The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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Change 1
44 Consequences of breach of prohibition, condition or restriction
(1) Sections 205 (public censure), 207 (proposal to take disciplinary measures) and 208 (decision notice) of FSMA 2000 apply in relation to a prohibition, condition or restriction imposed by a UK regulator under regulation 41(4), as if— (a) the prohibition, condition or restriction were a relevant requirement (within the meaning of section 204A of FSMA 2000), and (b) the references in sections 205, 207 and 208 to an authorised person include a person who is a registered Swiss supplier with the following modifications. (2) Section 207 of FSMA 2000 applies as if subsections (1)(b) and (c), (1A), (3) and (4) were omitted. (3) Section 208 of FSMA 2000 applies as if subsections (1)(b) and (c), (1A), (3), (3A), (4)(b) and (c), and (5) were omitted.
44 Consequences of breach of prohibition, condition or restriction
(1) Sections 205 (public censure), 207 (proposal to take disciplinary measures) and 208 (decision notice) of FSMA 2000 apply in relation to a prohibition, condition or restriction imposed by a UK regulator under regulation 41(4), as if— (a) the prohibition, condition or restriction were a relevant requirement (within the meaning of section 204A of FSMA 2000), and (b) the references in sections 205, 207 and 208 to an authorised person include a person who is a registered Swiss supplier with the following modifications. (2) Section 207 of FSMA 2000 applies as if subsections (1)(b) and (c), (1A), (3) and (4) were omitted. (3) Section 208 of FSMA 2000 applies as if subsections (1)(b) and (c), (1A), (3), (3A), (4)(b) and (c), and (5) were omitted.
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