Q&A · ESMA
MiFID II Q&A on the Ancillary Activity Exemption
Answered
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In a Commission answer, a person whose main business is executing client orders in C6 carve-out wholesale energy products traded on an OTF cannot use the ancillary-activity exemption, because the main business must be a commercial activity involving commodities; it needs authorisation to provide investment services in commodity derivatives.
Details
| Reference | ESMA_QA_900 |
|---|---|
| Issuer | ESMA |
| Published | 5 Mar 2024 |
| Answered | 5 Mar 2024 |
| Submitted | 11 May 2023 |
| ESMA topics | Ancillary activity |
Provisions it relates to
- Article 2 MiFID II · ExemptionsExplicit reference · 90%
- MiFID II (whole act)Explicit reference