Requirement (MIFID)
Article 14 Exchange of information on transactions
Requirements MIFID - REGULATION (EC) No 1287/2006
Description
Description
1. The competent authorities shall establish arrangements
designed to ensure that the information received in accordance
with Article 25(3) and (5) of Directive 2004/39/EC is made
available to the following:
(a) the relevant competent authority for the financial instrument
in question;
(b) in the case of branches, the competent authority that has
authorised the investment firm providing the information,
without prejudice to its right not to receive this information
in accordance with Article 25(6) of Directive 2004/39/EC;
(c) any other competent authority that requests the information
for the proper discharge of its supervisory duties under
Article 25(1) of Directive 2004/39/EC.
2. The information to be made available in accordance with
paragraph 1 shall contain the information items described in
Tables 1 and 2 of Annex I.
3. The information referred to in paragraph 1 shall be made
available as soon as possible.
With effect from 1 November 2008 that information shall be
made available no later than the close of the next working day of
the competent authority that received the information or the
request following the day on which the competent authority has
received the information or the request.
4. The competent authorities shall coordinate the following:
(a) the design and establishment of arrangements for the
exchange of transaction information between the competent
authorities as required by Directive 2004/39/EC and
this Regulation;
(b) any future upgrading of the arrangements.
5. Before 1 February 2007, the competent authorities shall
report to the Commission, which shall inform the European
Securities Committee, on the design of the arrangements to be
established in accordance with paragraph 1.
They shall also report to the Commission, which shall inform the
European Securities Committee, whenever significant changes to
those arrangements are proposed.
Comment
Applies to Article 25(3) and (5) of Directive 2004/39/EC