Part XIII Incoming Firms: Intervention by FCA or PRA
Interpretation
F1193 Interpretation of this Part.
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F1194 General grounds on which power of intervention is exercisable.
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F1194A Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance
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F1194B.Contravention by relevant EEA firm of requirement in capital requirements directive or capital requirements regulation
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F1194C.Contravention by relevant EEA firm with UK branch of requirement in mortgages directive: appropriate regulator primarily responsible for securing compliance
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F1194D.Contravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance
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195 Exercise of power in support of overseas regulator.
F1(1)
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F1(2)
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F1(2A)
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(3)
“An overseas regulator” means an authority in a country or territory outside the United Kingdom—
(a)
which is a home state regulator; or
(b)
which exercises any function of a kind mentioned in subsection (4).
(4)
The functions are—
(a)
a function corresponding to any function of F2either regulator under this Act;
F3(b)
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(c)
a function corresponding to any function exercised by the Secretary of State under F4the Companies Acts (as defined in section 2 of the Companies Act 2006);
(d)
a function in connection with —
(i)
the investigation of conduct of the kind prohibited by Part V of the M1Criminal Justice Act 1993 (insider dealing); or
(ii)
the enforcement of rules (whether or not having the force of law) relating to such conduct;
(e)
a function prescribed by regulations made for the purposes of this subsection which, in the opinion of the Treasury, relates to companies or financial services.
F1(5)
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F1(6)
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F1(7)
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F1(8)
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F1195AContravention by relevant EEA firm , EEAUCITS or EEAAIFM of directive requirements: home state regulator primarily responsible for securing compliance
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F1195B.Contravention by relevant EEA firm of requirement in mortgages directive: home state regulator primarily responsible for securing compliance
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F1195C.Contravention by relevant EEA firm of requirement in insurance distribution directive: home state regulator primarily responsible for securing compliance
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F1196 The power of intervention.
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