SUP TP 9 Transitional Provisions in relation to the MiFID Regulation

19.1

Continuing obligations under the MiFID Regulation

9.1.1

R

(1)

If the condition in (2) is met, SUP TP 9 applies in respect of an obligation or requirement in, or under, the following with which a firm must comply:

(a)

the MiFID Regulation; or

(b)

a rule under SUP 17 (Transaction reporting).

(2)

As at 2 January 2018, a firm is under an obligation or requirement to comply, or to have complied, with a provision referred to in (1) in the version in force on that date.

9.1.2

R

A firm remains obliged to comply with the obligation, requirement or rule referred to in SUP TP 9.1.1R(1)(a) and (b) until such time as effective compliance is achieved.

9.1.3

R

SUP 15 (Notifications to the FCA) continues to apply in respect of a breach of a requirement or a rule referred to in SUP TP 9.1.1R.

Purpose

9.1.4

G

The purpose of SUP TP 9.1.1R is to ensure that, as appropriate, firms:

(1)

comply with the provisions of the MiFID Regulation and SUP 17 (as at 2 January 2018); and

(2)

notify and remedy breaches of these provisions whenever those breaches come to light,

notwithstanding the repeal of the MiFID Regulation on 3 January 2018.