Firms Must Hurry To Seek MiFID II Authorization, FCA Warns

By Paige Long (September 18, 2017, 1:13 PM BST) -- Britain's finance watchdog on Monday warned firms hit by wide-ranging EU market reforms due to enter into force in less than four months that they need to take "immediate action" and file all outstanding applications for authorization.

The Financial Conduct Authority said businesses had made "good progress" in seeking authorization in line with the looming directive since it last issued a warning to firms that had missed a July deadline. The authority said at the time that it could not guarantee that it would process applications in time for 3 January 2018, when MiFID II is implemented.

The regulator said it...

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