The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017

Co-operation

6.—(1) In exercising its functions under these Regulations and with respect to Article 28 of the markets in financial instruments regulation, the FCA must take such steps as it considers appropriate to co-operate with—

(a) persons who have functions similar to the functions of the FCA under these Regulations;

(b) persons who have functions similar to the functions of the FCA with respect to Article 28 of the markets in financial instruments regulation; and

(c) other persons mentioned in Article 79 of the markets in financial instruments directive.

(2) In exercising its functions under Part 5 of these Regulations, the PRA must take such steps as it considers appropriate to co-operate with—

(a) persons who have functions similar to the functions of the PRA under these Regulations; and

(b) other persons mentioned in Article 79 of the markets in financial instruments directive.

(3) The duty under section 3D of the Act(1) (duty of FCA and PRA to ensure co-ordinated exercise of functions) applies to the exercise of the functions of the FCA and PRA under these Regulations, and in the case of the FCA its functions with respect to Article 28 of the markets in financial instruments regulation, as it applies to the exercise of their functions under the Act.

(1)

Section 3D was inserted by section 6 of the Financial Services Act 2012.