Regulation 2 Amendment to the Financial Markets and Insolvency (Settlement Finality) Regulations 1999

(1)

The Financial Markets and Insolvency (Settlement Finality) Regulations 1999^f1 are amended as follows.

(2)

In regulation 2 (interpretation), in paragraph (1) in the definition of “the Settlement Finality Directive”, for the words from “as amended by” to the end of the definition substitute “, as last amended by Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23rd July 2014 on improving securities settlement in the European Union and on central securities depositories^f2”.

(3)

In regulation 4 (grant and refusal of designation), after paragraph (5) insert—

“(6)
The designating authority must notify the European Securities and Markets Authority of a designation order made by it.”.

Annotations

Footnotes

f1: S.I. 1999/2979; the definition of “Settlement Finality Directive” in regulation 2(1) was amended by S.I. 2010/2993. There are other amendments but none is relevant.
f2: OJ No L257, 28.8.2014, p1.