Art. 34 of MiFID II Art. 35 of MiFID II
Can firms established in EU Member States that have not transposed MiFID II at the date of 3 January 2018, and that already have a valid authorisation and a passport, continue to provide investment services in other EU Member States after the entry into application of MiFID II?
Answer 3
Firms established in Member States that have not transposed MiFID II by 3 January 2018 but have been already authorised under MiFID I and have already made a valid passport notification, may continue to provide investment services in the Member States for which they have already made a valid passport notification, provided that, depending on the case, the following conditions are met:
- Where the firm provides investment services through a branch, the branch complies with host Member State rules implementing Articles 24, 25, 27 and 28 of MiFID II and Articles 14 to 26 of MiFIR; and
- Where the firm provides investment services under the freedom to provide services,