Regulation 9 The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018

(1)

The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018^f1 are amended as follows.

(2)

In regulation 28(10)—

(a)

in sub-paragraph (a)—

(i)

after “in paragraph 1”, insert—

“—

(i)
before ‘systematic internaliser’, insert ‘UK’;”

(ii)

renumber the words from “for” to the end of the sub-paragraph as paragraph (ii);

(b)

after sub-paragraph (a), insert—

“(aa)
after paragraph 1, insert—

“1A.

For the purposes of paragraph 1, a ‘UK systematic internaliser’ is a systematic internaliser which—

(a)
has its head office in the United Kingdom, or

(b)
operates through a branch in the United Kingdom.””

(3)

In regulation 51—

(a)

in paragraph (1), for sub-paragraph (c), substitute—

“(c)
in paragraph 2—

(i)
for “Article 4(1)(13) of Directive 2014/65/EU” substitute “regulation 2(1) of the Markets in Financial Instruments Regulation 2017”;

(ii)
for “Union” substitute “United Kingdom”.”;

(b)

in paragraph (2)(c), after paragraph (iii), insert—

“(iv)
in the second subparagraph, for “competent authority” substitute “FCA”;”.

Annotations

Footnotes

f1: S.I. 2018/1403.