REC 4.2B Exercise of passport rights by a UK RIE

1Under section 312C of the Act, if a UK RIE wishes to make arrangements in an EEA State other than the UK to facilitate access to or use of a regulated market,2 multilateral trading facility or auction platform2 operated by it, it must give the FCA 3written notice of its intention to do so. The notice must:

1. (1)

   describe the arrangements; and

2. (2)

   identify the EEA State in which the UK RIE intends to make them.

The FCA3 must, within one month of receiving the UK RIE's notice, send a copy of it to the Host State regulator.

The UK RIE may not make the arrangements until the FCA3 has sent a copy of the notice to the Host State regulator.

The requirements that a UK RIE must give the FCA3 written notice and the UK RIE may not make the arrangements until the FCA3 has sent a copy of it to the Host State regulator do not apply to arrangements made by a UK RIE on or before 31 October 2007.