - trading venue
      - competent authority
      - control
      - algorithmic trading
      - high-frequency algorithmic trading technique
      - direct electronic access
      - home member state
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 48
    external_references:
      - instrument_type: regulation
        reference: "2022/2554"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 18
    article_title: Trading process and finalisation of transactions in an MTF and an OTF
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 18"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - trading_venues
      - conflicts_of_interest
    keywords:
      - authorisation
      - transaction
      - transfer
      - security
      - access
      - consent
      - settlement
      - system
      - RTS
      - ITS
      - notification
      - investment firm
      - financial instrument
      - market operator
      - systematic internaliser
      - regulated market
      - mtf
      - otf
      - competent authority
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 16
      - target: Article 48
      - target: Article 49
      - target: Article 69
        paragraph: "2"
      - target: Article 20
        paragraph: "1"
      - target: Article 20
        paragraph: "4"
      - target: Article 20
        paragraph: "5"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 19
    article_title: Specific requirements for MTFs
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 19"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - API
      - authorisation
      - transaction
      - POS
      - access
      - system
      - ITS
      - investment firm
      - client
      - market operator
      - mtf
      - matched principal trading
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 16
      - target: Article 18
      - target: Article 18
        paragraph: "3"
      - target: Article 53
        paragraph: "3"
      - target: Article 24
      - target: Article 25
      - target: Article 27
        paragraph: "1"
      - target: Article 27
        paragraph: "2"
      - target: Article 27
        paragraph: "4"
      - target: Article 28
      - target: Article 27
    external_references: []
    recitals: []

  - article_number: 20
    article_title: Specific requirements for OTFs
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch01_conditions_and_procedures_for_authorisat.md
    path: "Title II > Chapter 1 > Article 20"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - trading_venues
      - derivatives_clearing
      - conflicts_of_interest
    keywords:
      - API
      - transaction
      - POS
      - consent
      - clearing
      - system
      - ITS
      - investment firm
      - dealing on own account
      - client
      - market operator
      - systematic internaliser
      - regulated market
      - mtf
      - otf
      - liquid market
      - competent authority
      - group
      - close links
      - matched principal trading
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 4
        paragraph: "1"
      - target: Article 27
      - target: Article 18
      - target: Article 24
      - target: Article 25
      - target: Article 28
    external_references:
      - instrument_type: regulation
        reference: "648/2012"
    recitals: []

  - article_number: 21
    article_title: Regular review of conditions for initial authorisation
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 21"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - guidelines
      - investment firm
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 22
    article_title: General obligation in respect of on-going supervision
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 22"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - supervision
      - reporting
      - investment firm
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 23
    article_title: Conflicts of interest
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 23"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - liability
      - conflicts_of_interest
    keywords:
      - agent
      - ITS
      - investment firm
      - ancillary services
      - client
      - tied agent
      - control
      - durable medium
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 16
        paragraph: "3"
      - target: Article 89
    external_references: []
    recitals: []

  - article_number: 24
    article_title: General principles and information to clients
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 24"
    applies_to_entities:
      - credit_institutions
      - member_states
      - european_banking_authority
      - european_commission
      - consumers
    topics:
      - financial_markets
      - investor_protection
      - information_requirements
      - market_risk
      - conflicts_of_interest
    keywords:
      - SCA
      - supervision
      - consumer
      - transaction
      - transfer
      - SEPA
      - POS
      - data
      - consent
      - third party
      - settlement
      - ITS
      - EBA
      - guidelines
      - notification
      - investment firm
      - ancillary services
      - investment advice
      - portfolio management
      - client
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 25
      - target: Article 16
        paragraph: "3"
      - target: Article 23
      - target: Article 34
      - target: Article 35
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 25
    article_title: Assessment of suitability and appropriateness and reporting to clients
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 25"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
      - consumers
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
      - securitisation
      - investment_funds
      - trading_venues
      - market_abuse
      - committee_procedure
    keywords:
      - authorisation
      - supervision
      - consumer
      - transaction
      - POS
      - security
      - consent
      - RTS
      - ITS
      - guidelines
      - reporting
      - investment firm
      - ancillary services
      - investment advice
      - portfolio management
      - switching of financial instruments
      - client
      - retail client
      - financial instrument
      - money-market instruments
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 24
      - target: Article 24
        paragraph: "11"
      - target: Article 89a
        paragraph: "2"
      - target: Article 23
      - target: Article 89
    external_references:
      - instrument_type: directive
        reference: "2009/65/EC"
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 26
    article_title: Provision of services through the medium of another investment firm
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 26"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - transaction
      - investment firm
      - ancillary services
      - client
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 27
    article_title: Obligation to execute orders on terms most favourable to the client
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 27"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - information_requirements
      - payment_systems
      - trading_venues
    keywords:
      - transaction
      - POS
      - consent
      - settlement
      - clearing
      - ITS
      - investment firm
      - client
      - professional client
      - retail client
      - financial instrument
      - trading venue
      - competent authority
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 28
    article_title: Client order handling rules
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 28"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - trading_venues
    keywords:
      - SCA
      - transaction
      - POS
      - access
      - ITS
      - investment firm
      - client
      - limit order
      - regulated market
      - trading venue
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 29
    article_title: Obligations of investment firms when appointing tied agents
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 29"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - supervision
      - POS
      - agent
      - ITS
      - investment firm
      - client
      - financial instrument
      - competent authority
      - credit institution
      - tied agent
      - control
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 16
        paragraph: "6"
      - target: Article 16
        paragraph: "8"
      - target: Article 16
        paragraph: "9"
    external_references: []
    recitals: []

