Q&A · ESMA
Ancillary activity excemption
Answered
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A firm whose commodity trading is no longer ancillary to its main business, based on the annual calculation done in the first quarter of the year, must apply for authorisation as an investment firm as soon as reasonably practicable.
Details
| Reference | ESMA_QA_1285 |
|---|---|
| Issuer | ESMA |
| Published | 23 Sept 2022 |
| Answered | 23 Sept 2022 |
| Submitted | 23 Sept 2022 |
| ESMA topics | Ancillary activity |
| Earlier Q&A document | ESMA70-872942901-36 Commodity derivatives, Ancillary activities, Q&A 7 |
Provisions it relates to
- Article 2 MiFID II · ExemptionsInferred · 90%
- MiFID II (whole act)Explicit reference