MiFID II ancillary activity exemption - the procedure's summary




There are two tests for establishing whether an entity is eligible for the MiFID II ancillary activity exemption:


1. the market share test, and

2. the main business test.


Both tests need to be passed to keep the exemption, however, the main business test has two, alternative, options:


a) the trading test, and


b) the capital employed test.


There is also the backstop mechanism to correct the results.





Mifid2 ancillary exemption tests structure




Last Updated on Friday, 28 April 2017 22:22


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