[194D Contravention by relevant EEA firm of requirement in insurance distribution directive: appropriate regulator primarily responsible for securing compliance]
[194D Contravention by relevant EEA firm of requirement in insurance distribution 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 to which Article 8.1 of the insurance distribution directive applies.

(2)     The appropriate regulator may exercise its powers of intervention in respect of the relevant EEA firm.

(3)     Subsection (2) applies whether or not the appropriate regulator's power of intervention is also exercisable as a result of section 194, 195 or 195C.

(4)     If the appropriate regulator exercises its power in respect of the relevant EEA firm by virtue of subsection (2), it must notify the home state regulator, the Commission and EIOPA without undue delay of—