Until 31 December 2012, for investment firms the relevant indicator for the trading and sales business line of which represents at least 50% of the total of relevant indicators for all of their business lines calculated in accordance with Article 20 of this Directive and points 1 to 4 of Part 2 of Annex X to Directive 2006/48/EC, Member States may apply a percentage of 15% to the business line 'trading and sales'.
Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2014 - onwards
Article 44
Repealed from 1 January 2014