  - article_number: 29a
    article_title: Services provided to professional clients
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 29a"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - investment firm
      - investment advice
      - portfolio management
      - client
      - professional client
      - electronic format
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 24
        paragraph: "4"
      - target: Article 25
        paragraph: "2"
      - target: Article 25
        paragraph: "6"
    external_references: []
    recitals: []

  - article_number: 30
    article_title: Transactions executed with eligible counterparties
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 30"
    applies_to_entities:
      - credit_institutions
      - member_states
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - investment_funds
    keywords:
      - transaction
      - POS
      - ATM
      - ITS
      - investment firm
      - client
      - credit institution
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 24
      - target: Article 25
      - target: Article 27
      - target: Article 28
        paragraph: "1"
      - target: Article 28
      - target: Article 89
    external_references:
      - instrument_type: directive
        reference: "2009/65/EC"
    recitals: []

  - article_number: 31
    article_title: Monitoring of compliance with the rules of the MTF or the OTF and with other legal obligations
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 31"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - information_requirements
      - enforcement
      - market_abuse
    keywords:
      - transaction
      - data
      - system
      - ITS
      - investment firm
      - financial instrument
      - market operator
      - mtf
      - otf
      - competent authority
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 32
    article_title: Suspension and removal of financial instruments from trading on an MTF or an OTF
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 32"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - liability
      - competent_authorities
      - market_abuse
    keywords:
      - system
      - ITS
      - notification
      - investment firm
      - financial instrument
      - market operator
      - systematic internaliser
      - regulated market
      - mtf
      - otf
      - competent authority
      - derivatives
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 69
        paragraph: "2"
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 33
    article_title: SME growth markets
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch02_operating_conditions_for_investment_firm.md
    path: "Title II > Chapter 2 > Article 33"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - prospectus
      - trading_venues
      - market_abuse
    keywords:
      - transaction
      - SEPA
      - POS
      - system
      - RTS
      - ITS
      - guidelines
      - reporting
      - investment firm
      - sme growth market
      - financial instrument
      - market operator
      - mtf
      - trading venue
      - competent authority
      - group
      - control
      - home member state
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
    external_references: []
    recitals: []

  - article_number: 34
    article_title: Freedom to provide investment services and activities
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch03_rights_of_investment_firms.md
    path: "Title II > Chapter 3 > Article 34"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - POS
      - access
      - agent
      - ITS
      - investment firm
      - investment services and activities
      - ancillary services
      - market operator
      - mtf
      - otf
      - competent authority
      - credit institution
      - tied agent
      - home member state
      - host member state
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 79
        paragraph: "1"
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 35
    article_title: Establishment of a branch
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch03_rights_of_investment_firms.md
    path: "Title II > Chapter 3 > Article 35"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - POS
      - agent
      - branch
      - scheme
      - ITS
      - reporting
      - investment firm
      - ancillary services
      - competent authority
      - credit institution
      - tied agent
      - home member state
      - host member state
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 79
        paragraph: "1"
      - target: Article 24
      - target: Article 25
      - target: Article 27
      - target: Article 28
      - target: Article 24
        paragraph: "12"
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 36
    article_title: Access to regulated markets
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch03_rights_of_investment_firms.md
    path: "Title II > Chapter 3 > Article 36"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - trading_venues
    keywords:
      - transaction
      - POS
      - access
      - branch
      - system
      - investment firm
      - client
      - regulated market
      - home member state
      - host member state
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 37
    article_title: "Access to CCP, clearing and settlement facilities and right to designate settlement system"
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch03_rights_of_investment_firms.md
    path: "Title II > Chapter 3 > Article 37"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
      - payment_systems
      - trading_venues
    keywords:
      - supervision
      - transaction
      - POS
      - access
      - settlement
      - clearing
      - system
      - investment firm
      - financial instrument
      - regulated market
      - trading venue
      - competent authority
      - control
      - ccp
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "648/2012"
    recitals: []

