The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2021

Saving for amendment of existing technical standards instruments made by the Financial Conduct AuthorityU.K.

This section has no associated Explanatory Memorandum

34.  Notwithstanding the amendment of Article 124(4) of the Capital Requirements Regulation(1) by regulation [F125(16)] of these Regulations which removes the power of the FCA to make, modify, amend or revoke technical standards, the Financial Conduct Authority (“FCA”) retains the power to modify, amend or revoke any technical standards in force immediately before 1 January 2022 which were—

(a)adopted by the European Commission before IP completion day, or

(b)made by the FCA after IP completion day,

under those Articles.

Textual Amendments

Commencement Information

I1Reg. 34 in force at 1.1.2022, see reg. 1(3)

(1)

“the Capital Requirements Regulation” is defined in section 47 of the Financial Services Act 2021 (c. 22).