SCHEDULES

SCHEDULE 4EEA passport rights and treaty rights

PART 1Amendments of Schedule 3 to FSMA 2000: EEA passport rights

Exercise of passport rights by UK firms

I1I210

1

Paragraph 19 (establishment) is amended as follows.

2

For “Authority”, in each place, substitute “ appropriate UK regulator ”.

3

After sub-paragraph (7B) insert—

7C

Where the PRA is the appropriate UK regulator, it must consult the FCA before deciding whether to give a consent notice, except where sub-paragraph (7A) applies.

7D

Where the FCA is the appropriate UK regulator, it must consult the PRA before deciding whether to give a consent notice in relation to a UK firm whose immediate group includes a PRA-authorised person.