PART 2Amendment of EU Regulations
CHAPTER 1Amendment of Regulation (EU) 2016/1011
Governance and control requirements for supervised contributorsI114
1
Article 16 (governance and control requirements for supervised contributors) is amended as follows.
2
In paragraph 4, for “relevant competent authority” substitute “
FCA
”
.
3
In paragraph 5—
a
in the first subparagraph, for “ESMA shall develop draft regulatory” substitute “
The FCA may make
”
;
b
in the second subparagraph—
i
in the first sentence, for “ESMA” substitute “
The FCA
”
;
ii
in the second sentence, omit “ESMA draft regulatory”;
c
omit the third and fourth subparagraphs.
4
Omit paragraph 6.