  - article_number: 38
    article_title: "Provisions regarding CCPs, clearing and settlement arrangements in respect of MTFs"
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch03_rights_of_investment_firms.md
    path: "Title II > Chapter 3 > Article 38"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
      - payment_systems
    keywords:
      - supervision
      - POS
      - settlement
      - clearing
      - system
      - investment firm
      - market operator
      - mtf
      - competent authority
      - control
      - ccp
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 37
        paragraph: "2"
    external_references: []
    recitals: []

  - article_number: 39
    article_title: Establishment of a branch
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch04_provision_of_investment_services_and_act.md
    path: "Title II > Chapter 4 > Article 39"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - aml
    keywords:
      - API
      - authorisation
      - supervision
      - POS
      - branch
      - scheme
      - ITS
      - ancillary services
      - client
      - professional client
      - retail client
      - competent authority
      - third-country firm
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 9
        paragraph: "1"
      - target: Article 26
    external_references: []
    recitals: []

  - article_number: 40
    article_title: Obligation to provide information
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch04_provision_of_investment_services_and_act.md
    path: "Title II > Chapter 4 > Article 40"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - outsourcing
      - governance
    keywords:
      - API
      - authorisation
      - supervision
      - POS
      - outsourcing
      - branch
      - ITS
      - ancillary services
      - competent authority
      - management body
      - third-country firm
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 9
        paragraph: "1"
    external_references: []
    recitals: []

  - article_number: 41
    article_title: Granting of the authorisation
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch04_provision_of_investment_services_and_act.md
    path: "Title II > Chapter 4 > Article 41"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_banking_authority
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - competent_authorities
    keywords:
      - SCA
      - authorisation
      - supervision
      - POS
      - branch
      - scheme
      - ITS
      - EBA
      - client
      - financial instrument
      - competent authority
      - group
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 39
      - target: Article 16
      - target: Article 17
      - target: Article 18
      - target: Article 19
      - target: Article 20
      - target: Article 28
        paragraph: "1"
      - target: Article 30
      - target: Article 31
      - target: Article 32
      - target: Article 39
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "575/2013"
      - instrument_type: regulation
        reference: "2019/2033"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: directive
        reference: "2019/2034"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 42
    article_title: Provision of services at the exclusive initiative of the client
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch04_provision_of_investment_services_and_act.md
    path: "Title II > Chapter 4 > Article 42"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - branch
      - ITS
      - client
      - professional client
      - retail client
      - group
      - close links
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 39
    external_references: []
    recitals: []

  - article_number: 43
    article_title: Withdrawal of authorisations
    chunk_file: /mifid-ii/chunks/mifid-ii_t02_ch04_provision_of_investment_services_and_act.md
    path: "Title II > Chapter 4 > Article 43"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - system
      - investment firm
      - competent authority
      - third-country firm
    contains:
      obligations: false
      prohibitions: false
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 41
    external_references: []
    recitals: []

