The Statutory Auditors and Third Country Auditors (Amendment) (EU Exit) Regulations 2019

Amendment of Regulation 537/2014

99.  In Article 25 (cooperation with other competent authorities at national level)—

(a) in the first subparagraph—

(i) for “Competent authorities designated pursuant to Article 20(1)” substitute “The competent authority”;

(ii) for “any authority” substitute “any body”;

(iii) for “such a” substitute “the”;

(iv) omit “at national level”;

(v) for point (a), substitute—

“(a) the body designated by the Secretary of State under section 1252 of the Companies Act 2006;”;

(vi) for point (b), substitute—

“(b) the Financial Conduct Authority(1);”;

(vii) for point (c), substitute—

“(c) the body appointed to exercise the functions mentioned at section 14(2) of the Companies (Audit, Investigations and Community Enterprise) Act 2004;

(d) the person authorised for the purposes of section 456 of the Companies Act 2006; or

(e) the National Crime Agency and the supervisory authorities referred to in regulation 7 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.”;

(b) in the second subparagraph—

(i) for “obligation of professional secrecy” substitute “restrictions on disclosure”;

(ii) for “Article 22 of this Regulation shall” substitute “section 1224A of the Companies Act 2006”.

(1)

The UK financial services regulator, with primary responsibility for the conduct of firms authorised under the Financial Services and Markets Act 2000 (c. 8).