IRELAND: Central Bank publishes MiFID Application Form and Guidance Note

Thursday January 9 2014

Further to the update of 8th January 2014, the Central Bank of Ireland has now published a new application form for authorisation under Regulation 11 of the European Communities (Markets In Financial Instruments) Regulations 2007 and Commission Regulation (EC) No. 1287/2006 of 10 August 2006.

A Guidance Note on applying for authorisation as an investment firm in Ireland has also been published. The Central Bank is welcoming applications where the proposed investment firm can meet the legislative requirements relating to investment firms and all other current requirements.

The new application pack has been published as part of a new process launched by the Central Bank designed to make the authorisation process for investment firms more efficient and timely. Depending on the Central Bank`s determination of the complexity of their business models, applicant investment firms will be streamed along two tracks with the aim that simpler applications will be processed within three months and more complex applications will be processed within six months. Within both streams, there are various checkpoints and timing deadlines for the exchange of correspondence.

The applicant must submit one hard copy and one soft copy of its application pack to the Central Bank. The soft copy must be submitted to iffsauthorisation@centralbank.ie.

Click here for the application form.

Click on the above link for the Guidance Note.