EU · MiFID II · TITLE II AUTHORISATION AND OPERATING CONDITIONS FOR INVESTMENT FIRMS · CHAPTER IV Provision of investment services and activities by third country firms · Section 1 Provision of services or performance of activities through the establishment of a branch

Article 41 MiFID IIGranting of the authorisation

In force

Read the official text on EUR-Lex(opens in a new tab)

AI-generated What this provision does

A third-country branch is authorised only if the Article 39 conditions are met and it can comply with the applicable rules, with a decision within six months. Authorised branches must follow key MiFID II organisational and conduct rules and MiFIR transparency and reporting, are supervised by the host authority, may not be treated more favourably than EU firms, and must report annually on their activities, exposures, turnover, investor protection, risk management and governance; ESMA publishes a list of branches.

Amendments and application dates

Amending act	Change	Applies from
Directive (EU) 2019/2034	Text amended; Provision replaced	by 26 Jun 2021

Level 2: delegated and implementing acts

ITSIn forceLegal basis
Commission Implementing Regulation (EU) 2022/1220 of 14 July 2022 laying down implementing technical standards for the application of Directive 2014/65/EU of the European Parliament and of the Council with regard to the format in which branches of third-country firms and competent authorities have to report the information referred to in Article 41(3) and (4) of that Directive
European Commission · 15 Jul 2022 · EUR-Lex
AI summaryITS setting the format in which branches of third-country firms report annually to their competent authority under Article 41(3) MiFID II (services, turnover, clients, investor protection and capital information), and in which authorities pass that information to ESMA on request.

Level 3: ESMA Q&As, guidelines and opinions

Q&ALegacy Q&A documentESMA rulebook
ESMA70-872942901-38: Questions and Answers On MiFID II and MiFIR market structure topics
ESMA · the ESMA website
AI summaryESMA's consolidated legacy Q&A document (ESMA70-872942901-38, final version 13 October 2023) on market structure topics, covering data disaggregation, direct electronic access and algorithmic trading, the tick size regime, multilateral and bilateral systems (including OTFs and systematic internalisers) and access to CCPs and trading venues. It is no longer updated; later Q&As are in ESMA's Q&A tool.

Commentary

No law-firm commentary is linked to this provision yet.

393 more documents relate to MiFID II as a whole without naming an article.

UK counterpart

DivergedExplicit reference · 90%
EU changes after exit: Directive (EU) 2019/2034 (by 26 Jun 2021).
- PROD 1.3.1R General: Who? What?
- DISP 1.1A.4G Application: Who? What?

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Version history

From 26 Jun 2021
From 17 Sept 2014 to 26 Jun 2021

Each entry is a consolidated version of the act on EUR-Lex in which this provision appears. The text itself is on the official site.