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Ordinary legislative procedure First reading

Amending Directive 2014/65/EU on markets in financial instruments

A proposed EU law. Parliament and the Council must agree on the same text: Parliament adopts its position, then negotiates with the Council.

Where it stands: Completed: published in the Official Journal on 8 March 2024 and now EU law.

  1. ✓ Referred to committee 27 January 2022
  2. ✓ Committee work Report adopted 1 March 2023
  3. ✓ Tabled for plenary 2 March 2023
  4. ✓ Negotiations with the Council Deal approved in committee 24 October 2023
  5. ✓ Plenary vote Adopted 16 January 2024
  6. ✓ Published as law 8 March 2024
How a file moves through Parliament

A file is referred to one lead committee (others may give an opinion). Its rapporteur writes a draft report, committee members table amendments, and the committee votes to adopt the report. The report is then tabled for all MEPs; political groups can table further amendments, which are voted on before the final vote in plenary. For a law, Parliament’s adopted text is its first-reading position; Parliament and the Council then negotiate a common text (trilogues) which both must approve before it is published as law.

Who is working on it

Lead committee
ECON — Economic and Monetary Affairs
Rapporteur
MEP #96779 PPE
Shadow rapporteurs
MEP #132191 IDEero HEINÄLUOMA S&DMEP #197437 RenewMEP #96868 Verts/ALEMEP #88715 The LeftJohan VAN OVERTVELDT ECR

The rapporteur drafts and negotiates the text for the lead committee; each other political group names a shadow rapporteur to follow the file.

The text, version by version

Adopted by Parliament · latest Adopted text TA9-0003/2024 16 January 2024 ✦ Parliament's position on amending the Markets in Financial Instruments Directive (MiFID II) sets out its first-reading stance on the Commission's proposal.⇄ what changed Tabled for plenary Report A9-0039/2023 2 March 2023 ✦ Parliament's amended version of the Commission proposal to amend Directive 2014/65/EU on markets in financial instruments. It moves multilateral systems and the definition of multilateral system into Regulation (EU) No 600/2014, and limits the systematic internaliser regime to firms meeting qualitative criteria or opting in.⇄ what changed Committee draft Draft report (ECON) 19 July 2022 ✦ The rapporteur's draft report sets out Parliament's first-reading position on a directive amending Directive 2014/65/EU on markets in financial instruments.

Newest version first. Open a version to read it in full. “What changed” shows the differences paragraph by paragraph; ✦ lines are AI-written from the texts themselves.

Timeline

  1. Outcome
  2. 8 March 2024 Published in the Official Journal

    The act is now EU law.

  3. 28 February 2024 Signed by the Presidents of Parliament and the Council

    The last step before the act is published in the Official Journal.

  4. Plenary stage
  5. 16 January 2024 Plenary vote
    Sitting of 16 January 2024 📄 Adopted text TA9-0003/2024📄 Report A9-0039/2023
    Adopted Adopted by an overwhelming majority
    For 521 Against 19 Abstained 57

    Final vote on the provisional agreement at 12:04 · 87% of votes cast in favour · every MEP’s position →

  6. Negotiations with the Council
  7. 24 October 2023 Committee approved the deal reached with the Council

    The provisional agreement from the trilogues goes to the whole Parliament for a vote.

    📄 ECON-AG-754881
  8. 15 March 2023 Plenary endorsed the mandate to negotiate with the Council

    Parliament’s negotiators can now seek a compromise text with the Council (in “trilogues”).

  9. Plenary stage
  10. 2 March 2023 Report tabled for plenary

    This is the text all MEPs vote on. Political groups can still table amendments to it.

    📄 Report A9-0039/2023
  11. Committee stage
  12. 1 March 2023 Committee vote: report adopted

    ECON (Economic and Monetary Affairs) voted on the amendments and adopted the report that goes to plenary.

  13. 19 July 2022 Draft report published

    The rapporteur’s first text in ECON (Economic and Monetary Affairs). Members can table amendments before the committee votes.

    📄 Draft report (ECON)
  14. 27 January 2022 Referred to the ECON (Economic and Monetary Affairs) committee

    The lead committee prepares Parliament’s report.