Regulatory Alerts2026-04-26
Added
Order of the Act on Securities Firms and Investment Services and Activities
This order consolidates the Act on Securities Firms and Investment Services and Activities, incorporating amendments from June and December 2025 while explicitly excluding changes scheduled to take effect in 2026, 2029, and 2030. It establishes the scope of application for securities firms, credit institutions, investment firms, and third-country entities, defining specific regulatory requirements for small unconnected firms, subsidiaries in third countries, and outsourcing arrangements. The text provides detailed definitions for key terms including solvency needs, capital requirements, and consolidated situations, and outlines the specific sections of the law applicable to various financial entities and cross-border services.
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