The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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Change 1
13 Product intervention powers
(1) Section 137D of FSMA 2000 (FCA general rules: product intervention) has effect as if the references in that section to authorised persons included a reference to registered Swiss suppliers. (2) Rules made under section 137D of FSMA 2000 by virtue of paragraph (1) by the FCA are to be treated as if they were general rules made by the FCA under section 137A of FSMA 2000 (the FCA’s general rules) and, for these purposes, references in section 137A to “authorised persons” include a reference to registered Swiss suppliers. (3) Section 137T of FSMA 2000 (general supplementary powers) and Chapter 2 of Part 9A of FSMA 2000 (rules: modification, waiver, contravention and procedural provisions) apply in relation to rules made under section 137D of FSMA 2000 by virtue of paragraph (1) as they apply to general rules. (4) Sections 205 (public censure), 206 (financial penalties), 207 (proposal to take disciplinary measures), 208 (decision notice) and 380 (injunctions) of FSMA 2000 apply in relation to a requirement imposed by the FCA in rules made under section 137D of FSMA 2000 by virtue of paragraph (1), as if— (a) the requirement were a relevant requirement (within the meaning of section 204A or section 380(6) of FSMA 2000), and (b) the references in sections 205 to 208 of FSMA 2000 to an authorised person include a reference to a registered Swiss supplier.
13 Product intervention powers
(1) Section 137D of FSMA 2000 (FCA general rules: product intervention) has effect as if the references in that section to authorised persons included a reference to registered Swiss suppliers. (2) Rules made under section 137D of FSMA 2000 by virtue of paragraph (1) by the FCA are to be treated as if they were general rules made by the FCA under section 137A of FSMA 2000 (the FCA’s general rules) and, for these purposes, references in section 137A to “authorised persons” include a reference to registered Swiss suppliers. (3) Section 137T of FSMA 2000 (general supplementary powers) and Chapter 2 of Part 9A of FSMA 2000 (rules: modification, waiver, contravention and procedural provisions) apply in relation to rules made under section 137D of FSMA 2000 by virtue of paragraph (1) as they apply to general rules. (4) Sections 205 (public censure), 206 (financial penalties), 207 (proposal to take disciplinary measures), 208 (decision notice) and 380 (injunctions) of FSMA 2000 apply in relation to a requirement imposed by the FCA in rules made under section 137D of FSMA 2000 by virtue of paragraph (1), as if— (a) the requirement were a relevant requirement (within the meaning of section 204A or section 380(6) of FSMA 2000), and (b) the references in sections 205 to 208 of FSMA 2000 to an authorised person include a reference to a registered Swiss supplier.
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