Legal provisions of COM(2016)56 - Amendment of Directive 2014/65/EU on markets in financial instruments as regards certain dates - Main contents
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dossier | COM(2016)56 - Amendment of Directive 2014/65/EU on markets in financial instruments as regards certain dates. |
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document | COM(2016)56 ![]() |
date | June 23, 2016 |
Article 1
(1) | in Article 2(1), point (d)(ii) is replaced by the following:
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(2) | in point (a) of Article 25(4), the second subparagraph is replaced by the following: ‘For the purpose of this point, a third-country market shall be considered to be equivalent to a regulated market if the requirements and the procedure laid down under the third and the fourth subparagraphs are fulfilled. At the request of the competent authority of a Member State, the Commission shall adopt equivalence decisions in accordance with the examination procedure referred to in Article 89a(2), stating whether the legal and supervisory framework of a third country ensures that a regulated market authorised in that third country complies with legally binding requirements which are, for the purpose of the application of this point, equivalent to the requirements resulting from Regulation (EU) No 596/2014, from Title III of this Directive, from Title II of Regulation (EU) No 600/2014 and from Directive 2004/109/EC, and which are subject to effective supervision and enforcement in that third country. The competent authority shall indicate why it considers that the legal and supervisory framework of the third country concerned is to be considered equivalent and shall provide relevant information to that end. Such third-country legal and supervisory framework may be considered equivalent where that framework fulfils at least the following conditions:
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(3) | in the second subparagraph of Article 69(2), the date ‘3 July 2016’ is replaced by ‘3 July 2017’; |
(4) | in the third subparagraph of Article 70(1), the date ‘3 July 2016’ is replaced by ‘3 July 2017’; |
(5) | the following article is inserted: ‘Article 89a Committee procedure 1. The Commission shall be assisted by the European Securities Committee established by Commission Decision 2001/528/EC (*). That committee shall be a committee within the meaning of Regulation (EU) No 182/2011 of the European Parliament and of the Council (**). 2. Where reference is made to this paragraph, Article 5 of Regulation (EU) No 182/2011 shall apply. (*) Commission Decision 2001/528/EC of 6 June 2001 establishing the European Securities Committee (OJ L 191, 13.7.2001, p. 45)." (**) Regulation (EU) No 182/2011 of the European Parliament and of the Council of 16 February 2011 laying down the rules and general principles concerning mechanisms for control by Member States of the Commission's exercise of implementing powers (OJ L 55, 28.2.2011, p. 13).’;" |
(6) | Article 90 is amended as follows:
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(7) | in Article 93(1), the date ‘3 July 2016’ is replaced by ‘3 July 2017’, the date ‘3 January 2017’ is replaced by ‘3 January 2018’ and the date ‘3 September 2018’ is replaced by ‘3 September 2019’; |
(8) | in Article 94, the date ‘3 January 2017’ is replaced by ‘3 January 2018’; |
(9) | in Article 95(1), the date ‘3 July 2020’ is replaced by ‘3 January 2021’ and the date ‘3 January 2017’ is replaced by ‘3 January 2018’. |