On October 16, the UK Financial Conduct Authority (FCA) reminded firms via email of changes to the process for the submission of passporting notifications under the Markets in Financial Instruments Directive (MiFID I) and the revised Markets in Financial Instruments Directive (MiFID II).

Firms wishing to passport activities under MiFID I (in relation to existing business to be passported prior to January 3, 2018, when MiFID II goes into effect), can continue to submit passport notifications as normal via Connect until December 3, 2017.

From December 4, firms can continue to submit MiFID passport notifications on Connect, but the system will reflect the MiFID II framework. This will mean, for example, that firms must submit one passport notification for each country in which they intend to provide cross-border services. However, it will not be possible to select MiFID II specific passport activities on Connect until January 3.

More information is available here.