With the entry into force of the European Markets in Financial Instruments Directive II (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR), the Federal Financial Supervisory Authority (Bundesanstalt für FinanzdienstleistungsaufsichtBaFin) will assume new duties in relation to the authorisation and supervision of data reporting services providers from 3 January 2018. However, since BaFin cannot accept or process formal applications for authorisation until after the entry into force of the legal provisions governing competence, in other words as soon as the German Banking Act (KreditwesengesetzKWG) has been amended by the 2nd FiMaNoG, BaFin has announced the following on 28 February 2017:

In order to allow a smooth transitional period for companies which wish to operate as data reporting services providers from 3 January 2018, the KWG will likely contain transitional provisions which provide for notional authorisation for these companies, provided the latter submit a complete application for authorisation by 2 July 2018. BaFin will, however, accept and preliminarily assess draft applications from 1 March 2017 . The forms found in Annex I and II of the draft Implementing Technical Standard (ITS 3) should be used for this.

The Regulatory Technical Standard (RTS 13) includes information on the documentation to be submitted with the draft application.

Draft applications can be sent to the following addresses by e-mail: Datenbereitstellungsdienste@bafin.de