  - article_number: 44
    article_title: Authorisation and applicable law
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 44"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - authorisation
    keywords:
      - authorisation
      - supervision
      - POS
      - system
      - ITS
      - market operator
      - regulated market
      - competent authority
      - home member state
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 45
    article_title: Requirements for the management body of a market operator
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 45"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - authorisation
      - competent_authorities
      - governance
      - conflicts_of_interest
    keywords:
      - SCA
      - authorisation
      - POS
      - access
      - ITS
      - guidelines
      - market operator
      - regulated market
      - competent authority
      - qualifying holding
      - group
      - management body
      - senior management
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 46
    article_title: Requirements relating to persons exercising significant influence over the management of the regulated market
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 46"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - competent_authorities
    keywords:
      - SCA
      - transfer
      - POS
      - market operator
      - regulated market
      - competent authority
      - control
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 47
    article_title: Organisational requirements
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 47"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - authorisation
      - operational_resilience
      - conflicts_of_interest
    keywords:
      - API
      - authorisation
      - transaction
      - POS
      - data
      - system
      - ITS
      - client
      - market operator
      - regulated market
      - competent authority
      - matched principal trading
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "2022/2554"
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 48
    article_title: "Systems resilience, circuit breakers and electronic trading"
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 48"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - authorisation
      - operational_resilience
      - competent_authorities
      - market_abuse
    keywords:
      - SCA
      - transaction
      - SEPA
      - POS
      - data
      - access
      - system
      - scheme
      - RTS
      - ITS
      - EBA
      - investment firm
      - client
      - financial instrument
      - regulated market
      - trading venue
      - competent authority
      - credit institution
      - control
      - algorithmic trading
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: true
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 69
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "2022/2554"
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 49
    article_title: Tick sizes
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 49"
    applies_to_entities:
      - member_states
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - depositary
    keywords:
      - SCA
      - POS
      - financial instrument
      - regulated market
      - depositary receipts
      - exchange-traded fund
      - certificates
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 51
    article_title: Admission of financial instruments to trading
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 51"
    applies_to_entities:
      - member_states
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
    keywords:
      - transfer
      - security
      - access
      - consent
      - settlement
      - ITS
      - financial instrument
      - regulated market
      - transferable securities
      - derivatives
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 51a
    article_title: Specific conditions for the admission of shares to trading
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 51a"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
    keywords:
      - API
      - ITS
      - regulated market
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
    external_references: []
    recitals: []

  - article_number: 52
    article_title: Suspension and removal of financial instruments from trading on a regulated market
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 52"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - liability
      - competent_authorities
      - market_abuse
    keywords:
      - system
      - ITS
      - notification
      - financial instrument
      - market operator
      - systematic internaliser
      - regulated market
      - mtf
      - otf
      - competent authority
      - derivatives
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 69
        paragraph: "2"
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 53
    article_title: Access to a regulated market
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 53"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - authorisation
      - payment_systems
    keywords:
      - transaction
      - POS
      - access
      - settlement
      - clearing
      - ITS
      - investment firm
      - client
      - market operator
      - regulated market
      - competent authority
      - credit institution
      - home member state
      - host member state
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 24
      - target: Article 25
      - target: Article 27
      - target: Article 28
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 54
    article_title: Monitoring of compliance with the rules of the regulated market and with other legal obligations
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 54"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - competent_authorities
      - information_requirements
      - enforcement
      - market_abuse
    keywords:
      - transaction
      - system
      - financial instrument
      - market operator
      - regulated market
      - competent authority
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 89
    external_references: []
    recitals: []

  - article_number: 55
    article_title: Provisions regarding CCP and clearing and settlement arrangements
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 55"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - competent_authorities
      - payment_systems
    keywords:
      - supervision
      - POS
      - settlement
      - clearing
      - system
      - regulated market
      - competent authority
      - control
      - ccp
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 37
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "648/2012"
    recitals: []

  - article_number: 56
    article_title: List of regulated markets
    chunk_file: /mifid-ii/chunks/mifid-ii_t03_regulated_markets.md
    path: "Title III > Article 56"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
    keywords:
      - RTS
      - ITS
      - regulated market
      - home member state
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 65
        paragraph: "6"
      - target: Article 65
        paragraph: "1"
      - target: Article 65
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 57
    article_title: Position limits in commodity derivatives and position management controls in commodity derivatives and derivatives of emission allowances
    chunk_file: /mifid-ii/chunks/mifid-ii_t04_position_limits_and_position_management_.md
    path: "Title IV > Article 57"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
      - enforcement
      - trading_venues
      - market_abuse
    keywords:
      - sanction
      - transaction
      - POS
      - data
      - settlement
      - ITS
      - reporting
      - notification
      - investment firm
      - financial instrument
      - market operator
      - trading venue
      - competent authority
      - group
      - control
      - derivatives
      - commodity derivatives
      - agricultural commodity derivatives
      - predominantly commercial group
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 2
        paragraph: "4"
      - target: Article 4
        paragraph: "1"
      - target: Article 69
        paragraph: "2"
      - target: Article 58
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 58
    article_title: Position reporting by categories of position holders
    chunk_file: /mifid-ii/chunks/mifid-ii_t04_position_limits_and_position_management_.md
    path: "Title IV > Article 58"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - insurance
      - reinsurance
      - pensions
      - investment_funds
      - trading_venues
    keywords:
      - authorisation
      - transfer
      - POS
      - RTS
      - ITS
      - reporting
      - investment firm
      - client
      - market operator
      - regulated market
      - mtf
      - otf
      - trading venue
      - competent authority
      - credit institution
      - transferable securities
      - derivatives
      - commodity derivatives
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 4
        paragraph: "1"
      - target: Article 57
        paragraph: "6"
      - target: Article 57
        paragraph: "1"
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: directive
        reference: "2009/65/EC"
      - instrument_type: directive
        reference: "2009/65/EC"
      - instrument_type: directive
        reference: "2011/61"
      - instrument_type: directive
        reference: "2009/138/EC"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 67
    article_title: Designation of competent authorities
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 67"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - conflicts_of_interest
      - implementing_acts
    keywords:
      - POS
      - ITS
      - competent authority
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 29
        paragraph: "4"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 68
    article_title: Cooperation between authorities in the same Member State
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 68"
    applies_to_entities:
      - member_states
      - competent_authorities
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - insurance
      - reinsurance
      - investment_funds
    keywords:
      - supervision
      - POS
      - ITS
      - competent authority
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: directive
        reference: "2009/65/EC"
    recitals: []

