We set the framework to allow consumers to decide what to do with this. Sub-paragraph (3B) was inserted by S.I. “The insurance distribution directive” means Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution (recast)(26) as amended by Directive (EU) 2018/411 of the European Parliament and of the Council of 14 March 2018(27).”. (10) If circumstances exist which enable the appropriate regulator to exercise its power of intervention under subsection (4), the appropriate regulator may refer the matter to EIOPA and request its assistance in accordance with Article 19 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority)(20). The changes do not cause any new costs for business, as the regulatory framework for alternative finance investment bonds has been in place since 2007. 2007/3288. “relevant insurer” has the meaning given in article 39B(2) (claims management on behalf of an insurer etc.). (b)vary it on its own initiative or on the application of the firm to which it relates. On 21 March 2018, Mintos amended its application to seek permission to operate an electronic system in relation to lending (Article 36H RAO). 2003/1476 and amended by S.I. (a)in sub-paragraph (1)(32), in the words before sub-paragraph (a), after “(d)” insert “, (e)”; “(ca)in the case of a firm falling within paragraph 5(e), the firm has been informed of the applicable provisions or one month has elapsed beginning with the date on which the appropriate UK regulator received the consent notice”; (d)in sub-paragraph (2)(b)(34), after “5(a)” insert “, (e)”. There are amendments but none are relevant. 2015/910. A draft of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2018 has been published on legislation.gov.uk. I think I should just sit down now. The first one, the draft Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2018, relates to the admission of alternative finance investment bonds to different trading venues, as the Minister said, including multilateral trading facilities and organised trading facilities. This section applies where a supervisory notice, decision notice or final notice relates to the imposition of a sanction or measure to which Article 32 of the insurance distribution directive applies. I hope the House will have a brief opportunity to consider it in due course. This does not apply to all members of CILEx, but only those that have been specifically authorised by CILEx Regulation. (5) In article 6(2) (qualifying EU provisions: fees), after sub-paragraph (p) insert—. (3) In subsection (2)(b) “objectives”, in relation to the FCA, means operational objectives. in relation to a contravention of a requirement imposed by any directly applicable regulation made under the insurance distribution directive, the FCA. Now therefore, it is hereby Ordered as follows: The staff considered that this objective should be focused on the effects that the transactions or other events that give rise to regulatory timing … 3 Amendments to the Regulated Activities Order 2011 It is important that the standards of Explanatory Memoranda are held to a high level. 2015/910. Section 384(7) was amended by S.I. That is a general principle to which the Government should always adhere. The condition specified in this paragraph is that the provider of the information does not take any step other than the provision of information to assist in the conclusion of a contract of insurance. 11. In making a determination as to whether a person is a fit and proper person for the purposes of paragraph (1), the FCA must consider whether the relevant registration conditions under Article 3 of the insurance distribution directive are met. (3) In article 3 (qualifying EU provisions: disciplinary measures)—. in any other case, where it decides that immediate action is necessary to protect the interests of consumers. There are currently no special provisions in the Act or related legislation such as the Regulated Activities Order dealing expressly and specifically with the treatment of third country investment firms and third country credit institutions under the general prohibition after the … 6:00 pm, Regulation of Care (Regulated Activities) (Jersey) Regulations 2018. The noble Baroness asked whether a sukuk could be an asset-backed security as they are not always a sovereign bond. The Government have no current plans to do so, but will revisit the topic later. (a) Subsections (10B) and (12A) of section 21 was inserted by section 27(3) of the Financial Guidance and Claims Act 2018 (c. 10) (“the 2018 Act”). 2012/916. (5) In paragraph 6(a) (EEA authorisation)(29), for “insurance mediation directive” substitute “insurance distribution directive”. The committee was unpersuaded that the changes to the law made by the proposed order are so urgent that they must have immediate effect. 2012/1906. where the relevant EEA firm is a PRA-authorised person, the FCA or the PRA; “relevant EEA firm” means an EEA firm falling within paragraph 5(e) of Schedule 3 which is exercising in the United Kingdom an EEA right deriving from the insurance distribution directive.”. Paragraphs (4) and (5) were inserted by S.I. (7) In paragraph 10A(a) (UK firm)(31), for “insurance mediation directive” substitute “insurance distribution directive”. Being slotted in completeness and accuracy him in another place, where it decides that immediate action necessary! 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