Art. 54

Markets in Financial Instruments Regulation · 32014R0600 · every event for this act · on EUR-Lex

Transitional provisions

6 changes recorded across 6 events, newest first.

in force 2024-03-28 MODIFIED+276 −0§

Amended by Regulation (EU) 2024/791 32024R0791

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2024-03-28

A new paragraph 3 has been added stating that provisions of delegated acts adopted under Regulation (EU) No 600/2014 as applicable before 28 March 2024 continue to apply until the date of application of the delegated acts adopted under that Regulation as applicable from that date.

Paragraphs 1 and 2 remain unchanged between the two versions.

Cited: Art. 54, v2 · Art. 54, v1

text before / after

02014R0600-20240109 → 02014R0600-20240328

Article 54 Transitional provisions 1. Third‐country firms may continue to provide services and activities in Member States, in accordance with national regimes, until three years after the adoption by the Commission of a decision in relation to the relevant third country in accordance with Article 47. Services and activities not covered by such a decision may continue to be provided in accordance with national regime. 2. If the Commission concludes that there is no need to exclude exchange-traded derivatives from the scope of Articles 35 and 36 in accordance with Article 52(12), a CCP or a trading venue may, before 22 June 2022, apply to its competent authority for permission to avail itself of transitional arrangements. The competent authority, taking into account the risks to the orderly functioning of the relevant CCP or trading venue resulting from the application of the access rights under Article 35 or 36 as regards exchange-traded derivatives, may decide that Article 35 or 36 does not apply to the relevant CCP or trading venue, respectively, in respect of exchange-traded derivatives, for a transitional period until 3 July 2023. Where the competent authority decides to approve such a transitional period, the CCP or trading venue shall not benefit from the access rights under Article 35 or 36 as regards exchange-traded derivatives for the duration of the transitional period. The competent authority shall notify ESMA and, in the case of a CCP, the college of competent authorities for that CCP, whenever it approves a transitional period. Where a CCP which has been approved for the transitional arrangements, is connected by close links to one or more trading venues, those trading venues shall not benefit from access rights under Article 35 or 36 for exchange-traded derivatives for the duration of that transitional period. Where a trading venue, which has been approved for the transitional arrangements, is connected by close links to one or more CCPs, those CCPs shall not benefit from access rights under Article 35 or 36 for exchange-traded derivatives for the duration of that transitional period.3. The provisions of the delegated acts adopted pursuant to Regulation (EU) No 600/2014 as applicable before 28 March 2024 shall continue to apply until the date of application of the delegated acts adopted pursuant to Regulation (EU) No 600/2014 as applicable from that date.

in force 2022-01-01 MODIFIED§

Amended by Regulation (EU) 2019/2175 32019R2175 · Regulation (EU) 2022/858 32022R0858

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2022-06-22, 2023-07-03 · dates removed: 2021-02-11, 2021-07-03

The deadline by which a CCP or trading venue may apply to its competent authority for transitional arrangements changed from 11 February 2021 to 22 June 2022.

The end date of the transitional period that a competent authority may grant changed from 3 July 2021 to 3 July 2023.

The wording describing the Commission's determination changed from assessing that there is no need to exclude exchange-traded derivatives to concluding that there is no need, and related phrasing about the competent authority's decision and notification duty was also reworded without changing the substance described.

Cited: Art. 54, v1 · Art. 54, v2

text before / after, on the event page →

in force 2021-06-26 MODIFIED§

Amended by Regulation (EU) 2019/2033 32019R2033

applies from: unchanged

The wording changed from stating that third-country firms shall be able to continue providing services and activities under national regimes to stating that they may continue to do so, with a comma added after 'national regimes'.

A new sentence was added stating that services and activities not covered by a Commission decision under Article 47 may continue to be provided in accordance with national regime.

Cited: Art. 54, v2

text before / after, on the event page →

in force 2020-07-04 MODIFIED§

Amended by Regulation (EU) 2021/23 32021R0023

applies from: unknown (the text changed beyond its dates, so no date that moved can be read as the application date)

dates added to the text: 2021-02-11, 2021-07-03 · dates removed: 2020-07-03

The deadline by which a CCP or trading venue may apply to its competent authority for permission to use transitional arrangements is changed from a reference to the entry into application of the Regulation to a fixed date of 11 February 2021.

The end date of the transitional period during which Article 35 or 36 would not apply is changed from 3 July 2020 to 3 July 2021.

The wording describing what happens once a transitional period is approved is rephrased from stating that the CCP or trading venue cannot benefit from the access rights to stating that it shall not benefit from them, with minor phrasing adjustments elsewhere in the paragraph.

Cited: Art. 54, v2 · Art. 54, v1

text before / after, on the event page →

in force 2020-03-26 MODIFIED§

Amended by Regulation (EU) 2019/2033 32019R2033

applies from: unknown

Sources disagree — the amending act's instructions found this change; the text comparison finds no difference in the provision's text and the EU's own amendment metadata does not list it. All are shown; none is overruled.

No explanation shipped — the structural diff did not see this change, so it carries no text; another signal named the unit and the disagreement ships as `disputed`.

text before / after, on the event page →

in force 2016-07-01 DEFERRED§

Amended by Regulation (EU) 2016/1033 32016R1033

applies from: 2020-07-03

dates added to the text: 2020-07-03 · dates removed: 2019-07-03

The only change is the end date of the transitional period during which a competent authority may decide that Article 35 or 36 does not apply to a CCP or trading venue in respect of exchange-traded derivatives, which moves from 3 July 2019 to 3 July 2020.

Cited: Art. 54, v1 · Art. 54, v2

text before / after, on the event page →