for an incoming EEA firm or an incoming Treaty firm, the Principles apply only in so far as responsibility for the matter in question is not reserved by an EU4 instrument to the firm's Home State regulator;4
- (2) 812
- (4) 11
with the exception of Principle 4, and only in so far as responsibility for the matter in question is not reserved by the Payment Services Directive, Electronic Money Directive or other EU instrument to the person’s Home State regulator, to an EEA authorised electronic money institution, an EEA authorised payment institution and an EEA registered account information service provider.
2A firm or other person17 will not be subject to a Principle to the extent that it would be contrary to the requirements of an EU measure passed or made before exit day, to the extent that those requirements continue to have effect after exit day under the EUWA.UK's obligations under an EU4 instrument.334
3The Principles will not apply to the extent that they purport to impose an obligation which is inconsistent with the Payment Services Directive, the11 Consumer Credit Directive10 or the Electronic Money Directive.5 For example, there may be circumstances in which Principle 6 may be limited by the harmonised conduct of business obligations applied by the Payment Services Directive and the14 Electronic Money Directive5 to payment service providers and electronic money issuers17 (see Parts 6 and 714 of the Payment Services Regulations and Part 5 of the Electronic Money Regulations) or applied by the Consumer Credit Directive (see, for example, the information requirements in the Consumer Credit (Disclosure of Information) Regulations 2010 (SI 2010/1013)).1055