{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-90",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-90.json",
  "legislation": "uksi/2019/632",
  "legislation_title": "The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019",
  "path": "regulation/90",
  "kind": "regulation",
  "number": "90",
  "heading": "Section 424A (meaning of “investment firm”)",
  "text": "(1) Section 424A (meaning of “investment firm”) is amended as follows.\n(2) In subsection (1), for “Article 4.1.1 of the markets in financial instruments directive” substitute “ paragraph 2.1A of the markets in financial instruments regulation ”.\n(3) In subsection (2), for “subsections (3) to (5)” substitute “ subsection (5) ”.\n(4) Omit subsections (3) and (4).\n(5) In subsection (5) , for paragraphs (a) and (b) substitute—\n“(a) a person excluded from the definition of “investment firm” in Article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) by paragraph (a) or (b) of that definition; or\n(b) a firm which has a Part 4A permission to carry on regulated activities as an exempt investment firm within the meaning of regulation 8 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701).”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "Section 424A was inserted by S.I. 2006/2975."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "Subsection (3) was substituted by S.I. 2007/126."
    },
    {
      "type": "M",
      "label": "M3",
      "text": "Subsection (5) was amended by S.I. 2017/701."
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 90 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/632/regulation/90",
    "retrieved_at": "2026-10-28T22:43:51.496494+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."
}