Article D423-2 of the French Monetary and Financial Code
November 6, 2023
The list of recognised markets is drawn up by the Minister for the Economy, after consulting the Autorité des marchés financiers.
The list of recognised markets is drawn up by the Minister for the Economy, after consulting the Autorité des marchés financiers.
Persons domiciled or having their registered office outside the territory of the Republic are authorised to solicit the public in France with a view to trading on a recognised foreign market in transferable securities, futures contracts or any financial products, when they have been approved by the competent supervisory authority in their country of origin and after the competent French authorities have ensured that the rules of competence, good repute…
The Autorité des marchés financiers shall notify the European Securities and Markets Authority of any authorisation granted to an investment services provider other than a portfolio management company to provide the investment service referred to in Article 8 of L. 321-1 and of any authorisation granted to a market undertaking to operate a multilateral trading facility.
Silence on the part of the administration shall constitute a decision to reject : 1° Requests for initial approval of the rules of a multilateral trading facility pursuant to the second paragraph of Article L. 424-2; 2° Requests to amend the rules of a multilateral trading facility pursuant to the second paragraph of Article L. 424-2.
The implied decision referred to in 1° of article R. * 424-2 is given three months from the date of receipt of the application; the decision referred to in 2° is given one month.
The amount of average market capitalisation referred to in Article L. 424-6 is set in Article 77 of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and definitions of certain terms for the purposes of that Directive.
Without prejudice to Article 78 of the aforementioned Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 and for the application of Article L. 424-7, the multilateral trading facility as a growth market for small and medium-sized enterprises must meet the following conditions: 1° Appropriate criteria are defined for the initial and ongoing admission of issuers’ financial instruments to trading on the system; 2° At the time of the initial…
The Autorité des marchés financiers shall inform the European Securities and Markets Authority without delay when it registers or terminates the registration of a multilateral trading facility as a growth market for small and medium-sized enterprises.
Silence on the part of the administration shall constitute a decision to reject : 1° Applications for initial approval of the rules of an organised trading system made pursuant to the third paragraph of Article L. 425-2; 2° Requests to amend the rules of an organised trading system made pursuant to the third paragraph of Article L. 425-2.
The implied decision referred to in 1° of article R. * 425-1 arises at the end of a period of three months following the date of receipt of the application; the decision referred to in 2° arises at the end of a period of one month.
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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