  - article_number: 69
    article_title: Supervisory powers
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 69"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - liability
      - competent_authorities
      - enforcement
      - trading_venues
    keywords:
      - POS
      - data
      - access
      - RTS
      - ITS
      - reporting
      - investment firm
      - financial instrument
      - market operator
      - regulated market
      - competent authority
      - credit institution
      - structured deposit
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 57
      - target: Article 16
        paragraph: "3"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 70
    article_title: Sanctions for infringements
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 70"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - enforcement
      - sanctions
      - trading_venues
      - governance
      - consolidation
    keywords:
      - authorisation
      - sanction
      - POS
      - data
      - branch
      - reporting
      - investment firm
      - ancillary services
      - client
      - market operator
      - regulated market
      - mtf
      - otf
      - credit institution
      - parent undertaking
      - subsidiary
      - management body
      - third-country firm
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 69
      - target: Article 8
      - target: Article 9
        paragraph: "1"
      - target: Article 11
        paragraph: "1"
      - target: Article 11
        paragraph: "3"
      - target: Article 16
        paragraph: "1"
      - target: Article 17
        paragraph: "1"
      - target: Article 18
        paragraph: "1"
      - target: Article 18
        paragraph: "10"
      - target: Article 19
      - target: Article 20
      - target: Article 21
        paragraph: "1"
      - target: Article 23
        paragraph: "1"
      - target: Article 23
        paragraph: "2"
      - target: Article 23
        paragraph: "3"
      - target: Article 24
        paragraph: "1"
      - target: Article 24
        paragraph: "11"
      - target: Article 25
        paragraph: "1"
      - target: Article 26
        paragraph: "1"
      - target: Article 26
        paragraph: "2"
      - target: Article 26
        paragraph: "3"
      - target: Article 27
        paragraph: "1"
      - target: Article 28
        paragraph: "1"
      - target: Article 28
        paragraph: "2"
      - target: Article 29
        paragraph: "2"
      - target: Article 29
        paragraph: "3"
      - target: Article 29
        paragraph: "4"
      - target: Article 29
        paragraph: "5"
      - target: Article 30
        paragraph: "1"
      - target: Article 30
        paragraph: "3"
      - target: Article 31
        paragraph: "1"
      - target: Article 31
        paragraph: "2"
      - target: Article 31
        paragraph: "3"
      - target: Article 32
        paragraph: "1"
      - target: Article 32
        paragraph: "2"
      - target: Article 33
        paragraph: "3"
      - target: Article 34
        paragraph: "2"
      - target: Article 34
        paragraph: "4"
      - target: Article 34
        paragraph: "5"
      - target: Article 34
        paragraph: "7"
      - target: Article 35
        paragraph: "2"
      - target: Article 35
        paragraph: "7"
      - target: Article 35
        paragraph: "10"
      - target: Article 36
        paragraph: "1"
      - target: Article 37
        paragraph: "1"
      - target: Article 37
        paragraph: "2"
      - target: Article 44
        paragraph: "1"
      - target: Article 44
        paragraph: "2"
      - target: Article 44
        paragraph: "3"
      - target: Article 44
        paragraph: "5"
      - target: Article 45
        paragraph: "1"
      - target: Article 46
        paragraph: "1"
      - target: Article 46
        paragraph: "2"
      - target: Article 47
      - target: Article 48
        paragraph: "1"
      - target: Article 49
        paragraph: "1"
      - target: Article 51
        paragraph: "1"
      - target: Article 51
        paragraph: "5"
      - target: Article 52
        paragraph: "1"
      - target: Article 52
        paragraph: "2"
      - target: Article 53
        paragraph: "1"
      - target: Article 53
        paragraph: "2"
      - target: Article 53
        paragraph: "3"
      - target: Article 53
        paragraph: "6"
      - target: Article 53
        paragraph: "7"
      - target: Article 54
        paragraph: "1"
      - target: Article 54
        paragraph: "2"
      - target: Article 54
        paragraph: "3"
      - target: Article 57
        paragraph: "1"
      - target: Article 57
        paragraph: "2"
      - target: Article 57
        paragraph: "8"
      - target: Article 57
        paragraph: "10"
      - target: Article 58
        paragraph: "1"
      - target: Article 5
      - target: Article 6
        paragraph: "2"
      - target: Article 34
      - target: Article 71
      - target: Article 43
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: directive
        reference: "2013/34/EU"
    recitals: []

