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TITLE IU.K. SUBJECT MATTER, SCOPE AND DEFINITIONS

Article 2U.K.Scope

1.This Directive applies to investment firms authorised and supervised under Directive 2014/65/EU.

[X12. By way of derogation from paragraph 1, Titles IV and V of this Directive do not apply to investment firms referred to in Article 1(2) and (5) of Regulation (EU) 2019/2033, which shall be supervised for compliance with prudential requirements under Titles VII and VIII of Directive 2013/36/EU in accordance with the second subparagraph of Article 1(2) and third subparagraph of Article 1(5) of Regulation (EU) 2019/2033.]