Competent authorities and cooperation
34.—(1) Omit Articles 37 (delegation of tasks between competent authorities) to 40 (competent authorities).
(2) In Article 41—
(a)omit paragraphs 1 to 3;
(b)in paragraph 4, for “to a competent authority in accordance with paragraph 1” substitute “at the request of the FCA or in response to a requirement imposed by the FCA in the exercise of its functions under Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC”.
(3) Omit Articles 42 (administrative sanctions and other administrative measures) to 44 (obligation to cooperate).