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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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194A. Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: appropriate regulator primarily responsible for securing compliance

Omitted from 31 December 2020

(1) This section applies if -

(a) a relevant EEA firm has a branch in the United Kingdom; and

(b) the appropriate regulator ascertains that the firm has contravened, or is contravening, a requirement falling within subsection (3) (in a case to which Article 86.2 of the markets in financial instruments directive applies).

(2) "Relevant EEA firm" means an EEA firm falling within paragraph 5(a) or (b) of Schedule 3 which is exercising in the United Kingdom an EEA right deriving from the markets in financial instruments directive.

(3) A requirement falls within this subsection if it is imposed on the firm -

(a) by any provision of or made under this Act which implements the markets in financial instruments directive;

(aa) by or under any provision of the markets in financial instruments regulation; or

(b) by any directly applicable EU regulation made under that directive or the markets in financial instruments regulation.

(4) The Authority must give the firm written notice which -

(a)

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