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The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019

S.I. 2019/266 · Made 13 February 2019 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 1 January 2024.

Exiting The European Union

Financial Services And Markets

Made 13th February 2019

Coming into force in accordance with regulation 1(2) and (3)

F1The Treasury make the following Regulations in exercise of the powers conferred by section 8(1) of, and paragraph 21 of Schedule 7 to, the European Union (Withdrawal) Act 2018 M1.

In accordance with paragraph 1(1) and (2) of Schedule 7 to the European Union (Withdrawal) Act 2018, a draft of these Regulations has been laid before, and approved by a resolution of, each House of Parliament.C1C2

Annotations to the whole text

Textual amendments

F1

Regulations revoked (1.1.2024 for the revocation of reg. 3(3)) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/779, reg. 5(c)(iii)

Marginal citations

M1

2018 c. 16.

Modifications

C1

Regulations modified (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)

C2

Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)

Contents

  1. Part 1: General provision
  2. 1Citation and commencement
  3. 2Interpretation
  4. Part 2: Rules and Guidance
  5. 3Rules
  6. 4Rules: procedure, etc.
  7. 5Guidance
  8. 6Guidance: procedure, etc.
  9. Part 3: Enforcement
  10. Chapter 1: Penalties
  11. 7Financial penalties
  12. 8Statement of policy
  13. 9Statement of policy: procedure
  14. Chapter 2: Public censure
  15. 10Public censure
  16. Chapter 3: Financial penalties and public censure: procedure
  17. 11Warning notice
  18. 12Decision notice
  19. 13Duty on publication of statement
  20. Chapter 4: Financial penalties: supplemental
  21. 14Deduction of enforcement costs, etc.
  22. Part 4: References and applications to a tribunal
  23. 15Right to refer a decision to the Upper Tribunal
  24. 16Hearings and appeals before the Upper Tribunal
  25. 17Application to a court for an injunction
  26. Part 5: Information
  27. 18Information gathering and investigations
  28. Part 6: Notices
  29. 19Notices
  30. 20Meaning of “consumer”
  31. Part 7: Offences
  32. 21Offence of misleading FCA
  33. 22Offences by bodies corporate
  34. 23Proceedings for offences
  35. Part 8: Transitional Provisions
  36. Chapter 1: Advance applications
  37. 24Advance application for registration as a credit rating agency
  38. 25Assessment of whether an advance application is complete
  39. 26Determination of an advance application
  40. 27Effect of determining an advance application
  41. Chapter 2: Temporary registration
  42. 28Temporary deemed registration under the CRA Regulation
  43. 29Application of regulation 28
  44. 30Conditions to be satisfied for regulation 28 to apply
  45. 31Period during which regulation 28 is to apply
  46. 32Cessation following a determination by the FCA
  47. Chapter 3: Registration conversion
  48. 33Registration under the CRA Regulation
  49. 34Application of regulation 33
  50. 35Conditions to be satisfied for regulation 33 to apply
  51. 36Notification for registration
  52. 37Acknowledgement of receipt
  53. 38FCA's response
  54. Chapter 4: Certification conversion
  55. 39Certification under the CRA Regulation
  56. 40Application of regulation 39
  57. 41Condition to be satisfied for regulation 39 to apply
  58. 42Notification for certification
  59. 43Acknowledgement of receipt
  60. 44FCA's response
  61. Chapter 5: General provision
  62. 45Misleading the FCA: criminal offence
  63. 46Offences by bodies corporate
  64. 46AFurther information to be supplied
  65. 47Duty to disclose information
  66. 47AFCA power to require information from a person to whom this regulation applies
  67. 48Directions
  68. 49Interpretation of Part 8
  69. Part 9: Amendment of subordinate legislation
  70. 50Amendment of the Credit Rating Agencies Regulations 2010
  71. Part 10: Amendment of retained direct EU legislation
  72. 51Amendment of Regulation (EC) No 1060/2009
  73. 52Regulation 52
  74. 53Regulation 53
  75. 54Regulation 54
  76. 55Regulation 55
  77. 56Regulation 56
  78. 57Regulation 57
  79. 58Regulation 58
  80. 59Regulation 59
  81. 60Regulation 60
  82. 61Regulation 61
  83. 62Regulation 62
  84. 63Regulation 63
  85. 64Regulation 64 Not yet in force
  86. 65Regulation 65
  87. 66Regulation 66
  88. 67Regulation 67
  89. 68Regulation 68
  90. 69Regulation 69
  91. 70Regulation 70
  92. 71Regulation 71
  93. 72Regulation 72
  94. 73Regulation 73
  95. 74Regulation 74
  96. 75Regulation 75
  97. 76Regulation 76
  98. 77Regulation 77
  99. 78Regulation 78
  100. 79Regulation 79
  101. 80Regulation 80
  102. 81Regulation 81
  103. 82Regulation 82
  104. 83Regulation 83
  105. 84Regulation 84
  106. 85Regulation 85
  107. 86Regulation 86
  108. 87Regulation 87
  109. 88Regulation 88
  110. 89Regulation 89
  111. 90Regulation 90
  112. 91Regulation 91
  113. 92Regulation 92
  114. 93Regulation 93
  115. 94Regulation 94
  116. 95Regulation 95
  117. 96Regulation 96
  118. 97Regulation 97
  119. 98Regulation 98
  120. 99Regulation 99
  121. 100Regulation 100
  122. 101Revocation of Commission Delegated Regulation (EU) No. 272/2012
  123. 102Revocation of Commission Delegated Regulation (EU) No. 946/2012
  124. Signature
  125. Explanatory note