SCHEDULES

SCHEDULE 4EEA passport rights and treaty rights

PART 1Amendments of Schedule 3 to FSMA 2000: EEA passport rights

Exercise of passport rights by UK firms

11

(1)

Paragraph 20 (services) is amended as follows.

(2)

For “Authority”, in each place, substitute “ appropriate UK regulator ”.

(3)

After sub-paragraph (3A) insert—

“(3AA)

Where the PRA is the appropriate UK regulator, it must consult the FCA before deciding whether to give a consent notice.

(3AB)

Where the FCA is the appropriate UK regulator, it must consult the PRA before deciding whether to give a consent notice in relation to a UK firm whose immediate group includes a PRA-authorised person.”