FCA publishes MiFID 2 application guide

FCA has published an application and notification user guide on MiFID 2. The guide deals with applications for new authorisation as investment firms or data reporting providers, recognition of investment exchanges, Variation of Permission (VoPs) and change of legal status. It also deals with notifications to provide regulatory information to FCA by FCA regulated firms, recognised investment exchanges and others, including passporting notifications. There will be major changes to the forms required for authorisation of investment firms. FCA will be using new forms for most authorisations and VoPs involving investment services and activities from 30 January 2017. Passporting forms are also changing, with one service passport notification for investment firms being required for each country in which they intend to provide cross-border services to.  To deliver a smooth process, FCA will allow for authorisations and VoPs to begin on 30 January 2017 and passport notifications from 31 July 2017. Notifications of cross-border passports must be submitted to FCA by 2 December 2017. Completed applications for authorisation of investment firms and DRSPs or VoPs must be submitted by 3 July 2017.



Emma Radmore