  - article_number: 71
    article_title: Publication of decisions
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 71"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - data_protection
      - competent_authorities
      - enforcement
      - sanctions
    keywords:
      - sanction
      - POS
      - data
      - access
      - branch
      - ITS
      - investment firm
      - investment services and activities
      - ancillary services
      - market operator
      - competent authority
      - credit institution
      - third-country firm
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 70
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 72
    article_title: Exercise of supervisory powers and powers to impose sanctions
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 72"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
      - enforcement
      - sanctions
    keywords:
      - sanction
      - POS
      - ITS
      - competent authority
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 69
      - target: Article 70
      - target: Article 67
        paragraph: "2"
    external_references: []
    recitals: []

  - article_number: 73
    article_title: Reporting of infringements
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 73"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - enforcement
    keywords:
      - ATM
      - branch
      - RTS
      - reporting
      - investment firm
      - ancillary services
      - market operator
      - credit institution
      - third-country firm
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 74
    article_title: Right of appeal
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 74"
    applies_to_entities:
      - member_states
      - consumers
    topics:
      - financial_markets
      - investor_protection
      - authorisation
    keywords:
      - authorisation
      - consumer
      - RTS
      - ITS
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 75
    article_title: Extra-judicial mechanism for consumers complaints
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 75"
    applies_to_entities:
      - member_states
      - competent_authorities
      - consumers
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
    keywords:
      - consumer
      - cross-border
      - settlement
      - RTS
      - ITS
      - investment firm
      - ancillary services
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 76
    article_title: Professional secrecy
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 76"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - insurance
      - reinsurance
      - investment_funds
      - trading_venues
    keywords:
      - POS
      - consent
      - RTS
      - ITS
      - investment firm
      - market operator
      - regulated market
      - competent authority
      - credit institution
      - ccp
      - csd
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 67
        paragraph: "2"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: directive
        reference: "2009/65/EC"
    recitals: []

  - article_number: 77
    article_title: Relations with auditors
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 77"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - liability
      - enforcement
      - trading_venues
    keywords:
      - liability
      - authorisation
      - investment firm
      - regulated market
      - close links
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: directive
        reference: "2006/43/EC"
      - instrument_type: directive
        reference: "2013/34/EU"
      - instrument_type: directive
        reference: "2009/65/EC"
    recitals: []

  - article_number: 78
    article_title: Data protection
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch01_designation_powers_and_redress_procedure.md
    path: "Title VI > Chapter 1 > Article 78"
    applies_to_entities: []
    topics:
      - financial_markets
      - investor_protection
      - data_protection
    keywords:
      - data
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: directive
        reference: "95/46/EC"
    recitals: []

