# The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, Regulation 178: The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001

Extent: E+W+S+N.I.

(1) The Financial Services and Markets Act 2000 (Appointed Representatives) Regulations 2001 are amended as follows.
(2) In regulation 1 (citation, commencement and interpretation), in paragraph (2) omit the definitions of “EEA credit institution” and “EEA investment firm”.
(3) In regulation 2 (descriptions of business for which appointed representatives are exempt)—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) in paragraph (1A) , for “a person who has a Part 4A permission for the purposes of the capital requirements directive or the markets in financial instruments directive, an EEA investment firm, or an EEA credit institution,” substitute “ a CRR firm, or a relevant investment firm or credit institution, ”;
(c) for paragraph (1B) substitute—
“(1B) In paragraph (1A)—
“clients” has the meaning given in Article 2.1.7 of the markets in financial instruments regulation;
“CRR firm” has the meaning given in Article 4.1.2A of the capital requirements regulation, except that it does not include an investment firm;
“financial instruments” has the meaning given in Article 2.1.9 of the markets in financial instruments regulation;
“relevant investment firm or credit institution” means a person falling within Article 1.2(a)(i) of the markets in financial instruments regulation.”.
(4) In regulation 3 (requirements applying to contracts between authorised persons and appointed representatives)—
(a) in paragraph (1) , for the words before “must” substitute “ It is a prescribed requirement for the purposes of section 39(1)(a)(ii) of the Act that a contract between a principal and a representative ”;
(b) omit paragraph (1A) ;
(c) in paragraph (6) —
(i) in the words before sub-paragraph (a) omit “, except where paragraph (1A) applies,”;
(ii) in sub-paragraph (a), for “Article 4.1.29 (definitions) of the markets in financial directive” substitute “ Part 3 of Schedule 2 to the Regulated Activities Order ”;
(iii) in sub-paragraph (b), for “Article 4.1.43 of that directive” substitute “ Article 2.1.23 of the markets in financial instruments regulation ”.

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Source: https://www.legislation.gov.uk/uksi/2019/632/regulation/178 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-178
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.