The FCA has published a document containing MiFID II general guidance on the authorisation process, forms and prudential categories. Section 1 of the document provides guidance on applications for:
- authorisation as a MiFID investment firm made by a first-time applicant;
- variations of permission (VoP) by a non-MiFID firm seeking to become a MiFID investment firm; and
- VoPs by a firm that is already authorised as a MiFID investment firm.
The document contains tables listing the various forms required to each of these applications, the locations of those firms and an explanation of the purpose of the forms.
Section 2 of the document contains flowcharts intended to assist MiFID investment firms to determine the prudential categorisations that will apply to them, depending on the regulated activities that they perform and the nature of their businesses.
View FCA MiFID II guidance on authorisation process, forms and prudential categories, 3 January 2018