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FCA issues update on market share test under MiFID II ancillary activities exemption

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Published on: 14 March 2022

Published by LNB News

LNB News 14/03/2022

Document Information

Issue Date: 14 March 2022

Published Date: 14 March 2022

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Conduct Authority (FCA) has published an update on the ‘market share test’ under the UK MiFID II ancillary activities exemption, which enables firms trading in commodity derivatives, emission allowances and emission allowance derivatives to be exempt from MiFID investment firm authorisation if they fulfil certain criteria. Firms are currently required to perform the market share test as part of verifying that they fulfil these criteria, but the FCA plans to remove this test from the UK MiFID regime.

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