Regulation 46 Information to clients

(1)

In Article 44—

(a)

omit the sub-heading in brackets;

(b)

in paragraph 4(e), for “that of the Member State in which the retail client or potential retail client is resident” substitute “pounds sterling”.

(2)

In Article 45—

(a)

omit the sub-heading in brackets;

(b)

in paragraph 1, for “Directive 2014/65/EU” substitute “UK law on markets in financial instruments”;

(c)

in paragraph 3—

(i)

in point (a), for “Article 30(2) of Directive 2014/65/EU” substitute “rule 3.6.2 of the Conduct of Business sourcebook”;

(ii)

in point (b), for “Section I of Annex II to Directive 2014/65/EU” substitute “Part 2 of Schedule 1 to Regulation (EU) No 600/2014”.

(3)

In Article 46, omit the sub-heading in brackets.

(4)

In Article 47—

(a)

omit the sub-heading in brackets;

(b)

in paragraph 1—

(i)

in point (e), omit “specifying the Member State in which that agent is registered”;

(ii)

in point (f), for “Article 25(6) of Directive 2014/65/EU” substitute “rules 9A.3.2 and 16A.2.1 of the Conduct of Business sourcebook”;

(iii)

in point (g), for “a Member State” substitute “the United Kingdom”.

(5)

In Article 48—

(a)

omit the sub-heading in brackets;

(b)

in paragraph 3, for “Directive 2003/71/EC” substitute “the law of the United Kingdom which was relied on by the United Kingdom immediately before exit day to implement Directive 2003/71/EC, as that law is amended from time to time”.

(6)

In Article 49—

(a)

omit the sub-heading in brackets;

(b)

in paragraph 5, for “a Member State” substitute “the United Kingdom”.

(7)

In Article 50—

(a)

omit the sub-heading in brackets;

(b)

in paragraph 1—

(i)

in the first subparagraph, for “Article 24(4) of Directive 2014/65/EU” substitute “rule 6.1ZA.11 of the Conduct of Business sourcebook (“the relevant rule”)”;

(ii)

in the second and third subparagraphs, for “Article 24(4) of Directive 2014/65/EU” substitute “the relevant rule”;

(c)

in paragraph 5(b), omit “in accordance with relevant Union legislation”;

(d)

in paragraph 6, omit “in accordance with relevant Union legislation”.

(8)

In Article 51—

(a)

in the heading, for “in accordance with Directive 2009/65/EU and Regulation (EU) No 1286/2014” substitute “in relation to units in collective investment undertakings or PRIIPs”;

(b)

omit the sub-heading in brackets.