The Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013

Qualifying EU provisions: disciplinary measures U.K.

3.—(1) The instruments listed in paragraph (2) are specified qualifying EU provisions for the purposes of section 204A(2) of the Act.

(2) The instruments are—

(a) any directly applicable regulation made under the markets in financial instruments directive;

[F1 (aa) the markets in financial instruments regulation and any directly applicable EU regulation made under that regulation;]

(b) any directly applicable regulation made under the UCITS directive;

[F2 (ba) any directly applicable regulation made under the alternative investment fund managers directive;]

(c) the emission allowance auctioning regulation;

(d) the European market infrastructure regulation;

(e) any directly applicable regulation made under the European market infrastructure regulation;

[F3 (f) the EuSEF Regulation and any directly applicable regulation made under that Regulation;

(g) the EuVECA Regulation and any directly applicable regulation made under that Regulation];

[F4 (h) the CSD regulation and any directly applicable regulation made under that Regulation];

[F5 (i) any directly applicable regulation made under the recovery and resolution directive];

[F6 (j) the ELTIF Regulation and any directly applicable regulation made under that Regulation];

[F7 (k) the SFT regulation and any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation];

[F8 (l) any directly applicable regulation made under the Solvency 2 Directive.]

(3) The appropriate regulator for the purposes of each provision in Part 14 of the Act in relation to the qualifying EU provisions specified by paragraph (1) is—

(a) in relation to a contravention of a requirement imposed by a directly applicable regulation made under the markets in financial instruments directive [F9 or the markets in financial instruments regulation]—

(i) if the authorised person concerned is a PRA-authorised person, either the PRA or the FCA;

(ii) in any other case, the FCA;

(b) in relation to a contravention of a requirement imposed by the emission allowance auctioning regulation or any directly applicable regulation made under the UCITS directive [F10 or the alternative investment fund managers directive], the FCA;

(c) in relation to a contravention of a requirement imposed by the European market infrastructure regulation—

(i) if the authorised person concerned is a PRA-authorised person, either the PRA or the FCA;

(ii) in any other case, the FCA;

(d) in relation to a contravention of a requirement imposed by any directly applicable regulation made under the European market infrastructure regulation, the FCA;

[F11 (e) in relation to a contravention of a requirement imposed by the EuSEF Regulation, the EuVECA Regulation or any directly applicable regulation made under either the EuSEF Regulation or the EuVECA Regulation, the FCA];

[F12 (f) in relation to a contravention of a requirement imposed by the CSD regulation or any directly applicable regulation made under the CSD regulation—

(i) if the authorised person concerned is a PRA-authorised person, either the PRA or the FCA;

(ii) in any other case, the FCA];

[F13 (g) in relation to a contravention of a requirement imposed by any directly applicable regulation made under the recovery and resolution directive—

(i) if the authorised person concerned is a PRA-authorised person, either the PRA or the FCA;

(ii) in any other case, the FCA];

[F14 (h) in relation to a contravention of a requirement imposed by the ELTIF Regulation or any directly applicable regulation made under that Regulation, the FCA];

[F15 (i) in relation to a contravention of a requirement imposed by the SFT regulation or any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation, the FCA];

[F16 (j) in relation to a contravention of a requirement imposed by a directly applicable regulation made under the Solvency 2 Directive, the PRA.]

Textual Amendments

F1 Art. 3(2)(aa) inserted (29.6.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 6(3)(a) (with reg. 7)

F2 Art. 3(2)(ba) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(4)(a)(i)

F3 Art. 3(2)(f)(g) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(4)(a)(ii)

F4 Art. 3(2)(h) inserted (21.11.2014) by The Central Securities Depositories Regulations 2014 (S.I. 2014/2879), regs. 1(1), 9(3)(a)

F5 Art. 3(2)(i) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 12(4)(a)

F6 Art. 3(2)(j) inserted (3.12.2015) by The European Long-term Investment Funds Regulations 2015 (S.I. 2015/1882), regs. 1, 8(4)(a)

F7 Art. 3(2)(k) inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 4(3)(a)

F8 Art. 3(2)(l) inserted (12.10.2016) by The Financial Services and Markets Act 2000 (Qualifying EU Provisions) (Amendment) Order 2016 (S.I. 2016/936), arts. 1(2), 2(3)(a)

F9 Words in art. 3(3)(a) inserted (29.6.2017 for specified purposes) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 6(3)(b) (with reg. 7)

F10 Words in art. 3(3)(b) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(4)(b)(i)

F11 Art. 3(3)(e) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(4)(b)(ii)

F12 Art. 3(3)(f) inserted (21.11.2014) by The Central Securities Depositories Regulations 2014 (S.I. 2014/2879), regs. 1(1), 9(3)(b)

F13 Art. 3(3)(g) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 12(4)(b)

F14 Art. 3(3)(h) inserted (3.12.2015) by The European Long-term Investment Funds Regulations 2015 (S.I. 2015/1882), regs. 1, 8(4)(b)

F15 Art. 3(3)(i) inserted (13.7.2016) by The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016 (S.I. 2016/715), reg. 1(2), Sch. 2 para. 4(3)(b)

F16 Art. 3(3)(j) inserted (12.10.2016) by The Financial Services and Markets Act 2000 (Qualifying EU Provisions) (Amendment) Order 2016 (S.I. 2016/936), arts. 1(2), 2(3)(b)