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The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 in England

S.I. 2019/335 · Made 20 February 2019 · Extends to United Kingdom

Not fully up to date. 1 change made by later legislation has not yet been written into this text, which is revised to 27 February 2025.

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ProvisionChangeMade by
RegulationsrevokedFinancial Services and Markets Act 2023 Sch. 1 Pt. 2

Exiting The European Union

Financial Services

Made 20th February 2019

Coming into force in accordance with regulation 1

M1The Treasury, in exercise of the powers conferred by section 8(1) of, and paragraph 1 of Schedule 4 and paragraph 21(b) of Schedule 7 to, the European Union (Withdrawal) Act 2018 make the following Regulations.

In accordance with paragraph 1(1) of Schedule 7 to that Act, a draft of this instrument has been laid before Parliament and approved by a resolution of each House of Parliament.C1C2

Annotations to the whole text

Marginal citations

M1

2018 c.16.

Modifications

C1

Regulations modified (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)

C2

Regulations: power to modify conferred (11.7.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 3, 86(3), Sch. 1 Pt. 2; S.I. 2023/779, reg. 2(d)

Contents

  1. Part 1: PRELIMINARY
  2. 1Citation, commencement and interpretation
  3. Part 2: AMENDMENT OF SUBORDINATE LEGISLATION
  4. 2Amendments to the Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013
  5. 3Interpretation
  6. 4Designation of competent authorities
  7. 5Applications, notifications and reports to the FCA
  8. 6Penalties and statements
  9. 7Investigatory powers of ESMA with regard to trade repositories
  10. 8Transitional provision
  11. Part 3: AMENDMENT AND REVOCATION OF RETAINED DIRECT EU LEGISLATION
  12. Chapter 1: AMENDMENT OF THE EMIR REGULATION
  13. 9Amendments to the EMIR regulation
  14. 10Subject matter and scope
  15. 11Definitions
  16. 12Equivalence decisions for the purposes of the definition of OTC derivatives
  17. 13Intragroup transactions
  18. 14Clearing obligation
  19. 15Clearing obligation procedure
  20. 16Public register
  21. 17Access to a CCP
  22. 18Access to a trading venue
  23. 19Reporting obligation
  24. 20Non-financial counterparties
  25. 21Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP
  26. 22Penalties
  27. 23Mechanism to avoid duplicative or conflicting rules
  28. 24Conditions for making technical standards
  29. 25Authorisation of a CCP
  30. 26Extension of activities and services
  31. 27Capital requirements
  32. 28Procedure for granting and refusing authorisation
  33. 29College
  34. 30Opinion of the college
  35. 31Withdrawal of authorisation
  36. 32Review and evaluation
  37. 33Competent authority
  38. 34Cooperation
  39. 35Organisational requirements: general provisions
  40. 36Record keeping
  41. 37Information
  42. 38Assessment
  43. 39Business continuity
  44. 40Outsourcing
  45. 41Transparency
  46. 42Segregation and portability
  47. 43Margin requirements
  48. 44Default fund
  49. 45Liquidity risk controls
  50. 46Default waterfall
  51. 47Collateral requirements
  52. 48Investment policy
  53. 49Default procedures
  54. 50Review of models, stress testing and back testing
  55. 51Calculation of Kccp
  56. 52Reporting of information
  57. 53Risk management
  58. 54Provision of margins among CCPs
  59. 55Approval of interoperability arrangements
  60. 56Trade Repositories
  61. 57Professional secrecy
  62. 58Exchange of information
  63. 59Transitional and final provisions
  64. 60List of infringements referred to in paragraph 1 of Article 65
  65. 61List of the coefficients linked to aggravating and mitigating factors for the application of paragraph 3 of Article 65
  66. Chapter 2: REVOCATION OF COMMISSION DELEGATED REGULATIONS MADE UNDER THE EMIR REGULATION
  67. 62Commission Delegated Regulation (EU) No. 1003/2013
  68. 63Commission Delegated Regulation (EU) No. 667/2014
  69. Part 4: SPECIFIC PROVISION FOR TRADE REPOSITORIES
  70. Chapter 1: PRELIMINARY
  71. 64Interpretation of Part 4
  72. Chapter 1A: SUPERVISION OF TRADE REPOSITORIES
  73. 64ASupervision of trade repositories
  74. Chapter 2: ENFORCEMENT PROVISIONS RELATING TO TRADE REPOSITORIES
  75. 65Warning notice
  76. 66Decision notice
  77. 67Public censure
  78. 68Financial penalties
  79. 69Statement of policy
  80. 70Statement of policy: procedure
  81. 71Powers to issue guidance
  82. 72Injunctions
  83. Chapter 3: APPLICATION OF THE FSMA FOR THE PURPOSES OF THIS PART, THE EMIR REGULATION AND THE TRATP REGULATIONS
  84. 73Application of Part 9 of the FSMA (hearings and appeals)
  85. 74Application of Part 9A of the FSMA (rules and guidance)
  86. 75Application of Part 11 of the FSMA (information gathering and investigations)
  87. 76Application of Part 26 of the FSMA (notices)
  88. 77Application of Part 27 of the FSMA (offences)
  89. 78Application of Schedule 1ZA to the FSMA (the Financial Conduct Authority)
  90. Part 5: TRANSITIONAL PROVISIONS: INTRAGROUP TRANSACTIONS
  91. 79Interpretation
  92. 80Continuation of exemptions from certain clearing obligations and risk-management obligations
  93. 81Relevant day for the purposes of regulation 80
  94. 82New exemptions from certain clearing obligations and risk-management obligations
  95. 83Relevant day for the purposes of regulation 82
  96. 84Regulations
  97. Signature
  98. Explanatory note