Paragraph 12

In section 194 (general grounds on which power of intervention is exercisable), after subsection (4) insert—

“(5)

The FCA may exercise its power of intervention in respect of an EEA AIFM if it appears to the FCA that the EEA AIFM has contravened, or is likely to contravene, a requirement imposed by—

(a)

the Alternative Investment Fund Managers Regulations 2013; or

(b)

any directly applicable EU regulation made under the alternative investment fund managers directive.”.