Regulation 29 Transaction reporting

(1)

In Article 24, for the words from the beginning to “Regulation (EU) No 1095/2010”, substitute “The FCA”.

(2)

In Article 25—

(a)

in paragraph 1—

(i)

for “Directive 2005/60/EC of the European Parliament and of the Council” substitute “the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017^f1”;

(ii)

omit the final sentence;

(b)

in paragraph 2, omit the final sentence;

(c)

in paragraph 3—

(i)

in the first subparagraph, for “ESMA shall develop draft regulatory” substitute “The FCA may make”;

(ii)

in the second subparagraph, omit “draft regulatory”;

(iii)

omit the third and fourth subparagraphs.

(3)

In Article 26—

(a)

in paragraph 1, omit the second and third subparagraphs;

(b)

in paragraph 2, for “trading venue” each time it occurs, substitute “UK or EU trading venue”;

(c)

in paragraph 3, for “Article 57 of Directive 2014/65/EU” substitute “Part 3 of the Markets in Financial Instruments Regulations 2017”;

(d)

in paragraph 6, omit the second subparagraph;

(e)

in paragraph 7—

(i)

in the third subparagraph, for “Article 66(4) of Directive 2014/65/EU” substitute “regulation 16(3)(d) of the Data Reporting Services Regulations”;

(ii)

in the fifth subparagraph, for “The home Member State” both times it occurs, substitute “The FCA”;

(f)

omit paragraph 8;

(g)

in paragraph 9—

(i)

in the first subparagraph—

(aa)

for “ESMA shall develop draft regulatory” substitute “The FCA may make”;

(bb)

omit point (b);

(ii)

omit the second and third subparagraphs;

(h)

in paragraph 10—

(i)

in the first sentence—

(aa)

for “ESMA shall submit a report to the Commission” substitute “the FCA must publish a report”;

(bb)

omit “received and exchanged between competent authorities”;

(ii)

omit the second and third sentences.

(4)

In Article 27—

(a)

in paragraph 1—

(i)

in the first subparagraph, for “competent authorities” substitute “the FCA”;

(ii)

in the second subparagraph—

(aa)

for “26(2)” substitute “26(2)(b) or (c)”;

(bb)

for “its competent authority” substitute “the FCA”;

(iii)

in the third subparagraph—

(aa)

in the first sentence, for “competent authority” substitute “FCA”;

(bb)

for the third sentence, substitute “This data is to be transmitted without delay to the FCA, which must publish it as soon as practicable on its website.”.

(iv)

omit the fourth sentence;

(b)

in paragraph 2—

(i)

in the opening words—

(aa)

for “competent authorities” the first time it occurs, substitute “the FCA”;

(bb)

for “ESMA and the competent authorities” substitute “the FCA”;

(ii)

in point (a), for “ESMA and the competent authorities” substitute “the FCA”;

(iii)

omit point (c);

(c)

in paragraph 3—

(i)

in the first sub-paragraph—

(aa)

in the opening words, for “ESMA shall develop draft regulatory” substitute “The FCA may make”;

(bb)

in point (a), for “competent authorities and transmitting it to ESMA”, substitute “the FCA”;

(cc)

in point (b), for “ESMA and the competent authorities” substitute “the FCA”;

(ii)

omit the second and third sub-paragraphs.

Annotations

Footnotes

f1: S.I. 2017/692.