Regulation 79 Amendment of the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

(1)

The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019^f1 are amended in accordance with this regulation.

(2)

In regulation 38 (Section 137R (financial promotion rules))—

(a)

in paragraph (2), for ““insurance distribution directive,””, substitute ““(as defined in section 71I(5)),””; and

(b)

in paragraph (4) in inserted subsection (5A)—

(i)

in paragraph (a)—

(aa)

in sub-paragraph (iv), omit “or”;

(bb)

in sub-paragraph (v), for “and”, substitute “or”; and

(cc)

after sub-paragraph (v), insert—

“(vi)
Article 44a of the recovery and resolution directive (as defined in paragraph (c)), and”

(ii)

after paragraph (b), insert—

“(c)
In paragraph (a)(vi), “recovery and resolution directive” means Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms, as it had effect immediately before IP completion day.”

Annotations

Footnotes

f1: S.I. 2019/632.