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The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019
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- UK Statutory Instruments
- 2019 No. 632
- PART 3
- Regulation 156
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The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, Section 156 is up to date with all changes known to be in force on or before 24 November 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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Changes and effects yet to be applied to Regulation 156:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Article 83 (options)U.K.
This section has no associated Explanatory Memorandum
156.—(1) Article 83 (options) is amended as follows.
(2) In paragraph (1)(e) M1, for the words after “an option to which” substitute “ paragraph 5, 6, 7 or 10 of Part 1 of Schedule 2 (read with Articles 5, 6, 7, and 8 of the Commission Regulation) applies ”.
(3) In paragraph (2)(d) M2—
(a)in paragraph (i) omit “Section C of Annex I to the markets in financial instruments directive, the text of which is set out in”;
(b)in paragraph (ii), for “Section C of Annex I to the markets in financial instruments directive” substitute “ Part 1 of that Schedule ”.
(4) In paragraph (3)(c) M3, for “Section C of Annex I to the markets in financial instruments directive” substitute “ Part 1 of Schedule 2 ”.
(5) In paragraph (4) M4, for sub-paragraphs (a) to (d) substitute—
“(a)an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,
(b)a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,
(c)a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or
(d)a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.”.
(6) Omit paragraph (5) M5.
Modifications etc. (not altering text)
C1Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)
Commencement Information
I1Reg. 156 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M1Paragraph (1)(e) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
M2Paragraph (2) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
M3Paragraph (3) was inserted by S.I. 2006/3384 and was amended by S.I. 2017/488.
M4Paragraph (4) was inserted by S.I. 2006/3384 and was amended by S.I. 2011/1613 and S.I. 2017/488.
M5Paragraph (5) was inserted by S.I. 2006/3384.
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