S.L. 330.12 ст. 7Applicability of these regulations.

(1) These regulations shall apply at least in the case of breach of any of the following:

(a) the provisions of regulations 3 to 8 of the

Algorithmic Trading Regulations, 2017;

(b) the provisions of regulations 3(1) to (6), 4, 5, and 6(1) to (3) and (5) of the Multilateral Trading Facilities and

Organised Trading Facilities Regulations;

(c) the provisions of Articles 4(1) and (2), 4B(1) and (4), 4C(1), (2)and (3), 4E, 4F, 4G(1), 7, 8(2)(d), 10B(2), 17(1)(b), (d), (e) and (g) of the FMA;

(d) the provisions of regulation 4(1) of the

Financial Markets Act (SME Growth Market) Regulations, 2017;

(e) the provisions of regulation 5(1) and 8 of the

Financial Markets Act (Membership and Access) Regulations;

(f) the provisions of regulation 3(1), (2) and (4) of the Central Counterparties Access Regulations, 2017;

(g) the provisions of regulations 3, 8 and paragraphs 2, 3, 4, 5 of the Schedule of the Regulated Markets (Authorisation Requirements) Regulations;

(h) the provisions of regulations 3(3) and 4(3) of the European Rights for Regulated Markets Regulations;

(i) the provisions of regulations 3(1) to (3), (5),

(15), (17) and (19) and regulation 4(1) to (7) of the Position Limits and Position Management Controls in Commodity Derivatives and Reporting Regulations, 2017.

(j) Deleted by Legal Notice 137 of 2022.

(2) These regulations shall apply at least in the case of a breach of any of the following provisions of MiFIR:

(a) Articles 3(1) and (3) relating to pre-trade transparency requirements for trading venues in respect of shares,

INVESTIGATORY POWERS) depositary receipts, ETFs, certificates and other similar financial instruments;

(b) the first sub-paragraph of Article 4(3) relating to waivers for equity instruments;

(c) Article 5 relating to volume cap;

(d) Article 6 relating to post-trade transparency requirements for trading venues in respect of shares, depositary receipts, ETFs, certificates and other similar financial instruments;

(e) the first sentence of the third sub-paragraph of Article 7(1) relating to authorisation of deferred publication;

(f) Article 8(1) relating to pre-trade transparency requirements for trading venues in respect of bonds, structured finance products and emission allowances;

(g) Article 8a(1) and (2) relating to pre-trade transparency requirements for trading venues in respect of derivatives;

(h) Article 8b relating to pre-trade transparency requirements for trading venues in respect of package orders;

(i) Article 10 relating to post-trade transparency requirements for trading venues in respect of bonds, structured finance products, emission allowances and derivatives;

(j) the first sentence of the second sub-paragraph of Article 11(1), the second sub-paragraph of Article 11(1a), Article 11(1b) and the fourth sub-paragraph of Article 11(3) relating to deferred publication in respect of bonds, structured finance products or emission allowances;

(k) the first sentence of the second sub-paragraph and the fourth sub-paragraph of Article 11a(1) relating to deferred publication in respect of derivatives;

(l) Article 12(1) relating to the obligation to make pre-trade and post-trade data available separately;

(m) Article 13(1) and (2) relating to the obligation to make pre-trade and post-trade data available on a reasonable commercial basis;

(n) Article 14(1), (2) and (3) relating to the obligation for systematic internalisers to make public firm quotes in respect of shares, depositary receipts, ETFs, certificates and other similar financial instruments;

(o) Article 15(1) and (2) and the second sentence of Article 15(4) relating to the execution of client orders;

(p) the second sentence of article 17(1) relating to access to quotes;

(q) Article 20(1), Article 20(1a) and the first sentence of Article 20(2) relating to post-trade disclosure by investment firms, including systematic internalisers, in S.L.330.12

INVESTIGATORY POWERS) respect of shares, depositary receipts, ETFs, certificates and other similar financial instruments;

(r) Article 21(1), (2) and (3) relating to post-trade disclosure by investment firms in respect of bonds, structured finance products, emission allowances and derivatives;

(s) Article 22(2) relating to the provision of information for the purposes of transparency and other calculations;

(t) Article 22a(1) and (5) to (8) relating to the transmission of data to the CTP;

(u) Article 22b(1) relating to data quality;

(v) Article 22c(1) relating to the synchronisation of business clocks;

(w) Article 23(1) and (2) relating to the trading obligation for investment firms;

(x) Article 25(1) and (2) relating to the obligation to maintain records;

(y) the first sub-paragraph of Article 26(1), Article 26(2) to (5), the first sub-paragraph of Article 26(6) and the first to fifth and eighth sub-paragraph of Article 26(7) relating to the obligation to report transactions;

(z) Article 27(1) relating to the obligation to supply financial instrument reference data;

(aa) Article 27f(1), (2) and (3) relating to the requirements for the management body of a data reporting services provider;

(ab) Article 27g(1) to (5) relating to the organisational requirements for APAs;

(ac) Article 27i(1) to (4) relating to the organisational requirements for ARMs;

(ad) Article 28(1) relating to the obligation to trade on regulated markets, MTFs or OTFs;

(ae) Article 29(1) and (2) relating to the clearing obligation for derivatives traded on regulated markets and timing of acceptance for clearing;

(af) Article 30(1) relating to indirect clearing arrangements;

(ag) Article 31(3) relating to post-trade risk reductions services;

(ah) Article 35(1), (2) and (3) relating to non-discriminatory access to a CCP as defined in Article 2(1) of Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories;

(ai) Article 36(1), (2) and (3) relating to non-

INVESTIGATORY POWERS) discriminatory access to a trading venue;

(aj) Article 37(1) and (3) relating to non-discriminatory access to and the obligation to licence benchmarks;

(ak) Article 39a relating to the prohibition of receiving payment for order flow;

(al) Article 40 relating to ESMA temporary intervention powers;

(am) Article 41 relating to EBA temporary intervention powers; and

(an) Article 42 relating to product intervention by the competent authority.

(3) Deleted by Legal Notice 215 of 2025.

(4) The provision of investment services without the required authorisation or approval in accordance with:

(a) the provisions of the Financial Markets Act;

(b) the provisions of the Regulated Markets (Authorisation Requirements) Regulations;

(c) Deleted by Legal Notice 137 of 2022.

shall also be considered as an infringement of MiFID and of the Financial Markets Act and thereafter subject to the applicability of these regulations.

(5) The provision of investment services without the required authorisation or approval contrary to the requirements prescribed in:

(a) the provisions of Article 7(1) on the requirement of market operators and investment firms operating a trading venue to obtain the competent authority’s prior approval of the proposed arrangement for deferred trade publication and to disclose these arrangements to the market participants and to the public; and

(b) the provisions of Article 11(1) on the requirement applicable to market operators and investment firms operating a trading venue to obtain authorisation from the competent authority for deferred publication of the details of transactions based on the size and type of the transaction;

(c) the provisions of Article 27b of MiFIR on the requirements for authorisation to operate an APA or ARM, where an APA or ARM has a derogation in accordance with Article 2(3) of MiFIR;

shall also be considered as an infringement of MiFIR and thereafter subject to the applicability of these regulations. S.L.330.12

INVESTIGATORY POWERS)

(6) Failure to cooperate or comply in an investigation or with an inspection or request covered by Article 69 of MiFID shall also be considered an infringement and subject to the applicability of these regulations.