The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018
9.—(1) The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018(1) are amended as follows.
(2) In regulation 28(10)—
(a)in sub-paragraph (a)—
(i)after “in paragraph 1”, insert—
“—
(i)before ‘systematic internaliser’, insert ‘UK’;”
(ii)renumber the words from “for” to the end of the sub-paragraph as paragraph (ii);
(b)after sub-paragraph (a), insert—
“(aa)after paragraph 1, insert—
“1A. For the purposes of paragraph 1, a ‘UK systematic internaliser’ is a systematic internaliser which—
(a)has its head office in the United Kingdom, or
(b)operates through a branch in the United Kingdom.””
(3) In regulation 51—
(a)in paragraph (1), for sub-paragraph (c), substitute—
“(c)in paragraph 2—
(i)for “Article 4(1)(13) of Directive 2014/65/EU” substitute “regulation 2(1) of the Markets in Financial Instruments Regulation 2017”;
(ii)for “Union” substitute “United Kingdom”.”;
(b)in paragraph (2)(c), after paragraph (iii), insert—
“(iv)in the second subparagraph, for “competent authority” substitute “FCA”;”.