ESMA_QA_1666
18/12/2017
Subject Matter
Application of MiFID II after 3 January 2018, including issues of ‘late transposition’
    Should authorisations as a regulated market granted under MiFID I still be valid after 3 January 2018?
    ESMA Answer
    18-12-2017

      [ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 7.1]

      Yes, the authorisations granted under MiFID I should continue to be valid after 3 January 2018. This applies also to the authorisations for market operators to operate an MTF. However, ESMA notes that competent authorities, as set out in Article 44 of MiFID II (and, already, Article 36 of MiFID I), should monitor that market operators comply at all times with the conditions for initial authorisation and therefore regularly review conditions for initial authorisation.

      Status: Answer Published

      Additional Information

      Level 1 Regulation
      Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
      Topic
      Multilateral and bilateral systems