Reg. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 3 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 5 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 6 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 7 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 8 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 9 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 10 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 11 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 12 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Reg. 13 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Words in reg. 3(f)(i) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 14(a)
Words in reg. 3(f)(ii) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 14(b)
Reg. 3(b) omitted (31.12.2020 immediately before IP completion day) by virtue of The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020 (S.I. 2020/628), regs. 1(3), 8(2)(a)
Words in reg. 3(f)(i) substituted (31.12.2020 immediately before IP completion day) by The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020 (S.I. 2020/628), regs. 1(3), 8(2)(b)
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
In regulation 3(1)—
omit the definition of “European Supervisory Authorities”;
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
after the definition of “markets in financial instruments directive”, insert—
“
in the definition of “regulated market”—
for paragraph (a), substitute—
within the United Kingdom, means a UK regulated market, as defined by Article 2(1)(13A) of the markets in financial instruments regulation;
for paragraph (b), substitute—
outside the United Kingdom, means— within the EEA, an EU regulated market, as defined by Article 2(1)(13B) of the markets in financial instruments regulation; or outside the EEA, a regulated financial market which subjects companies whose securities are admitted to trading to disclosure obligations which are equivalent to the specified disclosure obligations;
omit the definition of “the Solvency 2 directive”;
in the definition of “specified disclosure obligations”—
for paragraph (b), substitute—
disclosure obligations consistent with the requirements in— sections 85, 87A and 87G of FSMA; prospectus rules within the meaning of Part 6 of FSMA (see section 73A(4) of FSMA) as those rules have effect on Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market; and Articles 6 to 10 of Commission Delegated Regulation (EU) 2016/301 of 30 November 2015 supplementing Directive 2003/71/EC of the European Parliament and of the Council with regard to regulatory technical standards for approval and publication of the prospectus and dissemination of advertisements and amending Commission Regulation (EC) No 809/2004; and
for paragraph (c), substitute—
disclosure obligations consistent with the requirements in sections 4 and 5.5 of, and rules 6.1.1 to 6.1.15 in, the Disclosure Guidance and Transparency Rules source book made by the FCA under section 89A of FSMA as those rules have effect on
omit paragraph (d);
in the definition of “third country” for “an EEA state” substitute
after the definition of “trust or company service provider” insert—
“
In regulation 9—
omit paragraph (2);
in paragraph (5)—
for “paragraphs (2) and (3)” substitute
omit sub-paragraph (a).
In regulation 10—
in paragraph (1)(b), for “an EEA state” substitute
for paragraph (2)(b), substitute—
an authorised person (within the meaning of section 31 of FSMA), who has permission under Part 4A of FSMA to carry out or effect contracts of insurance, when carrying out or effecting any contract of long-term insurance (an “insurance undertaking”);
in paragraph (2)(c)—
for “a person falling within Article 2 of the markets in financial instruments directive” substitute
for “within the meaning of that directive” substitute
in paragraph (2)(f) after “that Directive” insert
in paragraph (2)(g), for “an EEA state” substitute
in paragraph (3)(c), after “capital requirements directive” insert
for paragraph (4), substitute—
For the purposes of this regulation— a “ “
In regulation 16—
paragraph (5) is omitted;
in paragraph (7), omit sub-paragraphs (c), (d) and (e).
In regulation 17, in paragraph (2), omit sub-paragraphs (a) and (b).
In regulation 20—
omit paragraph (2);
after paragraph (5), insert—
The FCA may make technical standards specifying— what additional measures are required from credit institutions and financial institutions under paragraph (4); and the minimum action to be taken by credit institutions and financial institutions where paragraph (4) applies.
Omit regulation 22.
In regulation 33—
in paragraph (2)—
in the opening words, for “an EEA state” substitute
for paragraph (a), substitute—
the entity is— subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive); and supervised for compliance with those requirements in a manner equivalent to section 2 of Chapter VI of the fourth money laundering directive;
in paragraph (b), after “under” insert
omit paragraph (8).
In regulation 37—
in paragraph (3)—
in sub-paragraph (a)—
for paragraph (iii)(aa), substitute—
subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive); and
in paragraph (iii)(bb), for “in accordance with” substitute
in sub-paragraph (b)(iv), for “an EEA state” substitute
in sub-paragraph (c)(i), for “an EEA state” substitute
in paragraph (6), for paragraph (b), substitute—
a person who carries on business in a third country who is— subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive); and supervised for compliance with those requirements in a manner equivalent to section 2 of Chapter VI of the fourth money laundering directive.
omit paragraph (7).
In regulation 39—
in paragraph (3)—
omit sub-paragraph (b);
in sub-paragraph (d), omit “, (b)”;
in paragraph (5)—
in the words before sub-paragraph (a), omit “established in an EEA state”;
for sub-paragraph (a), substitute—
the entity is— a person who is subject to the requirements in these Regulations as a relevant person within the meaning of regulation 8 and who is supervised for compliance with them; or subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive) and supervised for compliance with those requirements in a manner equivalent to section 2 of Chapter VI of the fourth money laundering directive;
for sub-paragraph (b) substitute—
the branch or subsidiary complies fully with procedures and policies established for the group under— regulation 20 of these Regulations, or requirements in national legislation having an equivalent effect to those laid down Article 45 of the fourth money laundering directive.
in paragraph (6)(c), omit “other than the United Kingdom”.
In regulation 45—
in paragraph (7)(e), for “EEA state or third country” substitute
in paragraph (13)—
in the opening words, for “must” substitute
in sub-paragraph (a), for the words from “provided for” to the end of the sub-paragraph, substitute
in sub-paragraph (b), for “an EEA state other than the United Kingdom”, substitute
In regulation 46, in paragraph (3), omit sub-paragraph (a).
In regulation 47, in paragraph (3), omit sub-paragraphs (a) to (e).
In regulation 50—
in paragraph (4)—
in sub-paragraph (a), omit “other than the United Kingdom”;
in sub-paragraph (b), for “a country” substitute
omit paragraph (5).
In regulation 51, in paragraph (2), for the words from “comply with” to the end, substitute
In regulation 63—
omit paragraph (4);
omit paragraph (9);
in paragraph (10)—
in sub-paragraph (a), omit “other than the United Kingdom”;
in sub-paragraph (b), for “a country” substitute
In regulation 64—
omit paragraph (1);
in paragraph (2), omit the words from “(whether by” to “or otherwise)”.
In regulation 67, omit paragraph (5).
In regulation 69(1)(b), omit paragraph (i).
In Schedule 6, in paragraph 5, omit sub-paragraph (a)(v).
In regulation 76, in paragraph (6), omit sub-paragraph (a).
In regulation 86, in paragraph (2), omit sub-paragraph (a).
In the Oversight of Professional Body Anti-Money Laundering and Counter Terrorist Financing Supervision Regulations 2017
in regulation 2, omit the definition of “The European Supervisory Authorities”;
in regulation 14(4), omit sub-paragraph (b);
in regulation 16(4), omit sub-paragraph (b);
in regulation 17(4), omit sub-paragraph (b).