EU · MiFID II · TITLE II AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS · CHAPTER I Conditions and procedures for authorisation
Article 15 MiFID IIInitial capital endowment
Investment firms may be authorised only if they hold sufficient initial capital under Article 9 of the Investment Firms Directive (EU) 2019/2034, according to the services or activities they provide.
Amendments and application dates
| Amending act | Change | Applies from |
|---|---|---|
| Directive (EU) 2019/2034 | Text amended; Provision replaced | by 26 Jun 2021 |
Level 3: ESMA Q&As, guidelines and opinions
- Q&ALegacy Q&A documentESMA rulebook
AI summaryESMA's consolidated legacy Q&A document (ESMA70-872942901-38, final version 13 October 2023) on market structure topics, covering data disaggregation, direct electronic access and algorithmic trading, the tick size regime, multilateral and bilateral systems (including OTFs and systematic internalisers) and access to CCPs and trading venues. It is no longer updated; later Q&As are in ESMA's Q&A tool.
Commentary
No law-firm commentary is linked to this provision yet.
393 more documents relate to MiFID II as a whole without naming an article.
UK counterpart
UK transposition not traced in the FCA Handbook. It may sit in FSMA, the Regulated Activities Order or SI 2017/701, which are not yet mapped.
Version history
- From 26 Jun 2021
- From 17 Sept 2014 to 26 Jun 2021
Each entry is a consolidated version of the act on EUR-Lex in which this provision appears. The text itself is on the official site.