  - article_number: 79
    article_title: Obligation to cooperate
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 79"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
      - enforcement
      - trading_venues
    keywords:
      - supervision
      - sanction
      - POS
      - ITS
      - notification
      - financial instrument
      - trading venue
      - competent authority
      - derivatives
      - commodity derivatives
      - host member state
      - wholesale energy product
      - agricultural commodity derivatives
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: true
      penalties: true
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 70
      - target: Article 69
        paragraph: "2"
      - target: Article 57
      - target: Article 89
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 80
    article_title: "Cooperation between competent authorities in supervisory activities, for on-site verifications or investigations"
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 80"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
    keywords:
      - RTS
      - ITS
      - investment firm
      - regulated market
      - competent authority
      - home member state
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: true
      its_mandate: true
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 81
    article_title: Exchange of information
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 81"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - sanction
      - POS
      - settlement
      - system
      - investment firm
      - trading venue
      - competent authority
      - control
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: true
      penalties: true
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 79
        paragraph: "1"
      - target: Article 67
        paragraph: "1"
      - target: Article 77
      - target: Article 88
      - target: Article 71
      - target: Article 74
      - target: Article 75
      - target: Article 76
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 82
    article_title: Binding mediation
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 82"
    applies_to_entities:
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - POS
    contains:
      obligations: false
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 80
      - target: Article 81
      - target: Article 83
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 83
    article_title: Refusal to cooperate
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 83"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
    keywords:
      - POS
      - competent authority
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 84
      - target: Article 81
    external_references: []
    recitals: []

  - article_number: 84
    article_title: Consultation prior to authorisation
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 84"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - authorisation
      - insurance
    keywords:
      - authorisation
      - supervision
      - investment firm
      - market operator
      - competent authority
      - credit institution
      - parent undertaking
      - subsidiary
      - group
      - control
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 85
    article_title: Powers for host Member States
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 85"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
    keywords:
      - POS
      - branch
      - investment firm
      - competent authority
      - host member state
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 35
        paragraph: "8"
    external_references: []
    recitals: []

  - article_number: 86
    article_title: Precautionary measures to be taken by host Member States
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 86"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - trading_venues
      - passporting
    keywords:
      - sanction
      - transaction
      - POS
      - branch
      - ITS
      - investment firm
      - regulated market
      - mtf
      - otf
      - competent authority
      - home member state
      - host member state
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: true
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 87
    article_title: Cooperation and exchange of information with ESMA
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 87"
    applies_to_entities:
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - competent_authorities
    keywords:
      - POS
      - ITS
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: true
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 87a
    article_title: Accessibility of information on the European single access point
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch02_cooperation_between_the_competent_author.md
    path: "Title VI > Chapter 2 > Article 87a"
    applies_to_entities:
      - member_states
      - competent_authorities
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - data_protection
    keywords:
      - POS
      - data
      - access
      - agent
      - guidelines
      - investment firm
      - market operator
      - competent authority
      - tied agent
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: true
      transitional: false
    internal_references:
      - target: Article 27
        paragraph: "3"
      - target: Article 27
        paragraph: "6"
      - target: Article 33
        paragraph: "3"
      - target: Article 46
        paragraph: "2"
      - target: Article 32
        paragraph: "2"
      - target: Article 52
      - target: Article 71
      - target: Article 5
        paragraph: "3"
      - target: Article 18
        paragraph: "10"
      - target: Article 58
        paragraph: "1"
      - target: Article 29
        paragraph: "3"
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
    recitals: []

  - article_number: 88
    article_title: Exchange of information with third countries
    chunk_file: /mifid-ii/chunks/mifid-ii_t06_ch03_cooperation_with_third_countries.md
    path: "Title VI > Chapter 3 > Article 88"
    applies_to_entities:
      - credit_institutions
      - member_states
      - competent_authorities
      - financial_entities
    topics:
      - financial_markets
      - investor_protection
      - data_protection
      - insurance
    keywords:
      - supervision
      - transfer
      - POS
      - data
      - scheme
      - ITS
      - investment firm
      - credit institution
      - derivatives
      - commodity derivatives
      - agricultural commodity derivatives
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 76
    external_references:
      - instrument_type: regulation
        reference: "1095/2010"
      - instrument_type: directive
        reference: "95/46/EC"
    recitals: []

  - article_number: 89
    article_title: Exercise of the delegation
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 89"
    applies_to_entities:
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
    keywords:
      - notification
    contains:
      obligations: true
      prohibitions: true
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 2
        paragraph: "3"
      - target: Article 2
        paragraph: "4"
      - target: Article 4
        paragraph: "1"
      - target: Article 4
        paragraph: "2"
      - target: Article 13
        paragraph: "1"
      - target: Article 16
        paragraph: "12"
      - target: Article 23
        paragraph: "4"
      - target: Article 24
        paragraph: "13"
      - target: Article 25
        paragraph: "8"
      - target: Article 27
        paragraph: "9"
      - target: Article 28
        paragraph: "3"
      - target: Article 30
        paragraph: "5"
      - target: Article 31
        paragraph: "4"
      - target: Article 32
        paragraph: "4"
      - target: Article 33
        paragraph: "8"
      - target: Article 51a
        paragraph: "7"
      - target: Article 52
        paragraph: "4"
      - target: Article 54
        paragraph: "4"
      - target: Article 58
        paragraph: "6"
      - target: Article 64
        paragraph: "7"
      - target: Article 65
        paragraph: "7"
      - target: Article 79
        paragraph: "8"
    external_references: []
    recitals: []

