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Provision history · MiFIR

Art. 27e · Withdrawal of authorisation

Markets in Financial Instruments Regulation · 32014R0600 · every version of this act · on EUR-Lex

2 changes recorded across 2 versions, newest first.

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Version in force Modified +339 −0

Amended by Regulation (EU) 2024/791 32024R0791 on EUR-Lex

Applies from: no date changed

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

A new paragraph 3 has been added stating that a data reporting services provider whose authorisation is to be withdrawn shall ensure orderly substitution, including transferring data to other data reporting services providers, giving due notice to its clients, and redirecting reporting flows to other data reporting services providers before the withdrawal.

Paragraphs 1 and 2, covering the grounds for withdrawal and ESMA's notification duty, remain unchanged between the two versions.

Cited: Art. 27e, v2 · Art. 27e, v1

v1 is the previous version, v2 this one.

Text from EUR-Lex, before and after

Previous version, in force 9 January 2024 02014R0600-20240109 → this version, in force 28 March 2024 02014R0600-20240328

Article 27e Withdrawal of authorisation 1. ESMA, or the national competent authority where relevant, may withdraw the authorisation of a data reporting services provider where the latter: (a) does not make use of the authorisation within 12 months, expressly renounces the authorisation or has provided no services for the preceding six months; (b) obtained the authorisation by making false statements or by any other irregular means; (c) no longer meets the conditions under which it was authorised; (d) has seriously and systematically infringed this Regulation. 2. ESMA shall, where relevant, without undue delay, notify the national competent authority in the Member State where the data reporting services provider is established of a decision to withdraw the authorisation of a data reporting services provider.3. A data reporting services provider from which authorisation is to be withdrawn shall ensure orderly substitution, including the transfer of data to other data reporting services providers, the provision of due notice to its clients and the redirection of reporting flows to other data reporting services providers before the withdrawal.

Version in force Inserted

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

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

Not in every listWhat this means

Found in the text, but not every source lists it — the text comparison found this change; the EU's own amendment metadata does not list it. The source that does not name it is the EU's own amendment metadata. Both are shown; neither is overruled.

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

Article 27e is new text that gives ESMA, or the national competent authority where relevant, the power to withdraw a data reporting services provider's authorisation on grounds such as non-use, renunciation, absence of activity for six months, obtaining authorisation through false statements or irregular means, no longer meeting the authorisation conditions, or serious and systematic infringement of the Regulation.

It also adds a duty for ESMA to notify, where relevant and without undue delay, the national competent authority of the Member State where the provider is established when such a withdrawal decision is taken.

Cited: Art. 27e, v2

v1 is the previous version, v2 this one.

Text from EUR-Lex, on this version's page