Requirement (MIFID)
Article 31 Freedom to provide investment services and activities
Requirements MIFID - DIRECTIVE 2004/39/EC
Description
Description
1. Member States shall ensure that any investment firm authorised
and supervised by the competent authorities of another Member State in
accordance with this Directive, and in respect of credit institutions in
accordance with Directive 2000/12/EC, may freely perform investment
services and/or activities as well as ancillary services within their territories,
provided that such services and activities are covered by its
authorisation. Ancillary services may only be provided together with an
investment service and/or activity.
Member States shall not impose any additional requirements on such an
investment firm or credit institution in respect of the matters covered by
this Directive.
2. Any investment firm wishing to provide services or activities
within the territory of another Member State for the first time, or which
wishes to change the range of services or activities so provided, shall
communicate the following information to the competent authorities of
its home Member State:
(a) the Member State in which it intends to operate;
(b) a programme of operations stating in particular the investment
services and/or activities as well as ancillary services which it
intends to perform and whether it intends to use tied agents in the
territory of the Member States in which it intends to provide
services.
In cases where the investment firm intends to use tied agents, the
competent authority of the home Member State of the investment firm
shall, at the request of the competent authority of the host Member State
and within a reasonable time, communicate the identity of the tied
agents that the investment firm intends to use in that Member State. The
host Member State may make public such information.
3. The competent authority of the home Member State shall, within
one month of receiving the information, forward it to the competent
authority of the host Member State designated as contact point in accordance
with Article 56(1). The investment firm may then start to provide
the investment service or services concerned in the host Member State...