Updated 05/02/2025
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ESMAR ToolEuropean Securities and Markets Authority Regulation (ESMAR)
Article 4

Article 4 - Regulation 1095/2010 (ESMA Regulation)

Article 4

Definitions

For the purposes of this Regulation the following definitions apply:

(1)

‘financial market participant’ means any person in relation to whom a requirement in the legislation referred to in Article 1(2) or a national law implementing such legislation applies;

(2)

‘key financial market participant’ means a financial market participant whose regular activity or financial viability has or is likely to have a significant effect on the stability, integrity or efficiency of the financial markets in the Union;

(3)

‘competent authorities’ means:

(i)

competent authorities and/or supervisory authorities as defined in the legislation referred to in Article 1(2);

(ii)

with regard to Directives 2002/65/EC and 2005/60/EC, the authorities competent for ensuring compliance with the requirements of those Directives by firms providing investment services and by collective investment undertakings marketing their units or shares;

(iii)

with regard to investor compensation schemes, bodies which administer national compensation schemes pursuant to Directive 97/9/EC, or in the case where the operation of the investor compensation scheme is administered by a private company, the public authority supervising those schemes pursuant to that Directive.