Regulation 25 Article 28 (third party verifying STS compliance)

In Article 28—

(a)

in paragraph (1)—

(i)

for “competent authority”, wherever it appears, substitute “FCA”;

(ii)

in point (b) omit “point (b) of”;

(b)

in paragraph (2) for “its competent authority”, in both places where it appears, substitute “the FCA”;

(c)

in paragraph (3) for “The competent authority” substitute “The FCA”; and

(d)

in paragraph 4—

(i)

in the first subparagraph for “ESMA shall develop draft regulatory” substitute “The FCA may make”, and for “the competent authorities” substitute “it”;

(ii)

omit the second and third subparagraphs.