Article 1

United Kingdom

For the purposes of Article 23(1) of Regulation (EU) No 600/2014 the legal and supervisory framework in Hong Kong Special Administrative Region applicable to recognised exchange companies authorised therein and as set out in the Annex to this Decision shall be F1considered—

(a)

to be equivalent to the requirements for UK regulated markets as defined in Regulation (EU) 600/2014, resulting from—

(i)

Regulation (EU) 596/2014;

(ii)

Title II of Regulation (EU) 600/2014; and

(iii)

the law of the United Kingdom which was relied on by the United Kingdom immediately before IP completion day to implement Title III of Directive 2014/65/EU and Directive 2004/109/EC and

(b)

to be subject to effective supervision and enforcement.

Annotations

Textual amendments

F1: Words in Art. 1 substituted (31.12.2020) by The Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019 (S.I. 2019/541), reg. 1(2), Sch. 2 para. 2(2)(3)(b) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 29(b)); 2020 c. 1, Sch. 5 para. 1(1)