SCHEDULES
SCHEDULE 4EEA passport rights and treaty rights
PART 4Amendments of Part 13 of FSMA 2000: Powers of intervention
I135
1
Section 195A (contravention by relevant EEA firm or EEAUCITS of directive requirement: home state regulator primarily responsible for securing compliance) is amended as follows.
2
For “the Authority” or “the Authority's”, in each place, substitute “
the appropriate regulator
”
or “the appropriate regulator's”.
3
After subsection (11A) insert—
11B
Subsection (4) is not to be regarded as requiring the PRA to notify the home state regulator in relation to the contravention of a requirement falling within subsection (2) or (3) in a case where the PRA is satisfied that the FCA is required to act, and is acting or has acted, under subsection (4) in relation to that requirement.
4
In subsection (12), before the definition of “home state” insert—
“the appropriate regulator” means—
a
where the relevant EEA firm is a PRA-authorised person, the FCA or, subject to subsection (11B), the PRA;
b
in any other case, the FCA;