On 31 November 2022, HM Treasury published the Financial Services and Markets Act 2000 (Qualifying Provisions) (Amendments) Order 2022.

This Order makes amendments to the Financial Services and Markets Act 2000 (Qualifying Provisions) Order 2013 (QUPO) which identifies provisions of EU law which are specified as qualifying provisions for the purposes of various provisions in the Financial Services and Markets Act 2000 (FSMA).

The purpose of this Order is to specify rules made under the Regulation on Packaged Retail Investment Products (PRIIPs Regulation), the Markets in Financial Instruments Regulation (MiFIR) and the European Market Infrastructure Regulation (EMIR) as qualifying provisions for the purposes of various provisions in FSMA.

The amendments establish a definition for MiFIR and enable the appropriate regulator to take enforcement action for breaches of requirements established by rules under the PRIIPs Regulation, MiFIR and EMIR.