Retained EU Law SI 2006/1287 United Kingdom

Commission Regulation (EC) No 1287/2006 of 10 August 2006 implementing Directive 2004/39/EC of the European Parliament and of the Council as regards record-keeping obligations for investment firms, transaction reporting, market transparency, admission of financial instruments to trading, and defined terms for the purposes of that Directive (Text with EEA relevance)

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Financial Services Firm6 Any Person5 Trader1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Financial Services Firm — also bound by 167 other Acts
Any Person — also bound by 2340 other Acts
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art007 (Article 13(6) of Directive 2004/39/EC)Record-keeping of client orders and decisions to deal Regulated
  • Record client orders and decisions to deal immediatelyFinancial Services Firm
s.art008 (Article 13(6) of Directive 2004/39/EC)Record-keeping of transactions Regulated
  • Record transaction and order details immediately after execution or transmissionFinancial Services Firm
s.art011 (Article 25(3) of Directive 2004/39/EC)List of financial instruments Regulated
  • Regulated markets must submit financial instrument data to the competent authorityAny Person
s.art013 (Article 25(3) and (5) of Directive 2004/39/EC)Content of the transaction report Regulated
  • Include required transaction report information for financial instrumentsFinancial Services Firm
s.art021 (Article 4(1)(7) of Directive 2004/39/EC)Criteria for determining whether an investment firm is a systematic internaliser Regulated
  • Announce intention to stop being a systematic internaliser in advanceFinancial Services Firm
s.art024 (Article 27(1) of Directive 2004/39/EC)Quotes reflecting prevailing market conditions Regulated
  • Maintain quotes reflecting market conditions and keep records for 12 monthsTrader
s.art025 (Fifth subparagraph of Article 27(3) and Article 27(6) of Directive 2004/39/EC)Execution of orders by systematic internalisers Regulated
  • Maintain a non-discriminatory risk management policy and document order volume limitsAny Person
s.art029 (Articles 27(3), 28(1), 29(1), 44(1) and 45(1) of Directive 2004/39/EC)Publication and availability of pre- and post-trade transparency data Regulated
  • Publish pre- and post-trade transparency data in near real timeFinancial Services Firm
s.art031 (Article 22(2) of Directive 2004/39/EC)Disclosure of client limit orders Regulated
  • Disclose client limit orders that are not immediately executableFinancial Services Firm
s.art035 (Article 40(1) of Directive 2004/39/EC)Transferable securities Regulated
  • Assess fair trading capability before admitting securitiesAny Person
s.art036 (Article 40(1) of Directive 2004/39/EC)Units in collective investment undertakings Regulated
  • Verify compliance and assess fair trading for collective investment unitsAny Person
s.art037 (Article 40(1) and (2) of Directive 2004/39/EC)Derivatives Regulated
  • Verify conditions before admitting derivatives to tradingAny Person
29 other provisions — procedural and definitional
s.art001 Subject-matter and scope
s.art002 Definitions
s.art003 Transactions related to an individual share in a portfolio trade and volume weighted average price transactions
s.art004 References to trading day
s.art005 References to transaction
s.art006 First admission to trading of a share on a regulated market
s.art009 (Second subparagraph of Article 25(3) of Directive 2004/39/EC)Determination of the most relevant market in terms of liquidity
s.art010 (Second subparagraph of Article 25(3) of Directive 2004/39/EC)Alternative determination of most relevant market in terms of liquidity
s.art012 (Article 25(5) of Directive 2004/39/EC)Reporting channels
s.art014 (Article 25(3) and (5) of Directive 2004/39/EC)Exchange of information on transactions
s.art015 (Article 58(1) of Directive 2004/39/EC)Request for cooperation and exchange of information
s.art016 (Article 56(2) of Directive 2004/39/EC)Determination of the substantial importance of a regulated market's operations in a host Member State
s.art017 (Articles 29 and 44 of Directive 2004/39/EC)Pre-trade transparency obligations
s.art018 (Articles 29(2) and 44(2) of Directive 2004/39/EC)Waivers based on market model and type of order or transaction
s.art019 (Articles 29(2) and 44(2) of Directive 2004/39/EC)References to negotiated transaction
s.art020 (Articles 29(2) and 44(2), and fifth subparagraph of Article 27(1) of Directive 2004/39/EC)Waivers in relation to transactions which are large in scale
s.art022 (Article 27 of Directive 2004/39/EC)Determination of liquid shares
s.art023 (Fourth subparagraph of Article 27(1) of Directive 2004/39/EC)Standard market size
s.art026 (Fourth subparagraph Article 27(3) of Directive 2004/39/EC)Retail size
s.art027 (Articles 28, 30 and 45 of Directive 2004/39/EC)Post-trade transparency obligation
s.art028 (Articles 28, 30 and 45 of Directive 2004/39/EC)Deferred publication of large transactions
s.art030 (Articles 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Public availability of pre- and post-trade information
s.art032 (Article 22(2), 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Arrangements for making information public
s.art033 (Articles 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Calculations and estimates for shares admitted to trading on a regulated market
s.art034 (Articles 27, 28, 29, 30, 44 and 45 of Directive 2004/39/EC)Publication and effect of results of required calculations and estimates
s.art038 (Article 4(1)(2) of Directive 2004/39/EC)Characteristics of other derivative financial instruments
s.art039 (Article 4(1)(2) of Directive 2004/39/EC)Derivatives within Section C(10) of Annex I to Directive 2004/39/EC
s.art040 Re-examinations
s.art041 Entry into force

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