Euronext // 2021 Universal Registration Document
Presentation of the Group 1 Regulation
granted an authorisation to operate as a CSD in accordance with CSDR. Euronext Securities Oslo will start operating under the new authorisation as from 1 March 2022, from which point in time Euronext Securities Oslo has been subject to the Act of 15 March 2019 no. 6 on central securities depositories and Securities Settlement, etc. (the CSD Act) which implements CSDR in Norwegian law. In the period from the entering into effect of the CSD Act on 1 January 2020 and until the new authorisation was granted, Euronext Securities Oslo operated under the transitional provisions set out in Article 69 of the CSDR. Euronext Securities Oslo’s activities are subject to supervision and oversight by the Norwegian Financial Supervisory Authority and the Norwegian Central Bank. Portugal As a market operator, Euronext Lisbon is governed by Portuguese Decree of LawNo. 357-C/2007 of 31 October 2007 which, along with the Portuguese Securities Code and regulations of the Comissão do Mercado de Valores Mobiliários (“CMVM”), governs the regime applicable to regulated markets and MTFs, market operators and other companies with related activities in Portugal. The creation of regulated market operators requires the prior authorisation in the form of a decree-law from the Portuguese Minister of Finance, following consultation with the CMVM. As a CSD, Euronext Securities Porto is governed by the CSDR and the Portuguese CSD Legal Framework, approved by Law 35/2018 of 20 July, along with the Portuguese Securities Code, the regulations of the CMVM and Euronext Securities Porto self-regulation. Republic of Ireland The Irish Stock Exchange Plc trading as Euronext Dublin is authorised by the Central Bank of Ireland (“CBI”) as a market operator pursuant to Article 56 (2) of the European Union (Markets in Financial Instruments) Regulation 2017 (S.I. 375/2017). As a market operator, Euronext Dublin operates one regulated market and three MTFs and adopts rules for each of these markets to ensure fair and orderly trading and efficient order execution. In addition, Euronext Dublin has been appointed as the competent authority for listing by the Department of Enterprise, Trade and Employment pursuant to the European Communities (Admission to Listing and Miscellaneous Provisions) Regulations 2007, as amended. The CBI is responsible for the regulation and supervision of regulated markets and market operators authorised in Ireland. Euronext Dublin is required to meet various legislative and regulatory requirements and failure to comply with these requirements could subject it to enforcement action by the CBI including significant penalties and/or revocation of its authorisation as a market operator. United Kingdom The revocation of Euronext’s recognised investment exchange (“RIE”) activities in the United Kingdom was confirmed by the FCA with effect from 19 April 2021. Euronext Amsterdam, Euronext Paris and Borsa Italiana have been authorised under the Recognised Overseas Investment Exchange Regime (“ROIE”).
Euronext Clearing is a central counterparty authorised by CONSOB and the Bank of Italy to provide clearing services in compliance with EMIR, which provides clearing services across a broad range of trading venues and asset classes, including equities, derivatives, commodity derivatives and fixed income products. Euronext Clearing’s activities are subject to the direct supervision and oversight of the Italian NCAs, namely the Bank of Italy, with reference to the stability and the reduction of systemic risk, and by CONSOB, with respect to transparency and investor protection. In the fulfilment of their supervisory duties, the two authorities are supported by the College of Regulators established pursuant to EMIR article 19. The European Market Infrastructure Regulation (“EMIR”) has been transposed domestically into the Italian Consolidated Law on Finance (d. lgs. 58/1998) and further into CONSOB and Bank of Italy Joint Regulation on Post-Trading (Provvedimento Unico sul Post-Trading of 13August 2018). The Netherlands Both Euronext N.V. and Euronext Amsterdam have licences from the Dutch authorities to operate regulated markets. This means that they are subject to the regulation and supervision of the Dutch Minister of Finance and the Autoriteit Financiële Markten (“AFM”). Since the creation of Euronext in 2000, the Dutch regulators have taken the view that the direct parent company of Euronext Amsterdam, as controlling shareholder, should be seen as co- market operator and, accordingly, also requires a licence. Pursuant to Section 5:26 Paragraph 1 of the Dutch Financial Supervision Act it is prohibited in the Netherlands to operate or to manage a regulated market without a licence granted by the Dutch Minister of Finance. The Dutch Minister of Finance may, at any time, amend or revoke the licence if necessary, to ensure the proper functioning of the markets or the protection of investors. The licence may also be revoked for non-compliance with applicable rules. Norway Oslo Børs has a licence as a regulated market from the Norwegian Ministry of Finance pursuant to Section 11.1 of the Norwegian Securities Trading Act and operates two such regulated markets. In addition, Oslo Børs operates one MTF pursuant to Section 9.8 of the Norwegian Securities Trading Act. Oslo Børs adopts rules for each of these markets to ensure fair and orderly trading and efficient order execution. In addition, Oslo Børs has been appointed as take-over authority pursuant to Section 6.4 of the Norwegian Securities Trading Act. Oslo Børs has also delegated authority to supervise compliance with and to sanction violations of issuers’ obligation to disclose inside information pursuant to sections 5.2 and 5.3 of the Norwegian Securities Trading Act, cf. Section 17.1 of the Norwegian Securities Trading Regulation. The Norwegian Financial Supervisory Authority is responsible for the regulation and supervision of regulated markets and MTFs licensed in Norway. Euronext Securities Oslo is the only CSD in Norway and consequently holds a unique position in the Norwegian capital market. On 28 January 2022, Euronext Securities Oslo was
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2021 UNIVERSAL REGISTRATION DOCUMENT
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