Q&A · ESMA
Authorisation for dealing in commodity derivatives
Answered
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The ancillary-activity exemption in Article 2(1)(j) MiFID II applies only where the group's main business, taken as a whole, is not investment services or banking, so every entity in a financial group that deals in commodity derivatives must be authorised as an investment firm.
Details
| Reference | ESMA_QA_1522 |
|---|---|
| Issuer | ESMA |
| Published | 19 Dec 2016 |
| Answered | 19 Dec 2016 |
| Submitted | 19 Dec 2016 |
| ESMA topics | Ancillary activity |
| Earlier Q&A document | ESMA 70-872942901-36 Commodity derivatives Q&A, Q&A 3.1 |
Provisions it relates to
- Article 2 MiFID II · ExemptionsInferred · 90%
- MiFID II (whole act)Explicit reference