Database on German and European Economic Law

 Regulation (EU) No 2017/592

I. Description

The assessment whether persons are dealing on own account or are providing investment services in commodity derivatives, emission allowances and derivatives thereof in the Union as an activity ancillary to their main business should be performed at a group level.

The assessment should be performed in the form of two tests, which are both based on the trading activity of the persons within the group and should be calculated on a per-asset-class basis. The first test should determine whether the persons within the group are large participants relative to the size of the financial market in that asset class and as a consequence should be required to obtain authorisation as an investment firm. The second test should determine whether the persons within the group trade on own account or provide investment services in commodity derivatives, emission allowances or derivatives thereof to such a large extent relative to the main business of the group that those activities cannot be considered to be ancillary at group level and that therefore the persons should be required to obtain authorisation as an investment firm.

II. General Information

Title

Commission Delegated Regulation (EU) 2017/592 of 1 December 2016 supplementing Directive   2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the criteria to establish when an activity is considered to be ancillary to the main business

Status
Existing
Regulation
(EU) No 2017/592
Source
O.J. EU No L (Legislation), Edition 87, Year 2017, p.492
Adoption
12/01/2016
Promulgation
03/31/2017
Character
Lamfalussy Implementing Act
Framework Act
  Richtlinie 2014/65/EU

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text :
Commission Delegated Regulation (EU) 2017/592 of 1 December 2016 supplementing Directive   2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the criteria to establish when an activity is considered to be ancillary to the main business

  (EU) No 2017/592

Beschluss:
12/01/2016 (A)
Verkuendung:
03/31/2017 (P)
(A) Adoption | (P) Promulgation

Legend

Legislative Act Status

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions