Paragraph 22

in Article 1, for the words from “considered” to the end, substitute—

“considered—

(a)

to be equivalent to the requirements for UK regulated markets as defined in Regulation (EU) 600/2014, resulting from—

(i)

Regulation (EU) 596/2014;

(ii)

Title II of Regulation (EU) 600/2014; and

(iii)

the law of the United Kingdom which was relied on by the United Kingdom immediately before exit day to implement Title III of Directive 2014/65/EU and Directive 2004/109/EC, and

(b)

to be subject to effective supervision and enforcement.”;

in the Annex to the Decision, for “regulated markets as defined in Directive 2014/65/EU”, both times it appears, substitute “UK regulated markets as defined in Regulation (EU) 600/2014”.

Commission Implementing Decision (EU) 2017/2318 of 13 December 2017 on the equivalence of the legal and supervisory framework in Australia applicable to financial markets in accordance with Directive 2014/65/EU of the European Parliament and of the Council;

Commission Implementing Decision (EU) 2017/2319 of 13 December 2017 on the equivalence of the legal and supervisory framework applicable to recognised exchange companies in Hong Kong Special Administrative Region in accordance with Directive 2014/65/EU of the European Parliament and of the Council.