15In addition, the Commission submits that the MiFID II Directive introduced new provisions as compared with those set out in Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments amending Council Directives 85/611/EEC and 93/6/EEC and Directive 2000/12/EC of the European Parliament and of the Council and repealing Council Directive 93/22/EEC (OJ 2004 L 145, p. 1), which was transposed by the measures communicated on 3 December 2018, in order to regulate new trading venues and trading activities which had developed and which did not come within the scope of Directive 2004/39 and were not, therefore, regulated. By the MiFID II Directive and Regulation No 600/2014, the EU legislature established a new, more reliable regulatory framework for dealing with the growing complexity of the market, characterised by an increasing range of financial instruments and new trading methods.
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