in force 2022-01-01 INSERTED+1,843 −0§
Amended by Regulation (EU) 2019/2175 32019R2175 · Regulation (EU) 2022/858 32022R0858
applies from: unknown (an inserted provision states its own application date only in prose)
Sources disagree — the text comparison found this change; the EU's own amendment metadata does not list it. Both are shown; neither is overruled.
A new Article 27b sets out that operating an APA, CTP or ARM as a regular occupation or business requires prior authorisation, generally by ESMA, though certain APAs or ARMs identified under a specified delegated act fall instead under authorisation and supervision by the relevant national competent authority.
It also allows an investment firm or market operator running a trading venue to provide APA, CTP or ARM services once verified by ESMA or the national competent authority, with that provision included in their authorisation, and requires ESMA to maintain a public register of data reporting services providers, including publishing withdrawals of authorisation for five years, and to supervise ongoing compliance with the Title.
Cited: Art. 27b, v2
text before / after
inserted text (02014R0600-20220101)
Article 27b Requirement for authorisation 1. The operation of an APA, a CTP or an ARM as a regular occupation or business shall be subject to prior authorisation by ESMA in accordance with this Title. By way of derogation from the first subparagraph of this paragraph, an APA or ARM identified in accordance with the delegated act referred to in Article 2(3) shall be subject to prior authorisation and supervision by the relevant national competent authority in accordance with this Title. 2. An investment firm or a market operator operating a trading venue may also provide the services of an APA, a CTP or an ARM, subject to the prior verification by ESMA or the relevant national competent authority that the investment firm or the market operator complies with this Title. The provision of those services shall be included in their authorisation. 3. ESMA shall establish a register of all data reporting services providers in the Union. The register shall be publicly available and shall contain information on the services for which the data reporting services provider is authorised and it shall be updated on a regular basis. Where ESMA, or a national competent authority where relevant, has withdrawn an authorisation in accordance with Article 27e, that withdrawal shall be published in the register for a period of five years. 4. Data reporting services providers shall provide their services under the supervision of ESMA or the national competent authority where relevant. ESMA, or the national competent authority where relevant, shall regularly review the compliance of data reporting services providers with this Title. ESMA, or the national competent authority where relevant, shall monitor that data reporting services providers comply at all times with the conditions for initial authorisation established under this Title.