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The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019
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- UK Statutory Instruments
- 2019 No. 632
- PART 5
- Regulation 189
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The Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013
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189.—(1) Article 3 of the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013(1) (dealing in investments as principal: designation by the PRA) is amended as follows.
(2) In paragraph (2)(2)—
(a)at the end of sub-paragraph (a) insert “or”;
(b)omit sub-paragraph (c) and the preceding “or”.
(3) In paragraph (3)(3)—
(a)for sub-paragraph (a)(4) substitute—
“(a)is an investment firm that is required to have initial capital of 730,000 euro or would be required to do so if it had a Part 4A permission;”;
(b)for sub-paragraph (c) substitute—
“(c)is established in a country other than the United Kingdom but would meet the requirement specified in sub-paragraph (a) if P were established in the United Kingdom and had obtained the necessary authorisation in the United Kingdom for its business.”.
(1)
(2)
Article 3(2) was amended by S.I. 2017/701.
(3)
Article 3(3) was amended by S.I. 2013/3115.
(4)
Paragraph (3)(a) was substituted by S.I. 2013/3115.
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