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The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges and Clearing Houses) Regulations 2001
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Changes and effects yet to be applied to Schedule Part 5:
- Title words substituted by S.I. 2017/1064 reg. 4(2)
- Sch. para. 9J and cross-heading inserted by S.I. 2017/1064 reg. 4(6)(a)
- Sch. para. 31A and cross-heading inserted by S.I. 2017/1064 reg. 4(6)(d)
- Sch. Pt. 7 inserted by S.I. 2017/1064 reg. 4(6)(e)
- Sch. para. 2B(7) inserted by S.I. 2019/662 reg. 20(2)(b)
- Sch. para. 7B(4) omitted by S.I. 2019/662 reg. 20(7)(b)
- Sch. para. 7C(3) omitted by S.I. 2019/662 reg. 20(9)
- Sch. para. 21A(2) omitted by S.I. 2019/662 reg. 20(19)
- Sch. para. 31(2) omitted by S.I. 2019/662 reg. 20(20)
- Sch. para. 38(2) omitted by S.I. 2019/662 reg. 20(23)
- Sch. para. 4C omitted by S.I. 2021/774 reg. 2(2)
- Sch. para. 9F(6)(c) omitted by S.I. 2021/774 reg. 2(4)(a)
- Sch. para. 9F(6)(d) omitted by S.I. 2021/774 reg. 2(4)(a)
- Sch. para. 9I(a) omitted by S.I. 2024/107 reg. 32
- Sch. para. 9I(c) omitted by S.I. 2024/107 reg. 32
- Sch. para. 7BA revoked by 2023 c. 29 Sch. 2 para. 50(a)
- Sch. para. 3C(a)(i) substituted by S.I. 2019/662 reg. 20(4)(a)(i)
- Sch. para. 3C(a)(ii) substituted by S.I. 2019/662 reg. 20(4)(a)(ii)
- Sch. para. 3C(a)(iii) substituted by S.I. 2019/662 reg. 20(4)(a)(iii)
- Sch. para. 3G(1)(b) substituted by S.I. 2019/662 reg. 20(5)(a)
- Sch. para. 3G(3) substituted by S.I. 2019/662 reg. 20(5)(b)
- Sch. para. 7BB(4)(b) substituted by S.I. 2019/662 reg. 20(8)(b)(ii)
- Sch. para. 7BB(4)(c) substituted by S.I. 2019/662 reg. 20(8)(b)(iii)
- Sch. para. 9ZC(a) substituted by S.I. 2019/662 reg. 20(12)(a)
- Sch. para. 9ZC(b) substituted by S.I. 2019/662 reg. 20(12)(b)
- Sch. para. 9A(2) substituted by S.I. 2019/662 reg. 20(13)
- Sch. para. 9C(a) substituted by S.I. 2019/662 reg. 20(14)(a)
- Sch. para. 9C(b) substituted by S.I. 2019/662 reg. 20(14)(b)
- Sch. para. 40(1)(a)(b) substituted by S.I. 2019/662 reg. 20(25)
- Sch. para. 9(6)(d)(e) substituted for Sch. para. 9(6)(d) by S.I. 2019/662 reg. 20(10)(b)
- Sch. para. 9(6)(c) word omitted by S.I. 2019/662 reg. 20(10)(a)
- Sch. para. 2B(1)(a) words inserted by S.I. 2019/662 reg. 3
- Sch. para. 3C(c) words inserted by S.I. 2019/662 reg. 20(4)(b)(i)
- Sch. para. 3C(c) words inserted by S.I. 2019/662 reg. 20(4)(b)(ii)
- Sch. para. 9E(1) words inserted by S.I. 2019/662 reg. 20(15)(b)
- Sch. para. 9F(9) words inserted by S.I. 2019/662 reg. 20(16)(c)
- Sch. para. 2B(2)(b)(ii) words omitted by S.I. 2019/662 reg. 20(2)(a)
- Sch. para. 3C(a)(iv) words omitted by S.I. 2019/662 reg. 20(4)(a)(iv)
- Sch. para. 7BB(5) words omitted by S.I. 2019/662 reg. 20(8)(c)
- Sch. para. 9ZB(6) words omitted by S.I. 2019/662 reg. 20(11)(b)
- Sch. para. 9E(1) words omitted by S.I. 2019/662 reg. 20(15)(a)
- Sch. para. 9F(3) words omitted by S.I. 2019/662 reg. 20(16)(a)
- Sch. para. 3B(4) words substituted by S.I. 2019/662 reg. 20(3)
- Sch. para. 3H words substituted by S.I. 2019/662 reg. 20(6)
- Sch. para. 7B(2) words substituted by S.I. 2019/662 reg. 20(7)(a)
- Sch. para. 7BB(2)(a) words substituted by S.I. 2019/662 reg. 20(8)(a)
- Sch. para. 7BB(4)(a) words substituted by S.I. 2019/662 reg. 20(8)(b)(i)
- Sch. para. 9ZB(6) words substituted by S.I. 2019/662 reg. 20(11)(a)
