{
  "url": "https://openlegislation.uk/draft-data-reporting-services-regulations-2023/regulation-12",
  "json_url": "https://openlegislation.uk/draft-data-reporting-services-regulations-2023/regulation-12.json",
  "legislation": "ukdsi/2023/9780348254273",
  "legislation_title": "The Data Reporting Services Regulations 2023",
  "legislation_url": "https://openlegislation.uk/draft-data-reporting-services-regulations-2023",
  "path": "regulation/12",
  "kind": "regulation",
  "number": "12",
  "heading": "Consulting the Bank of England",
  "text": "The FCA must consult the Bank of England before—\n(a) authorising a recognised clearing house or a recognised CSD to provide a data reporting service;\n(b) varying or cancelling a recognised clearing house’s or a recognised CSD’s authorisation to provide a data reporting service;\n(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;\n(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;\n(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;\n(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;\n(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;\n(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;\n(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;\n(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.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 312E was inserted by section 33 of the Financial Services Act 2012 (c. 21) and amended by section 11(5) of the Financial Services and Markets Act 2023 and S.I. 2017/1064 and 2019/622 (as amended by 2020/646)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 312F was inserted by section 33 of the Financial Services Act 2012 and amended by section 11(6) of the Financial Services and Markets Act 2023 and S.I. 2019/662."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Section 166A was inserted by paragraph 6 of Schedule 12 to the Financial Services Act 2012 and was amended by section 11(3) of the Financial Services and Markets Act 2023."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Section 167(1) was amended by paragraph 7 of Schedule 12 to the Financial Services Act 2012, paragraph 7 of Schedule 2 to the Financial Services Act 2021 and S.I. 2013/423."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Section 169(1) was amended by paragraph 9 of Schedule 12 to the Financial Services Act 2012."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2023/9780348254273/regulation/12",
    "retrieved_at": "2026-10-30T14:42:13.345846+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}