Schedule 10, paragraph 8(4)

In paragraph 1— in the opening words, for “shall” substitute “ may ”, for points (a) and (b) substitute— the FCA has well-founded reasons based on documented evidence to believe that— in the provision of investment services and the performance of investment activities in the United Kingdom, the third-country firm is acting in a manner which is clearly prejudicial to the interests of investors or the orderly functioning of markets, in the provision of such services and activities in the United Kingdom, the third-country firm has seriously infringed a provision applicable to it in the third country and on the basis of which the Treasury made regulations under Article 47(1), in the provision of such services and activities in the United Kingdom, the third-country firm has seriously infringed a requirement imposed under Article 48A, or the third-country firm is not maintaining the necessary arrangements and procedures to provide the information required by rules made under Article 46(6B) or to comply with requirements under Article 48A, and omit point (d) (and the “and” before it).

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Source: legislation.gov.uk · retrieved 2026-09-04