Requirement (MIFID)
Article 52 Right of appeal
Requirements MIFID - DIRECTIVE 2004/39/EC
Description
Description
1. Member States shall ensure that any decision taken under laws,
regulations or administrative provisions adopted in accordance with this
Directive is properly reasoned and is subject to the right to apply to the
courts. The right to apply to the courts shall also apply where, in respect
of an application for authorisation which provides all the information
required, no decision is taken within six months of its submission.
2. Member States shall provide that one or more of the following
bodies, as determined by national law, may, in the interests of consumers
and in accordance with national law, take action before the courts or
competent administrative bodies to ensure that the national provisions
for the implementation of this Directive are applied:
(a) public bodies or their representatives;
(b) consumer organisations having a legitimate interest in protecting
consumers;
(c) professional organisations having a legitimate interest in acting to
protect their members.