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The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020

S.I. 2020/1385 · Made 26 November 2020 · 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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RegulationsrevokedFinancial Services and Markets Act 2023 Sch. 1 Pt. 2

Exiting The European Union

Financial Services And Markets

Made 26th November 2020

Coming into force in accordance with regulation 1

The Treasury make these Regulations in exercise of the powers conferred by section 2(2) of the European Communities Act 1972f1 and section 8(1) of, and paragraphs 21 and 38 of Schedule 7 to, the European Union (Withdrawal) Act 2018f2.

The Treasury are a government department designatedf3 for the purposes of section 2(2) of the European Communities Act 1972 in relation to financial services.C1

A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament in accordance with paragraph 2(2) of Schedule 2 to the European Communities Act 1972 and paragraph 1(1) of Schedule 7 to the European Union (Withdrawal) Act 2018.

Annotations to the whole text

Modifications

C1

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)

Footnotes

f1

1972 c. 68. The European Communities Act 1972 was repealed by section 1 of the European Union (Withdrawal) Act 2018 (c. 16) with effect from exit day, but saved with modifications until IP completion day by section 1A of that Act (as inserted by section 1 of the European Union (Withdrawal Agreement) Act 2020 (c. 1)). Section 2(2) of the European Communities Act 1972 was amended by section 27(1) of the Legislative and Regulatory Reform Act 2006 (c.51) and by section 3(3) of, and Part 1 of the Schedule to, the European Union (Amendment) Act 2008 (c. 7). Paragraph 1A of Schedule 2 was inserted by section 28 of the Legislative and Regulatory Reform Act 2006 and amended by Part 1 of the Schedule to the European Union (Amendment) Act 2008 and S.I. 2007/1388.

f2

2018 c. 16, as amended by the European Union (Withdrawal Agreement) Act 2020 (c. 1), which inserted section 8A and omitted section 8(7)(e).

f3

S.I. 2012/1759.

Contents

  1. Part 1: General provision
  2. 1Citation and commencement
  3. Part 2: Transitional and saving provisions concerning the SFT Regulation
  4. Chapter 1: Advance applications
  5. 2Advance application for registration as a trade repository
  6. 3Assessment of whether an advance application is complete
  7. 4Determination of an advance application
  8. 5Effect of determining an advance application
  9. Chapter 2: Temporary registration
  10. 6Temporary deemed registration under the SFT Regulation
  11. 7Application of regulation 6
  12. 8Conditions to be satisfied for regulation 6 to apply
  13. 9Period during which regulation 6 is to apply
  14. 10Cessation following a determination by the FCA
  15. Chapter 3: Temporary registration for run-off period
  16. 11Temporary deemed registration under the SFT Regulation for run-off period
  17. 12Application of regulation 11
  18. 13Condition to be satisfied for regulation 11 to apply
  19. 14Period during which regulation 11 is to apply
  20. 15Transitional arrangements during the run-off period
  21. 16Notification of a decision to impose requirements under regulation 15
  22. 17Right to refer to the Tribunal
  23. 18Application of Part 9 of the Financial Services and Markets Act 2000
  24. Chapter 4: Registration conversion
  25. 19Registration under the SFT Regulation
  26. 20Application to regulation 19
  27. 21Conditions to be satisfied for regulation 19 to apply
  28. 22Notification for registration
  29. 23Acknowledgement of receipt
  30. 24FCA response
  31. Chapter 5: General provisions
  32. 25Misleading the FCA: criminal offence
  33. 26Further information to be supplied by a person to whom regulation 9 or 13 applies
  34. 27Directions
  35. 28Enforcement
  36. 29Interpretation
  37. Part 3: Transitional and saving provisions concerning the Securitisation Regulation
  38. Chapter 1: Advance applications
  39. 30Advance application for registration as a securitisation repository
  40. 31Assessment of whether an advance application is complete
  41. 32Determination of an advance application
  42. 33Effect of determining an advance application
  43. Chapter 2: General provisions
  44. 34Misleading the FCA: criminal offence
  45. 35Directions
  46. 36Interpretation
  47. Part 4: Amendment of primary legislation
  48. 37Insolvency Act 1986
  49. 38Financial Services and Markets Act 2000
  50. 39Banking Act 2009
  51. Part 5: Amendment of secondary legislation
  52. 40The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
  53. 41The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001
  54. 42The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018
  55. 43The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018
  56. 44The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018
  57. 45The Credit Transfers and Direct Debits in Euro (Amendment) (EU Exit) Regulations 2018
  58. 46The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018
  59. 47The Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018
  60. 48The Capital Requirements (Amendment) (EU Exit) Regulations 2018
  61. 49The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018
  62. 50The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019
  63. 51The Market Abuse (Amendment) (EU Exit) Regulations 2019
  64. 52The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019
  65. 53The Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019
  66. 54The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019
  67. 55The Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019
  68. 56The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019
  69. 57The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019
  70. 58The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019
  71. 59The Securitisation (Amendment) (EU Exit) Regulations 2019
  72. 60The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019
  73. 61The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019
  74. 62The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019
  75. 63The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019
  76. 64The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019
  77. 65The Capital Requirements (Amendment) (EU Exit) Regulations 2019
  78. 66The Prospectus (Amendment etc.) (EU Exit) Regulations 2019
  79. 67The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) (No. 2) Regulations 2019
  80. 68The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020
  81. 69The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2020
  82. 70The Equivalence Determinations for Financial Services (Amendment etc.) (EU Exit) Regulations 2020
  83. 71Amendments to cross references to retained EU Regulations
  84. Part 6: Amendment or revocation of retained direct EU legislation
  85. 72Regulation (EC) No 924/2009
  86. 73Regulation (EU) No 231/2013
  87. 74Regulation (EU) No 575/2013
  88. 75Regulation (EU) 2015/2365
  89. 76Regulation (EU) 2019/877
  90. 77Regulation (EU) 2019/2088
  91. 78Regulation (EU) 2020/852
  92. Signature
  93. Schedule: Cross references to EU regulations forming part of retained EU law
  94. 1Paragraph 1
  95. Explanatory note