{
  "url": "https://openlegislation.uk/draft-markets-in-financial-instruments-amendment-eu-exit-regulations-2018/regulation-46",
  "json_url": "https://openlegislation.uk/draft-markets-in-financial-instruments-amendment-eu-exit-regulations-2018/regulation-46.json",
  "legislation": "ukdsi/2018/9780111173480",
  "legislation_title": "The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/draft-markets-in-financial-instruments-amendment-eu-exit-regulations-2018",
  "path": "regulation/46",
  "kind": "regulation",
  "number": "46",
  "heading": "Information to clients",
  "text": "(1) In Article 44—\n(a) omit the sub-heading in brackets;\n(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”.\n(2) In Article 45—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1, for “Directive 2014/65/EU” substitute “UK law on markets in financial instruments”;\n(c) in paragraph 3—\n(i) in point (a), for “Article 30(2) of Directive 2014/65/EU” substitute “rule 3.6.2 of the Conduct of Business sourcebook”;\n(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”.\n(3) In Article 46, omit the sub-heading in brackets.\n(4) In Article 47—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1—\n(i) in point (e), omit “specifying the Member State in which that agent is registered”;\n(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”;\n(iii) in point (g), for “a Member State” substitute “the United Kingdom”.\n(5) In Article 48—\n(a) omit the sub-heading in brackets;\n(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”.\n(6) In Article 49—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 5, for “a Member State” substitute “the United Kingdom”.\n(7) In Article 50—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1—\n(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”)”;\n(ii) in the second and third subparagraphs, for “Article 24(4) of Directive 2014/65/EU” substitute “the relevant rule”;\n(c) in paragraph 5(b), omit “in accordance with relevant Union legislation”;\n(d) in paragraph 6, omit “in accordance with relevant Union legislation”.\n(8) In Article 51—\n(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”;\n(b) omit the sub-heading in brackets.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2018/9780111173480/regulation/46",
    "retrieved_at": "2026-10-30T15:03:49.884760+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}