Find out how to submit a notification to us if your firm wants to sell or advise on structured deposits from 3 January 2018.
MiFID II applies a number of requirements on investment firms and credit institutions when they sell or advise on structured deposits. As a result, a new investment type for structured deposits has been created. Firms that carry out specific regulated activities in relation to structured deposits were required to add this investment type to their permissions ahead of 3 January 2018.
If you would now like to add structured deposits to any of the permissions below, and you held them prior to 3 January 2018 then you can submit a free notification to do so. The deadline to submit the notification is 31 March 2018.
The permissions are:
- dealing in investments as agent
- arranging deals in investments
- making arrangements with a view to transactions in investments
- managing investments
- advising on investments
If you do not currently hold these permissions or did not hold them prior to 3 January 2018, but wish to carry out one or more of the regulated activities above in relation to structured deposits, you will need to submit a variation of permission application instead.
Notifying us about structured deposits
If you want to add the investment type of structured deposits to any or all of the above regulated activities (and you already have the relevant permissions) you should:
- Download and complete the MiFID II structured deposits form below
- Download MiFID II structured deposits form (DOC)
- Save it as a Word document (PDFs will not be accepted).
- Email it to [email protected] by 31 March 2018.
We will aim to process your notification within 10 working days of receipt. If you do not submit a notification to us by this date, you will need to submit a variation of permission application instead.
If you are a dual-regulated firm, you will need to send your structured deposits notification directly to the Prudential Regulation Authority (PRA). You can use the notification form and instructions on how to submit it the form.
Structured deposits and appointed representatives
If you either have an appointed representative (AR) that wishes to now sell or advise on structured deposits, or you wish to add an AR who does this then you need to submit an Add or Change AR form via Connect.
If you engage in the activities listed above as a result of insurance mediation only and wish to notify us of any AR structured deposit activities, please contact us to submit a paper Add AR or Change AR notification.