Updated 07/09/2024
In force

Version from: 28/03/2024
Amendments (1)
There is currently no Level 2 legal act based on or specifying Article 8.
QA1667 - Access to CCPs and trading venues
Status: Final
Answered: 18/12/2017
Art. 8
QA1666 - Multilateral and bilateral systems
Status: Final
Answered: 18/12/2017
Art. 8
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MiFID II ToolMarkets in Financial Instruments Directive (MiFID II)
Article 8

Article 8 - Withdrawal of authorisations

Article 8

Withdrawal of authorisations

The competent authority may withdraw the authorisation issued to an investment firm where such an investment firm:

(a) 

does not make use of the authorisation within 12 months, expressly renounces the authorisation or has provided no investment services or performed no investment activity for the preceding six months, unless the Member State concerned has provided for authorisation to lapse in such cases;

(b) 

has obtained the authorisation by making false statements or by any other irregular means;

(c) 

no longer meets the conditions under which authorisation was granted, such as compliance with the conditions set out in Regulation (EU) 2019/2033 of the European Parliament and of the Council ( 10 );

(d) 

has seriously and systematically infringed the provisions adopted pursuant to this Directive or Regulation (EU) No 600/2014 governing the operating conditions for investment firms;

(e) 

falls within any of the cases where national law, in respect of matters outside the scope of this Directive, provides for withdrawal.

Every withdrawal of authorisation shall be notified to ESMA.

( 10 ) Regulation (EU) 2019/2033 of the European Parliament and of the Council of 27 November 2019 on the prudential requirements of investment firms and amending Regulations (EU) No 1093/2010, (EU) No 575/2013, (EU) No 600/2014 and (EU) No 806/2014 (OJ L 314, 5.12.2019, p. 1).