Requirement (MIFID)
Article 40 Re-examinations
Requirements MIFID - REGULATION (EC) No 1287/2006
Description
Description
1. At least once every two years, and after consulting the
Committee of European Securities Regulators, the Commission
shall re-examine the definition of ‘transaction’ for the purposes
of this Regulation, the Tables included in Annex II, as well as the
criteria for determination of liquid shares contained in Article 22.
2. The Commission shall, after consulting the Committee of
European Securities Regulators, re-examine the provisions of
Articles 38 and 39 relating to criteria for determining which
instruments are to be treated as having the characteristics of
other derivative financial instruments, or as being for commercial
purposes, or which fall within Section C(10) of Annex I to
Directive 2004/39/EC if the other criteria set out in that Section
are satisfied in relation to them.
The Commission shall report to the European Parliament and to
the Council at the same time that it makes its reports under
Article 65(3)(a) and (d) of Directive 2004/39/EC.
3. The Commission shall, no later than two years after the date
of application of this Regulation, after consulting the Committee
of European Securities Regulators, re-examine Table 4 of
Annex II and report on the results of this re-examination to
the European Parliament and the Council.