Paragraph 20 Amendments to Part 13 (incoming firms: intervention by FCA or PRA)

(1)

Section 194A M1 (contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance) is amended as follows.

(2)

In subsection (1)(b) M2 for “62.2” substitute “ 86.2 ”.

(3)

In subsection (3)—

(a)

at the end of paragraph (a) omit “or”;

(b)

after paragraph (a) insert—

“(aa)
by or under any provision of the markets in financial instruments regulation; or”; and

(c)

in paragraph (b)—

(i)

for “Community” substitute “ EU ”; and

(ii)

after “directive” insert “ or the markets in financial instruments regulation ”.

Annotations

Marginal citations

M1: Section 194A was inserted by S.I. 2007/126.
M2: Subsection (1)(b) was amended by paragraph 33(2) of Schedule 4 to the Financial Services Act 2012.

Notes on the whole SI

Textual amendments

F1: Regulations revoked (14.12.2023 for the revocation of reg. 51) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xviii)