The UK Financial Conduct Authority reminded financial service firms that they may only carry on activities that require authorization under the Markets in Financial Instruments Directive II after January 3, 2018, if they have required permissions. To assure this, such firms should have applied for necessary authorizations or variations of existing permissions by July 3. If they did not do so by then, they should apply as quickly as possible. FCA commits to reviewing such applications within six months but “cannot guarantee” to do so by January 3. FCA encourages firms that have not yet applied for necessary authorizations to begin considering contingency plans.