Art. 31b · Coordination function in relation to orders, transactions and activities with significant cross-border effects

Version in force 1 January 2020, Inserted +651 −0§

Amended by Regulation (EU) 2019/2175 32019R2175 on EUR-Lex (external, EUR-Lex)

Applies from: not readable (an inserted provision states its own application date only in prose) why

Explanation, written by a model and checked against the cited text

A new Article 31b is added, describing a coordination function concerning orders, transactions and activities with significant cross-border effects.

It provides that a competent authority holding evidence or clear indications from several different sources suspecting such orders, transactions or activity threaten orderly market functioning, market integrity or financial stability in the Union shall promptly notify the Authority and give it the relevant information, and that the Authority may issue an opinion on appropriate follow-up to the competent authorities of the Member States where the suspected activity occurred.

Cited: Art. 31b, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 31b
Coordination function in relation to orders, transactions and activities with significant cross-border effects
Where a competent authority has evidence or clear indications from several different sources to suspect that orders, transactions or any other activity with significant cross-border effects threaten the orderly functioning and integrity of financial markets or the financial stability in the Union, it shall promptly notify the Authority and provide the relevant information. The Authority may issue an opinion on appropriate follow-up to the competent authorities of the Member States where the suspected activity has occurred.