EU · MiFID II · TITLE I SCOPE AND DEFINITIONS
Article 1 MiFID IIScope
Sets the scope of MiFID II: it applies to investment firms, market operators and third-country firms operating through EU branches, and governs authorisation and operating conditions, third-country branches, regulated markets, and supervision and enforcement. Specified provisions also apply to credit institutions providing investment services or selling structured deposits, Article 17(1)-(6) to exempt members of regulated markets and MTFs, and Articles 57-58 to persons exempt under Article 2.
Amendments and application dates
| Amending act | Change | Applies from |
|---|---|---|
| Directive (EU) 2019/2177 | Text deleted; Text amended | by 1 Jan 2022 |
| Directive (EU) 2024/790 | Text deleted | 29 Sept 2025 |
Level 3: ESMA Q&As, guidelines and opinions
- Q&AForwarded to the CommissionInferred · 70%
AI summaryAsks whether MiFID II investor protection rules apply to EU-authorised investment firms when they serve clients outside the EU. ESMA forwarded it to the Commission; there is no answer yet.
- Q&AAnsweredInferred · 80%
AI summaryESMA treats securities financing transactions involving financial instruments as transactions in financial instruments here, so a system bringing together multiple third-party trading interests in such transactions must be authorised as a trading venue.
- Q&AAnsweredInferred · 80%
AI summaryA system offering quote streaming and order execution with multiple systematic internalisers, letting clients request execution against several of them, is a multilateral system and must be authorised as a trading venue, even without aggregating quotes.
- 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 It is no longer updated; later Q&As are in ESMA's Q&A tool.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
- DivergedExplicit reference · 90%
EU changes after exit: Directive (EU) 2019/2177 (by 1 Jan 2022), Directive (EU) 2024/790 (from 29 Sept 2025).
- COBS 6.2B.6R Interpretation of rules and guidance: relevant products
- MAR 5AA.1.1R
- MAR 7A.1.2R What?
- PROD 1.3.1R General: Who? What?
- REC 3.14.2AR Products and services
- REC 3.15.2AR Suspension of services
- DISP 1.1A.3G · Application: Who? What?DivergedExplicit reference · 90%
EU changes after exit: Directive (EU) 2019/2177 (by 1 Jan 2022), Directive (EU) 2024/790 (from 29 Sept 2025). UK changes after exit to DISP 1.1A.3G: FCA 2025/40 (from 23 Oct 2025).
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Version history
- From 28 Mar 2024
- From 1 Jan 2022 to 28 Mar 2024
- From 17 Sept 2014 to 1 Jan 2022
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.