Section 32(11)

References to “UK law on markets in financial instruments” are to the law of the United Kingdom which was relied on by the United Kingdom immediately before IP completion day to implement Directive 2014/65/EU and its implementing measures— as they have effect on IP completion day, in the case of rules made by the FCA or by the PRA under the Act; as amended from time to time, in all other cases.

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