OpenLegislation

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

Draft. This instrument was laid in draft and may differ from the one made. Look for the made version under its title.

Draft 2019, ISBN 9780111176696

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Draft regulations laid before Parliament under paragraph 1(1) and (2) of Schedule 7 to the European Union (Withdrawal) Act 2018, for approval by resolution of each House of Parliament.

Exiting The European Union

Financial Services And Markets

Made ***

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

The 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 2018f1.

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.

Annotations to the whole text

Footnotes

f1

2018 c. 16.

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. 47Further information to be supplied by a person to whom regulation 28, 33 or 39 applies
  65. 48Directions
  66. 49Interpretation of Part 8
  67. Part 9: Amendment of subordinate legislation
  68. 50Amendment of the Credit Rating Agencies Regulations 2010
  69. Part 10: Amendment of retained direct EU legislation
  70. 51Amendment of Regulation (EC) No 1060/2009
  71. 52Amendment of Regulation (EC) No 1060/2009
  72. 53Amendment of Regulation (EC) No 1060/2009
  73. 54Amendment of Regulation (EC) No 1060/2009
  74. 55Amendment of Regulation (EC) No 1060/2009
  75. 56Amendment of Regulation (EC) No 1060/2009
  76. 57Amendment of Regulation (EC) No 1060/2009
  77. 58Amendment of Regulation (EC) No 1060/2009
  78. 59Amendment of Regulation (EC) No 1060/2009
  79. 60Amendment of Regulation (EC) No 1060/2009
  80. 61Amendment of Regulation (EC) No 1060/2009
  81. 62Amendment of Regulation (EC) No 1060/2009
  82. 63Amendment of Regulation (EC) No 1060/2009
  83. 64Amendment of Regulation (EC) No 1060/2009
  84. 65Amendment of Regulation (EC) No 1060/2009
  85. 66Amendment of Regulation (EC) No 1060/2009
  86. 67Amendment of Regulation (EC) No 1060/2009
  87. 68Amendment of Regulation (EC) No 1060/2009
  88. 69Amendment of Regulation (EC) No 1060/2009
  89. 70Amendment of Regulation (EC) No 1060/2009
  90. 71Amendment of Regulation (EC) No 1060/2009
  91. 72Amendment of Regulation (EC) No 1060/2009
  92. 73Amendment of Regulation (EC) No 1060/2009
  93. 74Amendment of Regulation (EC) No 1060/2009
  94. 75Amendment of Regulation (EC) No 1060/2009
  95. 76Amendment of Regulation (EC) No 1060/2009
  96. 77Amendment of Regulation (EC) No 1060/2009
  97. 78Amendment of Regulation (EC) No 1060/2009
  98. 79Amendment of Regulation (EC) No 1060/2009
  99. 80Amendment of Regulation (EC) No 1060/2009
  100. 81Amendment of Regulation (EC) No 1060/2009
  101. 82Amendment of Regulation (EC) No 1060/2009
  102. 83Amendment of Regulation (EC) No 1060/2009
  103. 84Amendment of Regulation (EC) No 1060/2009
  104. 85Amendment of Regulation (EC) No 1060/2009
  105. 86Amendment of Regulation (EC) No 1060/2009
  106. 87Amendment of Regulation (EC) No 1060/2009
  107. 88Amendment of Regulation (EC) No 1060/2009
  108. 89Amendment of Regulation (EC) No 1060/2009
  109. 90Amendment of Regulation (EC) No 1060/2009
  110. 91Amendment of Regulation (EC) No 1060/2009
  111. 92Amendment of Regulation (EC) No 1060/2009
  112. 93Amendment of Regulation (EC) No 1060/2009
  113. 94Amendment of Regulation (EC) No 1060/2009
  114. 95Amendment of Regulation (EC) No 1060/2009
  115. 96Amendment of Regulation (EC) No 1060/2009
  116. 97Amendment of Regulation (EC) No 1060/2009
  117. 98Amendment of Regulation (EC) No 1060/2009
  118. 99Amendment of Regulation (EC) No 1060/2009
  119. 100Amendment of Regulation (EC) No 1060/2009
  120. 101Revocation of Commission Delegated Regulation (EU) No. 272/2012
  121. 102Revocation of Commission Delegated Regulation (EU) No. 946/2012
  122. Signature
  123. Explanatory note