SCHEDULES
SCHEDULE 4

EEA passport rights and treaty rights
PART 4

Amendments of Part 13 of FSMA 2000: Powers of intervention
33
1
Section 194A (contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive) is amended as follows.
2
For “the Authority” or “the Authority's”, in each place, substitute “ the appropriate regulator ” or “the appropriate regulator's”.
3
After subsection (8) insert—
9
Subsection (4) is not to be regarded as requiring the PRA to take action in relation to the contravention of a requirement falling within subsection (3) in a case where it is satisfied that the FCA is required to act, and is acting or has acted, under subsection (4)—
a
in relation to that requirement, or
b
where that requirement is imposed by rules made by the PRA, in relation to an identical requirement imposed by rules made by the FCA.
10
“The appropriate regulator” means—
a
where the relevant EEA firm is a PRA-authorised person, the FCA or, subject to subsection (9), the PRA;
b
in any other case, the FCA.
4
In the heading, for “Authority” substitute “ appropriate regulator ”.
Sch. 4 para. 33 in force at 27.2.2013 for specified purposes by S.I. 2013/423, art. 2
Sch. 4 para. 33 in force at 1.4.2013 in so far as not already in force by S.I. 2013/423, art. 3, Sch.