Requirement (MIFID)
Article 12 Initial capital endowment
Requirements MIFID - DIRECTIVE 2004/39/EC
Description
Description
Member States shall ensure that the competent authorities do not grant
authorisation unless the investment firm has sufficient initial capital in
accordance with the requirements of Directive 93/6/EEC having regard
to the nature of the investment service or activity in question.
Pending the revision of Directive 93/6/EEC, the investment firms
provided for in Article 67 shall be subject to the capital requirements
laid down in that Article.