EU · MiFIR · TITLE IVa DATA REPORTING SERVICES · CHAPTER 1 Authorisation of data reporting services providers

Article 27f MiFIRRequirements for the management body of a data reporting services provider

In force

Read the official text on EUR-Lex(opens in a new tab)

AI-generated What this provision does

Members of a data reporting services provider's management body must be of good repute with sufficient knowledge, skills, experience and time, collectively understand the business and act independently; providers must notify membership changes and ensure sound governance, and ESMA (or the national authority) must refuse or withdraw authorisation where management is unsuitable. ESMA RTS cover the suitability assessment.

Amendments and application dates

Amending act	Change	Applies from
Regulation (EU) 2019/2175	Text inserted; Provision inserted	by 1 Jan 2022
Regulation (EU) 2024/791	Text amended	28 Mar 2024

Level 3: ESMA Q&As, guidelines and opinions

GuidelinesPublishedESMA rulebook
ESMA80-634726060-3082: Guidelines On Internal Controls for Benchmark Administrators, Credit Rating Agencies and Market Transparency Infrastructures
ESMA · the ESMA website
AI summaryESMA guidelines of May 2026 (ESMA80-634726060-3082) on the internal control framework and internal control functions (such as compliance, risk management and internal audit) expected of entities ESMA supervises directly, including benchmark administrators, credit rating agencies, data reporting services providers other than consolidated tape providers, and securitisation repositories.
GuidelinesPublishedESMA rulebook
ESMA70-154-271: Guidelines on the management body of market operators and data reporting services providers
ESMA · the ESMA website
AI summaryESMA guidelines (ESMA70-154-271), applying from 3 January 2018, on the suitability of management body members of market operators and data reporting services providers: time commitment and counting directorships, knowledge, skills and experience, honesty, integrity and independence of mind, induction and training, diversity, and record keeping for supervisors.

Commentary

No law-firm commentary is linked to this provision yet.

219 more documents relate to MiFIR as a whole without naming an article.

UK counterpart

No UK counterpartExplicit reference
Inserted in the EU by Regulation (EU) 2019/2175 (by 1 Jan 2022), after exit.

Version history

From 28 Mar 2024
From 1 Jan 2022 to 28 Mar 2024

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.