PART 3Amendment of Secondary Legislation
Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 20016
In article 16 of the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (communications required or authorised by enactments)8, omit paragraph (4).
Financial Services and Markets Act 2000 (Financial Promotion) Order 20057
In article 29 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (communications required or authorised by enactments)9, omit paragraph (5).
Financial Services and Markets Act 2000 (Qualifying Provisions) Order 20138
1
The Financial Services and Markets Act 2000 (Qualifying Provisions) Order 201310 is amended as follows.
2
In article 1(2) (interpretation), omit the definition of “ELTIF Regulation”.
3
In article 2 (qualifying provisions: general), in paragraph (2), omit sub-paragraph (i).
4
In article 3 (qualifying provisions: disciplinary measures)—
a
in paragraph (2), omit sub-paragraph (j);
b
in paragraph (3), omit sub-paragraph (h).
5
In article 5 (qualifying provisions: injunctions and restitution)—
a
in paragraph (2), omit sub-paragraph (j);
b
in paragraph (5), omit sub-paragraph (i).
6
In article 6 (qualifying provisions: fees), in paragraph (2), omit sub-paragraph (l).
Alternative Investment Fund Managers Regulations 20139
1
The Alternative Investment Fund Managers Regulations 201311 are amended as follows.
2
In regulation 2(1) (interpretation)12, omit the following definitions—
a
“EEA ELTIF”;
b
“ELTIF Regulation”;
c
“UK LTIF”.
3
Omit Part 3A (LTIFs)13.
4
In regulation 30 (depositary liability for loss of financial instruments held in custody), omit paragraph (7)14.
5
In regulation 32 (depositary liability and third country custodians), omit paragraph (3)15.
6
In regulation 52 (contravention by unauthorised person), in paragraph (1), omit sub-paragraph (c)16.
7
In regulation 53 (contravention by authorised person), in paragraph (1), omit sub-paragraph (c)17.
Payment Card Interchange Fee Regulations 201510
In the Payment Card Interchange Fee Regulations 201518, after regulation 4A (directions: payment card schemes)19, insert—
Directions: co-operation between regulators4B
Power of FCA to require Regulator to refrain from specified action4C
For the purposes of section 101 of the 2013 Act (power of FCA to require the Regulator to refrain from specified action), in section 101(2)—
a
the reference to “this Part” is to be read as including a reference to regulation 4A;
b
the reference to “a participant in a regulated payment system” is to be read as a person referred to in regulation 4A(1).
Payment Accounts Regulations 201511
1
The Payment Accounts Regulations 201522 are amended as follows.
2
In regulation 2(1) (interpretation), omit the following definitions—
a
“fee information document”;
b
“linked services list”;
c
“statement of fees”.
3
In regulation 28(1) (monitoring and enforcement), in sub-paragraph (a), omit “2, ”.
4
In regulation 29(1) (reporting requirements), omit “2, ”.
5
In regulation 30(1) (power to direct payment service providers), omit “2, ”.
6
Omit regulation 40A (technical standards)23.
Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 201712
In regulation 47B of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (statements of policy)24, in paragraph (1)(a), omit paragraph (i).
Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 201813
In Part 1 of the Schedule to the Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (EU Regulations for which the FCA is the appropriate regulator)25, omit paragraph 6A.
EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 201814
In regulation 24 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (Financial Services Compensation Scheme - modifications of Part 15 of the Financial Services and Markets Act 2000)26, in paragraph (2)(b), in the modification of section 213 of the Financial Services and Markets Act 2000—
a
in subsection (9B)(f)—
i
after sub-paragraph (i) omit “, or”;
ii
omit sub-paragraph (ii);
b
in subsection (9C), omit the following definitions—
i
“ELTIF”;
ii
“ELTIF Regulation”.
Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 201915
In regulation 11 of the Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (saving for certain financial services legislation relating to Gibraltar)27, in paragraph (5), omit sub-paragraph (m).