# The Data Reporting Services Regulations 2024, Regulation 12: Consulting the Bank of England

Extent: E+W+S+N.I.

The FCA must consult the Bank of England before—
(a) authorising a recognised clearing house or a recognised CSD to provide a data reporting service;
(b) varying or cancelling a recognised clearing house’s or a recognised CSD’s authorisation to provide a data reporting service;
(c) imposing, varying or withdrawing a restriction on a recognised clearing house’s or a recognised CSD’s authorisation to provide a data reporting service under regulation 13;
(d) publishing a statement under section 312E FSMA 2000 (public censure) as applied by regulation 19 in relation to a contravention by a recognised clearing house or a recognised CSD;
(e) imposing a penalty under section 312F FSMA 2000 (financial penalties) as applied by regulation 19 in relation to a contravention by a recognised clearing house or a recognised CSD;
(f) appointing a person to prepare a report under section 166(3)(b) of FSMA 2000 (reports by skilled persons) as applied by regulation 18 in relation to a recognised clearing house or a recognised CSD;
(g) exercising a power under section 166A(2) of FSMA 2000 (appointment of skilled person to collect and update information) as applied by regulation 18 in relation to a recognised clearing house or a recognised CSD;
(h) appointing a person to carry out an investigation under section 167(1) of FSMA 2000 (appointment of persons to carry out general investigations) as applied by regulation 18 in relation to a recognised clearing house or a recognised CSD;
(i) appointing a person to carry out an investigation under section 168(3) of FSMA 2000 (appointment of persons to carry out investigations in particular cases) as applied by regulation 18 in relation to a recognised clearing house or a recognised CSD;
(j) appointing a person to carry out an investigation under section 169(1)(b) of FSMA 2000 (investigations etc. in support of overseas regulator) as applied by regulation 18 in relation to a recognised clearing house or a recognised CSD.

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Source: https://www.legislation.gov.uk/uksi/2024/107/regulation/12 (the official version)
Page: https://openlegislation.uk/data-reporting-services-regulations-2024/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.