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Regulation (EU) No 600/2014 of the European Parliament and of the CouncilShow full title
Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012 (Text with EEA relevance)
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Changes over time for: Article 49
Version Superseded: 01/07/2021
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Regulation (EU) No 600/2014 of the European Parliament and of the Council, Article 49 is up to date with all changes known to be in force on or before 16 July 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Article 49U.K.Withdrawal of registration
1.[F1The FCA] shall withdraw the registration of a third-country firm in the register established in accordance with Article 48 where:
(a)[F1the FCA] has well-founded reasons based on documented evidence to believe that, in the provision of investment services and activities in the [F2United Kingdom], the third-country firm is acting in a manner which is clearly prejudicial to the interests of investors or the orderly functioning of markets; or
(b)[F1the FCA] has well-founded reasons based on documented evidence to believe that, in the provision of investment services and activities in the [F2United Kingdom], the third-country firm has seriously infringed the provisions applicable to it in the third country and on the basis of which [F3the Treasury has made regulations] in accordance with Article 47(1);
(c)[F1the FCA] has referred the matter to the competent authority of the third country and that third-country competent authority has not taken the appropriate measures needed to protect investors and the proper functioning of the markets in the [F2United Kingdom] or has failed to demonstrate that the third-country firm concerned complies with the requirements applicable to it in the third country; and
(d)[F1the FCA] has informed the third-country competent authority of its intention to withdraw the registration of the third-country firm at least 30 days before the withdrawal.
2.[F4 The FCA] shall inform [F5the Treasury] of any measure adopted in accordance with paragraph 1 without delay and shall publish its decision on its website.
3.The [F6Treasury] shall assess whether the conditions under which [F7regulations under Article 47(1) have been made] continue to persist in relation to the third country concerned.
Textual Amendments
F1Words in Art. 49(1) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(a)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in Art. 49(1) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in Art. 49(1)(b) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(a)(iii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F4Words in Art. 49(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F5Words in Art. 49(2) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F6Word in Art. 49(3) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(c)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F7Words in Art. 49(3) substituted (31.12.2020) by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regs. 1(3), 33(4)(c)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
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