FIN.

FCA warns over MiFID 2 deadlines

FCA is pleased that it has received and determined several applications under MiFID 2 already. However, it is also concerned that it has notified many applicants that their applications are incomplete, and that there are certain sectors of the market, in particular proprietary traders using DEA who may need to apply for authorisation but have not yet done so.

It urges all potentially affected firms, whether currently authorised or not, to check what applications they may need to make, and make them (or complete them) urgently. These firms should also have contingency plans in place, in case FCA has not been able to process their applications before 3 January 2018.

Emma Radmore