Publié le 17 juillet 2026
Communiqué

Note d’information de l’ESMA sur la supervision du passeport triangulaire dans le cadre de la MiFID II (uniquement en anglais)

On 7 July 2026, ESMA published its Supervisory briefing on triangular Passporting (Supervisory Briefing on triangular passporting).

Triangular Passporting is the practice by which an entity authorised as an investment firm, under MiFID II, uses a branch or tied agent established through the freedom of establishment (in accordance with Article 35 MiFID II) in a host Member State (Member State B) to provide investment services in accordance with the freedom to provide investment services and activities (in accordance with Article 34 MiFID II) in another host Member State (Member State C).

This supervisory briefing sets out ESMA’s and National Competent Authorities’ common understanding on the supervision of firms providing investment services via Triangular Passporting under MiFID II.

This supervisory briefing covers the following supervisory expectations:

  • firms’ responsibilities;
  • supervisory competences;
  • general information to clients;
  • client access to alternative dispute resolution mechanisms and compensation schemes.