MiFID II Regulations 2017The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017

PART 1: Introductory provisions

1. Regulation 1 Citation and commencement
2. Regulation 2 Interpretation
3. Regulation 2A References to EU Regulations etc
4. Regulation 2B High message intraday rate
5. Regulation 3 Designation of competent authorities

PART 2: Exempt and third-country investment firms

CHAPTER 1: Exempt investment firms

1. Regulation 4 Applications to be an exempt investment firm
2. Regulation 5 Limitation on exempt investment firms (revoked)
3. Regulation 6 Requirements applying to exempt investment firms
4. Regulation 7 Transitional provision: exempt investment firms
5. Regulation 8 Meaning of “exempt investment firm” in Chapter 1

CHAPTER 2: Third country investment firms

1. Regulation 9 Third country firms with an EEA branch: provision of services (revoked)
2. Regulation 10 FCA power to intervene in relation to third country firms with an EEA branch (revoked)
3. Regulation 11 Third country firms registered with the FCA: provision of services
4. Regulation 12 FCA power to intervene in relation to third country firms registered with the FCA
5. Regulation 13 Third country firms: provision of services to eligible counterparties or clients considered to be professionals
6. Regulation 14 Third country firms: financial promotions
7. Regulation 15 Interpretation of Chapter 2

PART 3: Position limits and position management controls in commodity derivatives

1. Regulation 15A FCA rules relating to position limits
2. Regulation 16 FCA power to establish position limits
3. Regulation 17 Exemption for non-financial entities (revoked)
4. Regulation 18 Content of position limits (revoked)
5. Regulation 19 FCA duty to use Regulation (EU) 2017/591 to establish position limits and to review if market changes (revoked)
6. Regulation 20 ESMA opinions on position limits (revoked)
7. Regulation 21 Position limits affecting multiple EEA jurisdictions (revoked)
8. Regulation 22 Cooperation with other competent authorities regarding position limits affecting multiple EEA jurisdictions (revoked)
9. Regulation 23 General requirements for position limits
10. Regulation 24 FCA duty to notify ESMA of established position limits and position management controls (revoked)
11. Regulation 25 Procedure in exceptional cases (revoked)
12. Regulation 26 Effect of position limits established by the FCA ...
13. Regulation 27 FCA power to require information
14. Regulation 28 FCA power to intervene
15. Regulation 28A Cooperation with ESMA and other competent authorities in respect of interventions to restrict, reduce, or limit positions (revoked)
16. Regulation 29 Interpretation of Part 3

PART 4: Algorithmic trading etc by members of trading venues covered by certain exemptions from the markets in financial instruments directive

1. Regulation 30 Algorithmic trading
2. Regulation 31 Provision of information to the FCA concerning algorithmic trading
3. Regulation 32 Direct electronic access
4. Regulation 33 Provision of information to the FCA concerning direct electronic access
5. Regulation 34 Acting as a general clearing member
6. Regulation 35 Synchronisation of business clocks
7. Regulation 36 FCA power to impose requirements
8. Regulation 37 Interpretation of Part 4

PART 5: Removal of persons from the management board of an investment firm, credit institution, or recognised investment exchange

1. Regulation 38 FCA and PRA power to remove a person from a management board
2. Regulation 39 Right to refer matters to the Tribunal
3. Regulation 40 Removal of persons from management boards: procedure

PART 6: Miscellaneous FCA functions in relation to the markets in financial instruments directive and markets in financial instruments regulation

1. Regulation 41 Provision of FCA record of recognised investment exchanges to ESMA and other competent authorities (revoked)
2. Regulation 42 Provision of information to ESMA about multilateral trading facilities etc (revoked)
3. Regulation 43 Provision to ESMA of reports by recognised investment exchanges of infringements of the exchange's rules, disorderly trading, suspected market abuse, and systems disruptions (revoked)
4. Regulation 44 Authorisation of members of management bodies to hold additional non-executive directorship
5. Regulation 45 Provision of information to ESMA regarding sanctions and measures imposed for the purposes of the markets in financial instruments directive (revoked)
6. Regulation 46 Provision of information to other competent authorities regarding persons engaged in algorithmic trading or providing direct electronic access (revoked)
7. Regulation 47 Reports and applications
8. Regulation 47A Position management and publication of position reports
9. Regulation 47B Statements of Policy

PART 7: Miscellaneous

1. Regulation 48 Refund of fees by the Gambling Commission
2. Regulation 49 Administration and enforcement of the Regulations
3. Regulation 50 Amendments to legislation
4. Regulation 51 Review

1. Schedule 1 Administration and enforcement of Parts 3, 4, and 5
2. Schedule 2 Amendments to the Financial Services and Markets Act 2000
3. Schedule 3 Amendments to secondary legislation made under the Financial Services and Markets Act 2000
4. Schedule 4 Amendments to other primary legislation
5. Schedule 5 Amendments to other secondary legislation