The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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1 Citation, commencement, extent and interpretation
(1) These Regulations may be cited as the Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025. (2) These Regulations come into force on 1st January 2026. (3) These Regulations extend to England and Wales, Scotland and Northern Ireland. (4) In these Regulations— “Agreement” means the Agreement between the United Kingdom of Great Britain and Northern Ireland and the Swiss Confederation on Mutual Recognition in Financial Services concluded on 21st December 2023 at Berne, as amended from time to time; “Covered Financial Services Supplier” has the meaning given to that term in Article 1(b) of the Agreement; “Covered Sectors” has the meaning given to that term in Article 1(d) of the Agreement; “FINMA” means the Swiss Financial Market Supervisory Authority; “FSMA 2023” means the Financial Services and Markets Act 2023; “register” means the register maintained by the FCA under regulation 8; “registered service” means a service which is included in the entry for a registered Swiss supplier on the register; “registered Swiss supplier” means a relevant Swiss supplier who is included in the register; “relevant Swiss supplier” means a person that satisfies the criteria specified in Annex 5 Section IV paragraph A.a to d. of the Agreement; “the Tribunal” has the meaning given to that term in section 417(1) of FSMA 2000; “UK regulator” means— the FCA, or the PRA. (5) A requirement in these Regulations to give notice is a requirement to give notice in writing. (6) Any word or expression which is not defined in these Regulations and which is defined in the Agreement has the same meaning as in the Agreement.
1 Citation, commencement, extent and interpretation
(1) These Regulations may be cited as the Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025. (2) These Regulations come into force on 1st January 2026. (3) These Regulations extend to England and Wales, Scotland and Northern Ireland. (4) In these Regulations— “Agreement” means the Agreement between the United Kingdom of Great Britain and Northern Ireland and the Swiss Confederation on Mutual Recognition in Financial Services concluded on 21st December 2023 at Berne, as amended from time to time; “Covered Financial Services Supplier” has the meaning given to that term in Article 1(b) of the Agreement; “Covered Sectors” has the meaning given to that term in Article 1(d) of the Agreement; “FINMA” means the Swiss Financial Market Supervisory Authority; “FSMA 2023” means the Financial Services and Markets Act 2023; “register” means the register maintained by the FCA under regulation 8; “registered service” means a service which is included in the entry for a registered Swiss supplier on the register; “registered Swiss supplier” means a relevant Swiss supplier who is included in the register; “relevant Swiss supplier” means a person that satisfies the criteria specified in Annex 5 Section IV paragraph A.a to d. of the Agreement; “the Tribunal” has the meaning given to that term in section 417(1) of FSMA 2000; “UK regulator” means— the FCA, or the PRA. (5) A requirement in these Regulations to give notice is a requirement to give notice in writing. (6) Any word or expression which is not defined in these Regulations and which is defined in the Agreement has the same meaning as in the Agreement.
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