EU · MiFID II · TITLE II AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS · CHAPTER I Conditions and procedures for authorisation

Article 7 MiFID IIProcedures for granting and refusing requests for authorisation

In force

Read the official text on EUR-Lex(opens in a new tab)

AI-generated What this provision does

Authorisation may be granted only once the competent authority is fully satisfied that the applicant meets all requirements, based on information including a programme of operations; applicants must be told the outcome within six months of a complete application. Mandates ESMA standards on the information required, management body and qualifying shareholders, and standard application forms.

Level 2: delegated and implementing acts

RTSIn forceLegal basis
Commission Delegated Regulation (EU) 2017/1943 of 14 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards on information and requirements for the authorisation of investment firms
European Commission · 26 Oct 2017 · EUR-Lex
AI summaryRTS listing the information applicants must give competent authorities to be authorised as investment firms (corporate documents, capital, shareholders with qualifying holdings, management body, financial information, programme of operations and organisation), and requirements for firms managed by a single natural person.
ITSIn forceLegal basis
Commission Implementing Regulation (EU) 2017/1945 of 19 June 2017 laying down implementing technical standards with regard to notifications by and to applicant and authorised investment firms according to Directive 2014/65/EU of the European Parliament and of the Council
European Commission · 26 Oct 2017 · EUR-Lex
AI summaryITS setting the procedures and forms for applying for authorisation as an investment firm, acknowledgement and requests for further information, notification of changes to the management body, and communication of the authorisation decision.

Level 3: ESMA Q&As, guidelines and opinions

Q&ALegacy Q&A documentESMA rulebook
ESMA70-872942901-38: Questions and Answers On MiFID II and MiFIR market structure topics
ESMA · the ESMA website
AI summaryESMA's consolidated legacy Q&A document (ESMA70-872942901-38, final version 13 October 2023) on market structure topics, covering data disaggregation, direct electronic access and algorithmic trading, the tick size regime, multilateral and bilateral systems (including OTFs and systematic internalisers) and access to CCPs and trading venues. It is no longer updated; later Q&As are in ESMA's Q&A tool.

Commentary

No law-firm commentary is linked to this provision yet.

393 more documents relate to MiFID II as a whole without naming an article.

UK counterpart

UK transposition not traced in the FCA Handbook. It may sit in FSMA, the Regulated Activities Order or SI 2017/701, which are not yet mapped.

Version history

From 17 Sept 2014

Each entry is a consolidated version of the act on EUR-Lex in which this provision appears. The text itself is on the official site.