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FCA issues exemption notification guide

The UK’s Financial Conduct Authority has issued a short guide on how market participants can notify them that they intend to make use of the Ancillary Activity exemption as specified in MiFID II Article 2(1)j. The document can be found here.

Before establishing whether an exemption can be notified, market participants must pass the Ancillary Activity test, as outlined in RTS 20 (see here). Those under the jurisdiction of other National Competent Authorities will need to use a different notification mechanism.

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.


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