{
  "url": "https://openlegislation.uk/draft-markets-in-financial-instruments-amendment-eu-exit-regulations-2018/regulation-47",
  "json_url": "https://openlegislation.uk/draft-markets-in-financial-instruments-amendment-eu-exit-regulations-2018/regulation-47.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/47",
  "kind": "regulation",
  "number": "47",
  "heading": "Investment Advice",
  "text": "(1) In Article 52, omit the sub-heading in brackets.\n(2) In Article 53—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1, in the opening words, for “Article 24(7)(a) of Directive 2014/65/EU” substitute “rule 6.2B.11 of the Conduct of Business sourcebook”;\n(c) in paragraph 3(a), for “Article 24(4)(a) of Directive 2014/65/EU” substitute “rule 6.2B.33 of the Conduct of Business sourcebook”.\n(3) In Article 54—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1, for “Article 25(2) of Directive 2014/65/EU” substitute “rule 9A.2.1 of the Conduct of Business sourcebook”;\n(c) in paragraph 3, in the second sub-paragraph, for “Section 1 of Annex II to Directive 2014/65/EU” substitute “Part 2 of Schedule 1 to Regulation (EU) No 600/2014”;\n(d) in paragraph 6, in the second sub-paragraph, for “Section 2 of Annex II to Directive 2014/65/EU” substitute “Part 3 of Schedule 1 to Regulation (EU) No 600/2014”;\n(e) in paragraph 8, for “Article 25(2) of Directive 2014/65/EU” substitute “rule 9A.2.1 of the Conduct of Business sourcebook”.\n(4) In Article 55—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 2, for “Article 25(2) and (3) of Directive 2014/65/EU” substitute “rules 9A.2.1 and 10A.2.1 of the Conduct of Business sourcebook”.\n(5) In Article 56—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1, for “Article 25(3) of Directive 2014/65/EU” substitute “rule 10A.1.1 of the Conduct of Business sourcebook”.\n(6) In Article 57—\n(a) omit the sub-heading in brackets;\n(b) in the opening words—\n(i) for “Article 25(4)(a) of Directive 2014/65/EU” substitute “rule 10A.4.1(2) of the Conduct of Business sourcebook”;\n(ii) for “Article 25(4)(a)(vi) of Directive 2014/65/EU” substitute “paragraph (2)(f) of that rule”;\n(iii) for point (a), substitute—\n“(a) it does not fall within Article 2(1)(24)(c) of Regulation (EU) No 600/2014 or paragraphs 4 to 11 of Part 1 of Schedule 2 to the Regulated Activities Order;”.\n(7) In Article 58—\n(a) omit the sub-heading in brackets;\n(b) in the first sub-paragraph, for “Section B(1) of Annex 1 to Directive 2014/65/EU” substitute “paragraph 1 of Part 3A of Schedule 2 to the Regulated Activities Order”;\n(c) in the second sub-paragraph, in point (c) for “Section B(1) of Annex 1 to Directive 2014/65/EU” substitute “paragraph 1 of Part 3A of Schedule 2 to the Regulated Activities Order”.\n(8) In Article 59, omit the sub-heading in brackets.\n(9) In Article 60—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 3, in the second sub-paragraph, for the words from “Article 4(1)(44)(c) of” to the end substitute “Article 2(1)(24)(c) of Regulation (EU) No 600/2014 or paragraphs 4 to 11 of Part 1 of Schedule 2 to the Regulated Activities Order”.\n(10) In Article 61, omit the sub-heading in brackets.\n(11) In Article 62, omit the sub-heading in brackets.\n(12) In Article 63—\n(a) omit the sub-heading in brackets;\n(b) in paragraph 1, in the second sub-paragraph—\n(i) for “authorised under Directive 2000/12/EC of the European Parliament and of the Council” substitute “that is a CRR firm as defined in Article 4(1)(2A) of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms”;\n(ii) for “of that Directive” substitute “of Article 2(1)(23A) of Regulation (EU) No 600/2014”.\n(c) in paragraph 2(d) for “Directive 2014/65/EU and its implementing measures” substitute “the UK law on markets in financial instruments”.",
  "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/47",
    "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."
}