Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 13 Criteria for modifying or terminating an established AMP

In determining whether to terminate an established AMP or propose modification of the conditions of its acceptance, the Financial Conduct Authority shall have regard to:

  1. (a)

    the extent to which the beneficiaries or the persons performing the AMP have complied with the conditions established under that AMP;

  2. (b)

    the extent to which the conduct of the beneficiaries or the persons performing an AMP has resulted in any of the criteria set out in Article 13(2) of Regulation (EU) No 596/2014 no longer being met;

  3. (c)

    the extent to which the AMP has not been used by market participants for a period of time;

  4. (d)

    whether a significant change in the relevant UK market environment referred to in Article 13(8) of Regulation (EU) No 596/2014 results in any of the conditions for establishing the AMP being no longer possible to meet or being not necessary to be met, considering in particular:

    1. (i)

      whether the objective of the AMP has become unfeasible;

    2. (ii)

      whether the continued use of the established AMP might adversely affect the integrity or efficiency of the markets under the supervision of the Financial Conduct Authority;

  5. (e)

    whether there exists a situation falling within any general termination provision included in the established AMP itself.