The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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Change 1
4 Provision of advice, support and assistance by the FCA, the PRA and the Bank of England
(1) Each relevant regulator must, at the request of the Treasury, provide such information, advice, support and assistance as the Treasury reasonably require to perform the Treasury’s functions in connection with the functioning of the Agreement. (2) A request under paragraph (1) must be made by notice, specifying— (a) the information, advice, support and assistance which must be provided, (b) the form and manner in which it must be provided, and (c) a reasonable period within which it must be provided. (3) Before issuing a notice under paragraph (2), the Treasury must— (a) consult the relevant regulator to which the notice is addressed, and (b) have regard to the expertise of the relevant regulator and the need to protect its operational independence. (4) Each relevant regulator may otherwise provide such information, advice, support and assistance to the Treasury as they each consider appropriate in relation to the functioning of the Agreement. (5) In this regulation, the “functioning of the Agreement” includes— (a) the conduct of any dispute relating to the functioning of the Agreement, and (b) any winding down arrangements made under Article 22 (wind down arrangements) of the Agreement, including any equivalent arrangements made under Chapter 7 of Part 4 of these Regulations.
4 Provision of advice, support and assistance by the FCA, the PRA and the Bank of England
(1) Each relevant regulator must, at the request of the Treasury, provide such information, advice, support and assistance as the Treasury reasonably require to perform the Treasury’s functions in connection with the functioning of the Agreement. (2) A request under paragraph (1) must be made by notice, specifying— (a) the information, advice, support and assistance which must be provided, (b) the form and manner in which it must be provided, and (c) a reasonable period within which it must be provided. (3) Before issuing a notice under paragraph (2), the Treasury must— (a) consult the relevant regulator to which the notice is addressed, and (b) have regard to the expertise of the relevant regulator and the need to protect its operational independence. (4) Each relevant regulator may otherwise provide such information, advice, support and assistance to the Treasury as they each consider appropriate in relation to the functioning of the Agreement. (5) In this regulation, the “functioning of the Agreement” includes— (a) the conduct of any dispute relating to the functioning of the Agreement, and (b) any winding down arrangements made under Article 22 (wind down arrangements) of the Agreement, including any equivalent arrangements made under Chapter 7 of Part 4 of these Regulations.
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