EU Financial Regulatory Q&A Database

Direct Electronic Access (DEA) and algorithmic trading - Trading venues

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Third country issues

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Investor protection and marketing communication

Regulation 2020/1503 - European crowdfunding service providers for business

Position reporting

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Investor protection and marketing communication

Regulation 2020/1503 - European crowdfunding service providers for business

Ancillary activity excemption

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Calculation of denominator

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position limits - the definition of "a lot"

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Position limits for options and futures

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Various underlyings listed in Annex I, Section C(10) of MIFID II?

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

General provisions

Regulation 2020/1503 - European crowdfunding service providers for business

Securitised derivatives

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets · Art. Art 57(1) and 58(1) of MiFID II

Hedge exemption

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Financial guidance and disclosure of inside information

Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Market analysts’ expectations and the identification of inside information

Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity

Solvency Capital Requirement (SCR)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 180

Solvency Capital Requirement (SCR)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 192

Solvency Capital Requirement (SCR)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 189

Reporting Templates

(EU) 2020/852 - Taxonomy Regulation · Art. N/A

Solvency Capital Requirement (SCR)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 191

Third country issues - Transparency

Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets

Solvency Capital Requirement (SCR)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 83.1, 23, 142

Validations

(EU) No 2015/2450 - templates for the submission of information to the supervisory authorities · Art. N/A

Solvency Capital Requirement (SCR)

(EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) · Art. N/A

Bilateral cancellation facility

Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR

Solvency Capital Requirement (SCR)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. N/A

Reporting by IORPs

(EU) 2016/2341 - IORP II Directive · Art. 32

Solvency Capital Requirement (SCR)

Guidelines on valuation of technical provisions · Art. 28A

Own Funds (OF)

(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 73

Guarantee for the purpose of the waiver from internal MREL requirements

Directive 2014/59/EU (BRRD) · Art. 45f

Characteristics of the guarantee for the purposes of iMREL waiver

Directive 2014/59/EU (BRRD) · Art. 45f

Depositaries

Alternative Investment Fund Managers Directive (AIFMD) Directive 2011/61/EU

Depositaries

Alternative Investment Fund Managers Directive (AIFMD) Directive 2011/61/EU

Delegation

Alternative Investment Fund Managers Directive (AIFMD) Directive 2011/61/EU

Direct Electronic Access (DEA) and algorithmic trading - Trading functionalities with automated management of orders

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Direct Electronic Access (DEA) and algorithmic trading - Article 17 of MiFID II and RTS 6 - Third party systems with algorithmic trading functionalities

Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets

Applicability of the SME supporting factor for financing private purposes

Regulation (EU) No 575/2013 (CRR) · Art. 501

The size of all non-trading book positions that are subject to foreign exchange risk

Regulation (EU) No 575/2013 (CRR) · Art. 325a

Implementation of Article 72b(2)(j) of Regulation (EU) No 575/2013 (“CRR”) and whether the contractual provisions governing liabilities are required to refer to the permission regime in order for the liabilities to qualify as eligible liabilities instruments

Regulation (EU) No 575/2013 (CRR) · Art. Article 72b

Inclusion of undertakings other than institutions, financial institutions or ancillary undertakings in prudential consolidation

Regulation (EU) No 575/2013 (CRR) · Art. 18

Cut-off date for the implementation of the adjustment for massive disposals

Regulation (EU) No 575/2013 (CRR) · Art. 500

Scope of ASA definition under IFR

Regulation (EU) No 2019/2033 (IFR) · Art. 4

Early repayment upon a common agreement between the issuer and the subscriber

Regulation (EU) No 575/2013 (CRR) · Art. 63

Definition of the parameter ρ_kl (option maturity)

Regulation (EU) No 575/2013 (CRR) · Art. 325ay

Conditions for the usage of the net present value when calculating open positions in each currency and in gold

Regulation (EU) No 575/2013 (CRR) · Art. 352

Treatment of non-performing exposures underlying a CIU

Regulation (EU) No 575/2013 (CRR) · Art. 132a

Leverage Exposure Exclusion for guaranteed parts of Export Credit

Regulation (EU) No 575/2013 (CRR) · Art. 429a

Weighted Average Life calculation for Credit Card Receivables without fixed repayment scheme

Regulation (EU) No 2017/2402 (SecReg) · Art. 24

Formula to be applied in case of a switch from multiple netting sets to a single netting set

Regulation (EU) No 575/2013 (CRR) · Art. 275