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Published in:
2015 | OriginalPaper | Chapter
Financial Intermediaries in Investment Services or Activities
Author : Francesco Guarracino
Published in: Italian Banking and Financial Law
Publisher: Palgrave Macmillan UK
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According to European Directives on markets in financial instruments (no. 2004/39/EC of 21 April 2004, now partly recast1 as no. 2014/65/EU of 15 May 2014 and partly replaced by EU Regulation no. 600/2014), persons who provide investment services and/or perform investment activities2 as a regular occupation or business on a professional basis must be subject to authorization by their home Member States, with the exception of credit institutions authorized under Directive 2013/36/EU (previously under Directive 2000/12/EC), which do not need any additional authorization.