Art. 15 — Initial capital endowment

MiFID II Article 15 — Initial capital endowment. Directive 2014/65/EU, Chapter II — Authorisation and operating conditions for investment firms.

Member States shall ensure that the competent authorities do not grant authorisation unless the investment firm has sufficient initial capital in accordance with the requirements of Article 9 of Directive (EU) 2019/2034 of the European Parliament and of the Council, having regard to the nature of the investment service or activity in question.