  - article_number: 89a
    article_title: Committee procedure
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 89a"
    applies_to_entities: []
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
      - committee_procedure
    keywords: []
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 90
    article_title: Reports and review
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 90"
    applies_to_entities:
      - competent_authorities
      - european_banking_authority
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
      - authorisation
      - enforcement
      - sanctions
      - market_abuse
      - derivatives_clearing
    keywords:
      - API
      - sanction
      - transaction
      - POS
      - data
      - access
      - cross-border
      - settlement
      - clearing
      - system
      - RTS
      - ITS
      - EBA
      - investment firm
      - investment advice
      - client
      - sme growth market
      - financial instrument
      - c6 energy derivative contracts
      - regulated market
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: true
      delegated_powers: true
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 33
        paragraph: "3"
      - target: Article 24
        paragraph: "9"
      - target: Article 2
        paragraph: "1"
      - target: Article 89
      - target: Article 95
        paragraph: "1"
      - target: Article 57
        paragraph: "5"
      - target: Article 57
        paragraph: "10"
      - target: Article 2
        paragraph: "4"
      - target: Article 33
        paragraph: "7"
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
      - instrument_type: regulation
        reference: "648/2012"
      - instrument_type: regulation
        reference: "2019/2033"
    recitals: []

  - article_number: 92
    article_title: Amendments to Directive 2011/61/EU
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 92"
    applies_to_entities:
      - member_states
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
      - authorisation
      - investment_funds
    keywords:
      - branch
      - ITS
      - home member state
    contains:
      obligations: true
      prohibitions: false
      permissions: true
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 4
        paragraph: "1"
      - target: Article 6
        paragraph: "4"
      - target: Article 33
    external_references:
      - instrument_type: directive
        reference: "2011/61/EU"
    recitals: []

  - article_number: 93
    article_title: Transposition
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 93"
    applies_to_entities:
      - member_states
      - european_commission
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
    keywords:
      - POS
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references:
      - target: Article 92
      - target: Article 4
        paragraph: "1"
    external_references: []
    recitals: []

  - article_number: 94
    article_title: Repeal
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 94"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
    keywords:
      - POS
      - ITS
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "600/2014"
    recitals: []

  - article_number: 95
    article_title: Transitional provisions
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 95"
    applies_to_entities:
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
      - authorisation
      - competent_authorities
      - derivatives_clearing
    keywords:
      - POS
      - clearing
      - ITS
      - investment firm
      - c6 energy derivative contracts
      - competent authority
    contains:
      obligations: true
      prohibitions: true
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: true
    internal_references: []
    external_references:
      - instrument_type: regulation
        reference: "648/2012"
      - instrument_type: regulation
        reference: "648/2012"
      - instrument_type: regulation
        reference: "648/2012"
    recitals: []

  - article_number: 95a
    article_title: Transitional provision on the authorisation of credit institution referred to in point (1)(b) of Article 4(1) of Regulation (EU) No 575/2013
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 95a"
    applies_to_entities:
      - credit_institutions
      - competent_authorities
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
      - authorisation
      - competent_authorities
    keywords:
      - authorisation
      - competent authority
      - credit institution
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: true
    internal_references:
      - target: Article 4
        paragraph: "1"
    external_references:
      - instrument_type: directive
        reference: "2013/36/EU"
    recitals: []

  - article_number: 96
    article_title: Entry into force
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 96"
    applies_to_entities: []
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
    keywords:
      - ITS
    contains:
      obligations: true
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: true
    internal_references: []
    external_references: []
    recitals: []

  - article_number: 97
    article_title: Addressees
    chunk_file: /mifid-ii/chunks/mifid-ii_t07_delegated_acts.md
    path: "Title VII > Article 97"
    applies_to_entities:
      - member_states
    topics:
      - financial_markets
      - investor_protection
      - delegated_acts
    keywords: []
    contains:
      obligations: false
      prohibitions: false
      permissions: false
      definitions: false
      penalties: false
      delegated_powers: false
      implementing_powers: false
      rts_mandate: false
      its_mandate: false
      transitional: false
    internal_references: []
    external_references: []
    recitals: []