Legislation applicable to MiFID Investment Firms

Key legislation relevant to the regulation of MiFID Investment Firms is listed below. Where the links provided are to www.irishstatutebook.ie, users should note the disclaimer on the Irish Statute Book website. Where the links provided are to https://eur-lex.europa.eu/, users should note the disclaimer on the EUR-Lex website.  In particular, it is important that all users check whether any amendments have been made to the legislation that they are consulting and to consult the consolidated version of the relevant legislation where available.

The following list is not exhaustive and is intended to serve as a general guide only.

Acts

• Investment Intermediaries Act 1995
• Investor Compensation Act 1998

• Markets in Financial Instruments Act 2018

Statutory Instruments

• S.I. No. 375 of 2017 European Union (Markets in Financial Instruments) Regulation 2017
• S.I. No. 355/2021 - European Union (Investment Firms) Regulation 2021
• S.I. No. 206 of 2009 European Communities (Assessment of Acquisitions in the Financial Sector) Regulations 2009
• S.I. No. 853 of 2004 European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004
• S.I. No. 730 of 2007 Markets in Financial Instruments and Miscellaneous Provisions Act 2007 (Commencement) Order 2007
• S.I. No. 10/2023 - Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2023

EU Legislation

• Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU
• Regulation (EU) 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012
• Directive (EU) 2019/2034 of the European parliament and of the council of 27 November 2019 on the prudential supervision of investment firms
• Regulation (EU) 2019/2033 of the European Parliament and of the council of 27 November 2019 on the prudential requirements of investment firms

• Regulation (EU) 2022/858 of the European Parliament and of the Council of 30 May 2022 on a pilot regime for market infrastructures based on distributed ledger technology

MiFID Investment Firms referred to in Article 1(2) or Article 1(5) of the Investment Firms Regulation should refer to the prudential requirements under the Capital Requirements Regulation and Capital Requirements Directive IV.

European Commission and European Supervisory Authorities

Firms are advised to consult the European Commission, ESMA and EBA websites for details of Level 2 measures/technical standards and Level 3 guidance.

• European Commission
• ESMA
• EBA