An investment firm shall be exempted from the requirements set out in the second to fifth subparagraphs of Article 16(3) and in Article 24(2), where the investment service it provides relates to bonds with no other embedded derivative than a make-whole clause or where the financial instruments are marketed or distributed exclusively to eligible counterparties.
Version status: Inserted | Document consolidation status: Updated to reflect all known changes
Version date: 27 February 2021 - onwards
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