Regulation 32 Withdrawal or suspension of authorisation or registration

(1)

Article 35 (withdrawal or suspension of authorisation or registration) is amended as follows.

(2)

In paragraph 1, for “A competent authority” substitute “The FCA”.

(3)

In paragraph 2—

(a)

omit the first subparagraph;

(b)

in the second subparagraph—

(i)

for “ESMA” substitute “The FCA”;

(ii)

for “register provided for in Article 36” substitute “FCA register”.

(4)

in paragraph 3—

(i)

for “delegated act adopted” substitute “2018 Delegated Regulation or regulations made by the Treasury”;

(ii)

for “relevant competent authority of the Member State where the administrator is located” substitute “FCA”.

(5)

After paragraph 4 insert—

“5.

In paragraph 3, the “2018 Delegated Regulation” means Commission Delegated Regulation (EU) 2018/67 of 3 October 2017 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council with regard to the establishment of the conditions to assess the impact resulting from the cessation of or change to existing benchmarks.”.