Regulation 26 Application of section 415AA of FSMA 2000 (application of powers to formerly authorised persons)

(1)

Section 415AA of FSMA 2000^f1 (application of powers to formerly authorised persons) applies for the purposes of these Regulations and FSMA 2000 as applied by these Regulations as if—

(a)

each reference to an authorised person were a reference to a data reporting service provider;

(b)

each reference to a section of that Act were a reference to that section as applied by these Regulations;

(c)

for subsections (1)(b) and (c) there were substituted—

“(b)

section 312E (public censure);

(c)

section 312F (financial penalties)”;

(d)

in subsection (2) “, and in sections 207 to 209,” were omitted.

Annotations

Footnotes

f1: Section 415AA was inserted by section 60 of the Financial Services and Markets Act 2023.