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Can you summarize EU 2020/1504?
European Union - Directives > Directive (EU) 2020/1504 of the European Parliament and of the Council of 7 October 2020 amending Directive 2014/65/EU on markets in financial instruments (Text with EEA relevance)
Short Summary
Directive (EU) 2020/1504 of the European Parliament and of the Council amends Directive 2014/65/EU on markets in financial instruments. The amendment aims to provide legal certainty regarding the persons and activities falling within the scope of Regulation (EU) 2020/1503 and Directive 2014/65/EU. It excludes legal persons authorized as crowdfunding service providers under Regulation (EU) 2020/1503 from the scope of Directive 2014/65/EU. Member States are required to adopt and publish the necessary laws, regulations, and administrative provisions to comply with this Directive by 10 May 2021 and apply them from 10 November 2021. This Directive is addressed to the Member States of the European Union.
Whom does it apply to?
Member States of the European Union
What does it govern?
Amending Directive 2014/65/EU on markets in financial instruments
What are exemptions?
Legal persons authorized as crowdfunding service providers under Regulation (EU) 2020/1503 are excluded from the scope of Directive 2014/65/EU
What are the Penalties?
No specific penalties mentioned
Jurisdiction
European Union