The FCA has updated its webpage on data reporting services providers (DRSPs). Among other things, the FCA notes that it is now able to accept formal applications from entities wishing to provide data reporting services (DRSs). For applications received from 3 July 2017, it will determine an application for authorisation or verification within six months, beginning from the date on which it receives the completed application. With one exception, any entity wishing to provide the service of a non-equity consolidated tape provider from 3 September 2019 should apply for authorisation by 3 March 2019.
The webpage now contains a list of all the DRSP authorisation and supervision forms. While the application form to provide the service of a DRSP and the notification form for the list of members of a management body have already been published, the FCA notes that the remaining forms will be available from Q4 2017.
The FCA also confirms that the authorisation fee to operate a DRS is £5,000 for the first application and a discount of 50% for each additional DRS application. The discount applies whether the applications were made at the same time or later. The fee is not refundable, even if the application is unsuccessful.
View FCA updates webpage on data reporting services providers under MiFID II, 17 July 2017