Bundesverband Alternative Investments e.V. (BAI)
In addition to the specific and direct regulation of the fund industry through AIFM Directive, UCITS Directive, ELTIF Regulation, EuVECA Regulation, and EuSEF Regulation, there are a multitude of other regulatory areas relevant to this industry, e.g. related to market infrastructure, trading and distribution activities or related services.
These include, in particular, the European financial markets directive MiFID II (together with the MiFIR Regulation), which also contains the relevant regulations on algorithmic or high frequency trading, the European market infrastructure regulation EMIR, which deals with requirements for the parties to derivative transactions, the regulation of securities financing transactions through the SFTR Regulation, the CSDR Regulation for the organisation and supervision of central securities depositories, or of course the European short selling regulation, which came back into focus in the Corona crisis.
MiFID II/MiFIR
Directive - Text
ESMA’s interactive MiFID II page with links
Regulation - Text
ESMA’s interactive MIFIR page with links
Short Selling
Rechtsgrundlagen
EU Regulation on short selling
Leerverkaufs-Anzeigeverordnung (LAnzV)
Weitere Informationen
ESMA Decision of September 17 2020
Decision requiring net short position holders to report positions of 0.1% and above
Algorithmic trading and high frequency trading
Rechtsgrundlagen
Art. 4 MiFID II text
ESMA’s interactive MiFID II page with links
Art. 17 MiFID II text
ESMA’s interactive MiFID II page with links
Weitere Informationen