[194A Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: [appropriate regulator] primarily responsible for securing compliance]
[194A Contravention by relevant EEA firm with UK branch of requirement under markets in financial instruments directive: [appropriate regulator] primarily responsible for securing compliance]

[(1)     This section applies if—

(a)     a relevant EEA firm has a branch in the United Kingdom; and

(b)     [the appropriate regulator] ascertains that the firm has contravened, or is contravening, a requirement falling within subsection (3) (in a case to which Article [86.2] of the markets in financial instruments directive applies).

(2)     “Relevant EEA firm” means an EEA firm falling within paragraph 5(a) or (b) of Schedule 3 which is exercising in the United Kingdom an EEA right deriving from the markets in financial instruments directive.

(3)     A requirement falls within this subsection if it is imposed on the firm—

(a)     by any provision of or made under this Act which implements the markets in financial instruments directive; . . .

[(aa)     by or under any provision of the markets in financial instruments regulation; or]

(b)     by any directly applicable [EU] regulation made under that directive [or the markets in financial instruments regulation].

(4)     [The appropriate regulator] must give the firm written notice which—

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203 . . .