PART 3 Amendment of Regulation (EU) 2015/760

38 Powers of the FCA
1 Article 33 (the heading to which becomes “Powers of the FCA”) is amended as follows.
2 In paragraph 1—
(a) for “Competent authorities” substitute “The FCA”;
(b) for “their” substitute “its”.
3 In paragraph 2, for “competent authorities in accordance with Directive 2011/61/EU” substitute “the FCA under the AIFM Regulations”.
4 In paragraph 3—
(a) for “competent authority of the ELTIF” substitute “FCA”;
(b) for “designation ‘ELTIF’ or ‘European long-term investment fund’” substitute “designation ‘LTIF’ or ‘long-term investment fund’”;
(c) for “ELTIF no” substitute “LTIF no”.