Passporting under MiFID II

Find out how your firm can apply for a passport under MiFID II and the important deadlines you need to know about.

You will need to make a passporting application under MiFID II if your firm:

  • will be conducting activities that have been implemented as new MiFID II activities (such as operating an organised trading facility, activities relating to emission allowances or binary bets)
  • will become newly authorised under MiFID II and needs to passport from 3 January 2018

If you have submitted a MiFID II authorisation or Variation of Permission application, we recommend that you start preparing your MiFID II passport notifications relating to the activities you have applied for as soon as possible using the forms on this page. Please speak to the case officer handling your authorisation or Variation of Permission application to find out more about the process for submitting your completed MiFID II passport notifications.

During the MiFID II transition period all MiFID II passport notifications should be sent to: [email protected], except for RIEs who should email the forms to their named supervisor.

Timelines for submission of passporting applications

Under the MiFID II framework, there is a delay between the date you submit a passporting notification and the date that the passport takes effect. To ensure your passports take effect from 3 January 2018, we strongly recommend the following:

Cross-border service passport notifications

Whenever possible, you should submit service passport notifications by 3 December 2017: this deadline will help us assess notifications and send them to relevant regulators in the European Economic Area (EEA) before MiFID II takes effect on 3 January 2018.

For all notifications received after 3 December 2017 it will not be possible to guarantee that the relevant notifications will be issued to the regulators concerned before 3 January 2018.

Establishment passport notifications

You should submit establishment passport notifications as early as possible after the MiFID II passporting gateway opens on 31 July 2017. MiFID II gives home competent authorities a 3 month window to assess establishment notifications. After the notification has been assessed by the home competent authority and communicated to the host competent authority, there is a maximum of 2 months before the passport becomes effective.

Connect

UK authorised firms wishing to passport activities under MiFID I will be able to submit passport notifications through Connect until 3 December 2017.

From 4 December 2017, all MiFID passport notifications will have to be submitted under the MiFID II legal framework. From this date, MiFID passporting notifications should be made through Connect.

For further information please refer to the MiFID II application and notification user guide.

MiFID II passporting application forms

  1. Service passport (PDF): MiFID II notice of intention to provide cross-border services or to amend existing cross-border services passport
  2. Branch passport (PDF): MiFID II notice of intention to establish a branch or change branch particulars:
  3. Tied agent notification (PDF): MiFID II notice of intention to use a tied agent established in another EEA state or amend EEA tied agent details
  4. MTF/OTF notification (PDF): MiFID II notice of intention to provide arrangements to facilitate the access to an MTF or an OTF from another EEA State or to amend details of these arrangements

Completed forms should be sent to: [email protected]