The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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Change 1
36 Disciplinary measures
(1) Section 205 (public censure) of FSMA 2000 applies in relation to the requirements specified in paragraph (5) as if— (a) each of those requirements were a relevant requirement (within the meaning of section 204A of FSMA 2000), and (b) the references in section 205 of FSMA 2000 to an authorised person include a person to whom regulation 22 applies. (2) In relation to statements under section 205 of FSMA 2000 as applied by paragraph (1)— (a) section 207 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(b) and (c), (1A), (3) and (4) were omitted, and (b) section 208 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(b) and (c), (1A), (3), (3A), (4)(b) and (c), and (5) were omitted. (3) Sections 206 (financial penalties) and 380 (injunctions) of FSMA 2000 apply to requirements specified in paragraph (5)(c) and (d)(i) as if— (a) each of those requirements were a relevant requirement (within the meaning of section 204A and section 380(1) of FSMA 2000), and (b) the references in section 206 of FSMA 2000 to an authorised person include a person to whom regulation 22 applies. (4) In relation to penalties under section 206 of FSMA 2000 as applied by paragraph (3)— (a) section 207 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(a) and (c), (1A), (2) and (4) were omitted, and (b) section 208 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(a) and (c), (1A), (2), (3A), (4)(a) and (c), and (5) were omitted. (5) The requirements referred to in paragraphs (1) and (3) are— (a) the requirements imposed by regulations 26, 27 and 28, (b) any restrictions or conditions imposed under regulation 30, (c) any rules made under section 137D of FSMA 2000 which apply to a person to whom regulation 22 applies by virtue of regulation 34, or (d) any requirements imposed under— (i) section 165, 166 or 175 of FSMA 2000 as applied by regulation 35(a), (b) and (c), or (ii) section 177 of FSMA 2000, as applied by regulation 35(d), in connection with a rule made under section 137D of FSMA 2000 which applies to a person to whom regulation 22 applies by virtue of regulation 34(1).
36 Disciplinary measures
(1) Section 205 (public censure) of FSMA 2000 applies in relation to the requirements specified in paragraph (5) as if— (a) each of those requirements were a relevant requirement (within the meaning of section 204A of FSMA 2000), and (b) the references in section 205 of FSMA 2000 to an authorised person include a person to whom regulation 22 applies. (2) In relation to statements under section 205 of FSMA 2000 as applied by paragraph (1)— (a) section 207 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(b) and (c), (1A), (3) and (4) were omitted, and (b) section 208 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(b) and (c), (1A), (3), (3A), (4)(b) and (c), and (5) were omitted. (3) Sections 206 (financial penalties) and 380 (injunctions) of FSMA 2000 apply to requirements specified in paragraph (5)(c) and (d)(i) as if— (a) each of those requirements were a relevant requirement (within the meaning of section 204A and section 380(1) of FSMA 2000), and (b) the references in section 206 of FSMA 2000 to an authorised person include a person to whom regulation 22 applies. (4) In relation to penalties under section 206 of FSMA 2000 as applied by paragraph (3)— (a) section 207 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(a) and (c), (1A), (2) and (4) were omitted, and (b) section 208 of FSMA 2000 applies as if— (i) references to an authorised person include a person to whom regulation 22 applies, and (ii) subsections (1)(a) and (c), (1A), (2), (3A), (4)(a) and (c), and (5) were omitted. (5) The requirements referred to in paragraphs (1) and (3) are— (a) the requirements imposed by regulations 26, 27 and 28, (b) any restrictions or conditions imposed under regulation 30, (c) any rules made under section 137D of FSMA 2000 which apply to a person to whom regulation 22 applies by virtue of regulation 34, or (d) any requirements imposed under— (i) section 165, 166 or 175 of FSMA 2000 as applied by regulation 35(a), (b) and (c), or (ii) section 177 of FSMA 2000, as applied by regulation 35(d), in connection with a rule made under section 137D of FSMA 2000 which applies to a person to whom regulation 22 applies by virtue of regulation 34(1).
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