EU · MiFID II · TITLE II AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS · CHAPTER II Operating conditions for investment firms · Section 3 Market transparency and integrity

Article 31 MiFID IIMonitoring of compliance with the rules of the MTF or the OTF and with other legal obligations

In force

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

AI-generated What this provision does

Requires operators of MTFs and OTFs to monitor members' compliance with their rules, orders and transactions to detect rule breaches, disorderly trading, possible market abuse and system disruptions, and to meet MiFIR data quality standards; they must immediately report significant cases to their competent authority (which informs ESMA and other authorities) and assist market abuse investigations.

Amendments and application dates

Amending act	Change	Applies from
Directive (EU) 2024/790	Text inserted	29 Sept 2025

Level 2: delegated and implementing acts

Delegated actIn forceLegal basis
Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive
European Commission · 31 Mar 2017 · EUR-Lex
AI summaryThe main MiFID II Delegated Regulation: defines key terms (such as investment advice, systematic internaliser, algorithmic and high-frequency trading, and direct electronic access) and sets detailed organisational requirements and operating conditions for investment firms, including compliance, conflicts of interest, remuneration, client information, suitability and appropriateness, best execution, client order handling, reporting to clients, record keeping and transaction-level obligations.

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) 2024/790 (from 29 Sept 2025).
- MAR 5.5.1R
- MAR 5A.7.1R
MAR 5.6.1AR
MAR Market Conduct · in force from 23 Oct 2025
DivergedExplicit reference · 90%
EU changes after exit: Directive (EU) 2024/790 (from 29 Sept 2025). UK changes after exit to MAR 5.6.1AR: FCA 2025/40 (from 23 Oct 2025).
MAR 5A.8.1AR
MAR Market Conduct · in force from 23 Oct 2025
DivergedExplicit reference · 90%
EU changes after exit: Directive (EU) 2024/790 (from 29 Sept 2025). UK changes after exit to MAR 5A.8.1AR: FCA 2025/40 (from 23 Oct 2025).
REC 3.25.1R
REC Recognised Investment Exchanges · in force from 30 Apr 2021
DivergedExplicit reference · 90%
EU changes after exit: Directive (EU) 2024/790 (from 29 Sept 2025). UK changes after exit to REC 3.25.1R: FCA 2021/15 (from 30 Apr 2021).

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Version history

From 28 Mar 2024
From 17 Sept 2014 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.