Source: OJ L 333, 27.12.2022, p. 1–79
ENRecital 41 Exclusion of natural and legal persons according to MiFID 2
Similarly, in order to align this Regulation to the scope of Directive 2014/65/EU of the European Parliament and of the Council(18)Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349)., it is also appropriate to exclude from the scope of this Regulation natural and legal persons referred in Articles 2 and 3 of that Directive which are allowed to provide investment services without having to obtain an authorisation under Directive 2014/65/EU. However, Article 2 of Directive 2014/65/EU also excludes from the scope of that Directive entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; which qualify as financial entitiesas defined in Article 2, points (a) to (t) for the purposes of this Regulation such as, central securities depositories means a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014;, collective investment undertakings or insurance and reinsurance undertakings means a reinsurance undertaking as defined in Article 13, point (4), of Directive 2009/138/EC;. The exclusion from the scope of this Regulation of the persons and entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; referred to in Articles 2 and 3 of that Directive should not encompass those central securities depositories means a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014;, collective investment undertakings or insurance and reinsurance undertakings means a reinsurance undertaking as defined in Article 13, point (4), of Directive 2009/138/EC;.