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

Changes over time for: Section 5

Version Superseded: 27/02/2018

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Qualifying EU provisions: injunctions and restitutionU.K.

This section has no associated Explanatory Memorandum

5.—(1) The instruments listed in paragraph (2) are specified qualifying EU provisions for the purposes of sections 380(6)(a), 382(9)(a) and 384(7)(a) 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[F3, except for Article 38 (prohibition of insider dealing), Article 39 (other prohibited uses of inside information) and Article 41 (prohibition of market manipulation) of that regulation];

(d)the European market infrastructure regulation;

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

[F4(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];

[F5(h)the CSD regulation and any directly applicable regulation made under that Regulation];

[F6(i)any directly applicable regulation made under the recovery and resolution directive];

[F7(j)the ELTIF Regulation and any directly applicable regulation made under it];

[F8(k)the market abuse regulation and any directly applicable regulation made under that Regulation, except for Article 14 (prohibition of insider dealing and of unlawful disclosure of inside information) and Article 15 (prohibition of market manipulation) of the market abuse regulation];

[F9(l)any directly applicable regulation made under the Solvency 2 Directive];

[F10(m)the PRIIPs regulation and any directly applicable regulation made under that Regulation.]

(3) The instruments listed in paragraph (4) are also specified qualifying EU provisions for the purposes of section 380(6)(a) and 382(9)(a) of the Act.

(4) The instruments are—

(a)the short selling regulation;

(b)any directly applicable regulation made under the short selling regulation.

[F11(4A) The SFT regulation and any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation are specified qualifying EU provisions for the purposes of section 380(6)(a) of the Act.]

(5) The appropriate regulator for the purposes of sections 380, 382 and 384 of the Act is—

(a)in relation to a contravention of a requirement imposed by a directly applicable regulation made under the markets in financial instruments directive [F12or the markets in financial instruments regulation]—

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

(ii)in any other case, the FCA;

(b)in relation to a contravention of the emission allowance auctioning regulation or any directly applicable regulation made under the UCITS directive [F13or the alternative investment fund managers directive], the FCA;

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

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

(ii)in any other case, the FCA;

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

(e)in relation to a contravention of the short selling regulation or any directly applicable regulation made under that regulation, the FCA;

[F14(f)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];

[F15(g)in relation to a contravention of the CSD regulation or any directly applicable regulation made under the CSD regulation—

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

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

[F16(h)in relation to a contravention of a requirement imposed by any directly applicable regulation made under the recovery and resolution directive—

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

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

[F17(i)in relation to a contravention of a requirement imposed by the ELTIF Regulation or any directly applicable regulation made under that Regulation, the FCA];

[F18(j)in relation to a contravention of the market abuse regulation or any directly applicable regulation made under that Regulation, the FCA];

[F19(k)in relation to a contravention of a requirement imposed by a directly applicable regulation made under the Solvency 2 Directive, the PRA];

[F20(l)in relation to a contravention of a requirement imposed by the PRIIPs regulation or any directly applicable regulation made under that Regulation, the FCA.]

[F21(5A) The appropriate regulator for the purposes of section 380 of the Act, in relation to a contravention of the SFT regulation or any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation, is the FCA.]

(6) The specified qualifying EU provisions for the purposes of paragraph 26(2)(c) of Schedule 17A to the Act are—

(a)the European market infrastructure regulation;

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

[F22(c)the CSD regulation and any directly applicable regulation made under that Regulation];

[F23(d)the SFT regulation and any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation.]

Textual Amendments

F1Art. 5(2)(aa) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) 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(5)(a) (with reg. 7)

F2Art. 5(2)(ba) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 22(5)(a)(i)

F3Words in art. 5(2)(c) inserted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 22(4)(a)

F4Art. 5(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(5)(a)(ii)

F5Art. 5(2)(h) inserted (21.11.2014) by The Central Securities Depositories Regulations 2014 (S.I. 2014/2879), regs. 1(1), 9(5)(a)

F6Art. 5(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(5)(a)