Posted by A few weeks ago, Modena CEO Oliver Matt had already told me about the platform’s plans to pursue regulation in 2027. Now, the Estonia-based platform has also made a public announcement, confirming that it intends to apply for an investment firm license under MiFID II. The responsible regulator would be Estonia’s Financial Supervision Authority (FSA).
As for the timeline, Modena plans to submit the complete application in around two and a half months, meaning late December or early January. The platform then expects a six-month review period. This means a license could be granted as early as summer 2027, assuming the FSA approves the application.