Point in time view as at 31/12/2020.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019. Any changes that have already been made by the team appear in the content and are referenced with annotations.
189.—(1) Article 3 of the Financial Services and Markets Act 2000 (PRA-regulated Activities) Order 2013 M1 (dealing in investments as principal: designation by the PRA) is amended as follows.
(2) In paragraph (2) M2—
(a)at the end of sub-paragraph (a) insert “ or ”;
(b)omit sub-paragraph (c) and the preceding “or”.
(3) In paragraph (3) M3—
(a)for sub-paragraph (a) M4 substitute—
“(a)is an investment firm that is required to have initial capital of 730,000 euro or would be required to do so if it had a Part 4A permission;”;
(b)for sub-paragraph (c) substitute—
“(c)is established in a country other than the United Kingdom but would meet the requirement specified in sub-paragraph (a) if P were established in the United Kingdom and had obtained the necessary authorisation in the United Kingdom for its business.”.
Modifications etc. (not altering text)
C1Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)
Commencement Information
I1Reg. 189 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
Marginal Citations
M2Article 3(2) was amended by S.I. 2017/701.
M3Article 3(3) was amended by S.I. 2013/3115.
M4Paragraph (3)(a) was substituted by S.I. 2013/3115.
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