{
  "url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-4",
  "json_url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004/regulation-4.json",
  "legislation": "uksi/2004/1862",
  "legislation_title": "The Financial Conglomerates and Other Financial Groups Regulations 2004",
  "legislation_url": "https://openlegislation.uk/financial-conglomerates-and-other-financial-groups-regulations-2004",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Exercise of functions under section 138A of the Act for the purposes of carrying on supplementary supervision",
  "text": "(1) Paragraph (2) applies if a regulator is considering exercising any of the powers conferred on it by section 138A of the Act (modification or waiver of rules) in the course of carrying on supplementary supervision of a financial conglomerate ....\n(2) Before a regulator exercises such a power in relation to an authorised person who is a member of a financial conglomerate, the regulator must ...—\n(a) consult the relevant competent authorities in relation to the financial conglomerate of which that person is a member; and\n(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(c) consult the financial conglomerate of which that person is a member.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 4(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 95(5)(a)(i) (with Sch. 2 para. 96)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 4(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 95(5)(a)(ii) (with Sch. 2 para. 96)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 4(1) omitted (31.12.2020) by virtue of The Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/264), regs. 1, 2(5)(a) (with reg. 6) (as amended by S.I. 2020/1031, reg. 3, Sch. para. 15 and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in reg. 4(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 95(5)(b)(i) (with Sch. 2 para. 96)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in reg. 4(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 95(5)(b)(ii) (with Sch. 2 para. 96)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in reg. 4(2) omitted (31.12.2020) by virtue of The Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/264), regs. 1, 2(5)(b)(i) (with reg. 6) (as amended by S.I. 2020/1031, reg. 3, Sch. para. 15 and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Word in reg. 4(2)(a) inserted (31.12.2020) by The Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/264), regs. 1, 2(5)(b)(ii) (with reg. 6) (as amended by S.I. 2020/1031, reg. 3, Sch. para. 15 and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Reg. 4(2)(b) omitted (31.12.2020) by virtue of The Financial Conglomerates and Other Financial Groups (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/264), regs. 1, 2(5)(b)(iii) (with reg. 6) (as amended by S.I. 2020/1031, reg. 3, Sch. para. 15 and with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in reg. 4 heading substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 95(5)(c) (with Sch. 2 para. 96)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/1862/regulation/4",
    "retrieved_at": "2026-10-29T05:22:24.089006+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."
}