The Money Market Funds Regulations 2018

Amendments to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013

This section has no associated Explanatory Memorandum

5.—(1) The Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013(1) is amended as follows.

(2) In article 1(2)(2) (citation, commencement and interpretation) in the appropriate place, insert—

““MMF Regulation” means Regulation (EU) No 2017/1131 of the European Parliament and of the Council of 14th June 2017 on Money Market Funds;”.

(3) In article 2(3) (qualifying EU provisions: general) in paragraph (2) after sub-paragraph (l), insert—

“(m)the MMF Regulation and any directly applicable regulation or decision made under that Regulation.”.

(4) In article 3(4) (qualifying EU provisions: disciplinary measures)—

(a)in paragraph (2), after sub-paragraph (o), insert—

“(p)the MMF Regulation and any directly applicable regulation or decision made under that Regulation.”.

(b)in paragraph (3), after sub-paragraph (m), insert—

“(n)in relation to a contravention of a requirement imposed by the MMF Regulation or any directly applicable regulation or decision made under that Regulation, the FCA.”.

(5) In article 5(5) (qualifying EU provisions: injunctions and restitution)—

(a)in paragraph (2), after sub-paragraph (o), insert—

“(p)the MMF Regulation and any directly applicable regulation or decision made under it.”;

(b)in paragraph (5), after sub-paragraph (n), insert—

“(o)in relation to a contravention of a requirement imposed by the MMF Regulation or any directly applicable regulation or decision made under that Regulation, the FCA.”.

(6) In article 6(6) (qualifying EU provisions: fees), in paragraph (2), after sub-paragraph (q), insert—

“(r)the MMF Regulation and any directly applicable regulation or decision made under that Regulation.”.