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<p>The European Union (Withdrawal) Act 2018 (EUWA) repeals the European Communities
Act 1972 on the day the UK leaves the EU and incorporates into UK domestic law the
existing body of directly applicable EU law. The purpose of the EUWA is to provide
a functioning statute book on the day we leave the EU.</p><p>In some instances, the
retained EU law relating to financial services includes provisions that relate to
thresholds measuring the proportion of the entire EU market or a specified number
or grouping of member states. We are aware of four provisions in the Markets in Financial
Instruments Regulations (MiFIR) (Article 5(1)(a) and 1(b), and subparagraphs (3)-(6)
and subparagraph (9), Article 9(5), Article 14(5), Article 36(5)), five provisions
in the Commission Delegated Regulation amending MiFID 565/2017 (Article 12 to 16)
and one provision in the Commission Delegated Regulation 2017/567 (Article 5(1)(a)
and (b)).</p>
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