The Financial Services and Markets Act 2023 (Mutual Recognition Agreement) (Switzerland) Regulations 2025
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Change 1
8 The register of registered Swiss suppliers
(1) The FCA must maintain a register containing an entry for every relevant Swiss supplier that meets the conditions in paragraph (2). (2) The conditions are that— (a) the relevant Swiss supplier has applied for entry in the register, and (b) FINMA has informed the FCA that it is satisfied that the relevant Swiss supplier— (i) fulfills the eligibility requirements for Covered Financial Services Suppliers in Annex 5 Section IV paragraph A.a to d and f of the Agreement, and (ii) is of good standing. (3) The FCA may require an application for registration to be submitted in such form as the FCA may direct. (4) The FCA must create an entry for a relevant Swiss supplier before the end of a period of 30 days beginning with the day on which— (a) the FCA is informed by FINMA that the conditions in regulation 8(2)(b) are satisfied in relation to that relevant Swiss supplier, or (b) if later, the FCA has received from FINMA all the information required for the entry. (5) Each entry on the register must include such information as the FCA considers appropriate in relation to the relevant Swiss supplier and at least the following information— (a) its name, and (b) information as to the relevant services which the relevant Swiss supplier intends to provide in the United Kingdom, including, for each service— (i) a description of the category of relevant clients to whom the relevant service is to be provided, and (ii) a list of the relevant financial instruments in relation to which the relevant service is to be provided. (6) Where a relevant Swiss supplier has permission to carry out a regulated activity under Part 4A of FSMA 2000 (permission to carry on regulated activities), the entry for that relevant Swiss supplier on the register may not include any relevant service which is the same as or which corresponds to that regulated activity.
8 The register of registered Swiss suppliers
(1) The FCA must maintain a register containing an entry for every relevant Swiss supplier that meets the conditions in paragraph (2). (2) The conditions are that— (a) the relevant Swiss supplier has applied for entry in the register, and (b) FINMA has informed the FCA that it is satisfied that the relevant Swiss supplier— (i) fulfills the eligibility requirements for Covered Financial Services Suppliers in Annex 5 Section IV paragraph A.a to d and f of the Agreement, and (ii) is of good standing. (3) The FCA may require an application for registration to be submitted in such form as the FCA may direct. (4) The FCA must create an entry for a relevant Swiss supplier before the end of a period of 30 days beginning with the day on which— (a) the FCA is informed by FINMA that the conditions in regulation 8(2)(b) are satisfied in relation to that relevant Swiss supplier, or (b) if later, the FCA has received from FINMA all the information required for the entry. (5) Each entry on the register must include such information as the FCA considers appropriate in relation to the relevant Swiss supplier and at least the following information— (a) its name, and (b) information as to the relevant services which the relevant Swiss supplier intends to provide in the United Kingdom, including, for each service— (i) a description of the category of relevant clients to whom the relevant service is to be provided, and (ii) a list of the relevant financial instruments in relation to which the relevant service is to be provided. (6) Where a relevant Swiss supplier has permission to carry out a regulated activity under Part 4A of FSMA 2000 (permission to carry on regulated activities), the entry for that relevant Swiss supplier on the register may not include any relevant service which is the same as or which corresponds to that regulated activity.
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