- Sch. para. 9F(6) words substituted by S.I. 2019/662 reg. 20(16)(b)
- Sch. para. 9F(11) words substituted by S.I. 2019/662 reg. 20(16)(d)(i)
- Sch. para. 9F(11) words substituted by S.I. 2019/662 reg. 20(16)(d)(ii)
- Sch. para. 9I words substituted by S.I. 2019/662 reg. 20(17)
- Sch. para. 9J(1) words substituted by S.I. 2019/662 reg. 20(18)
- Sch. para. 31A(1) words substituted by S.I. 2019/662 reg. 20(21)
- Sch. para. 37 words substituted by S.I. 2019/662 reg. 20(22)
- Sch. para. 39(1) words substituted by S.I. 2019/662 reg. 20(24)
- Sch. para. 9A(2)(a)(i) words substituted by S.I. 2021/774 reg. 2(3)
- Sch. para. 9F(9) words substituted by S.I. 2021/774 reg. 2(4)(b)
- Sch. para. 9(6)(e) words substituted in earlier amending provision S.I. 2019/662, reg. 20(10)(b) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(ii)
- Sch. para. 9ZB(6) words substituted in earlier amending provision S.I. 2019/662, reg. 20(11) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(iii)
- Sch. para. 9A(2) words substituted in earlier amending provision S.I. 2019/662, reg. 20(13) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(iv)
- Sch. para. 9E(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(15)(b) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(v)
- Sch. para. 9F(9) words substituted in earlier amending provision S.I. 2019/662, reg. 20(16)(c) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(vi)
- Sch. para. 9J(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(18) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(vii)
- Sch. para. 31A(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(21) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(viii)
- Sch. para. 37 words substituted in earlier amending provision S.I. 2019/662, reg. 20(22) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(ix)
- Sch. para. 39(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(24) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(x)
- Sch. para. 40(1)(a)(b) words substituted in earlier amending provision S.I. 2019/662, reg. 20(25) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(xi)
- Sch. para. 3C(c) words substituted in earlier amending provision S.I. 2019/662, reg. 20(4)(b)(i)(ii) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(i)
- Sch. 1 para. 3G(1A) inserted by S.I. 2020/117 reg. 4(3)
- Sch. 1 para. 3G(1) words substituted by S.I. 2020/117 reg. 4(2)
- reg. 3(1B) inserted by S.I. 2019/662 reg. 19(3)
- reg. 3(1B) words substituted in earlier amending provision S.I. 2019/662, reg. 19(3) by S.I. 2020/1301 reg. 3 Sch. para. 37(f)
- reg. 5B inserted by S.I. 2017/1064 reg. 4(4)
- reg. 6(4) inserted by S.I. 2017/1064 reg. 4(5)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- Title words substituted by S.I. 2017/1064 reg. 4(2)
- Sch. para. 9J and cross-heading inserted by S.I. 2017/1064 reg. 4(6)(a)
- Sch. para. 31A and cross-heading inserted by S.I. 2017/1064 reg. 4(6)(d)
- Sch. Pt. 7 inserted by S.I. 2017/1064 reg. 4(6)(e)
- Sch. para. 2B(7) inserted by S.I. 2019/662 reg. 20(2)(b)
- Sch. para. 7B(4) omitted by S.I. 2019/662 reg. 20(7)(b)
- Sch. para. 7C(3) omitted by S.I. 2019/662 reg. 20(9)
- Sch. para. 21A(2) omitted by S.I. 2019/662 reg. 20(19)
- Sch. para. 31(2) omitted by S.I. 2019/662 reg. 20(20)
- Sch. para. 38(2) omitted by S.I. 2019/662 reg. 20(23)
- Sch. para. 4C omitted by S.I. 2021/774 reg. 2(2)
- Sch. para. 9F(6)(c) omitted by S.I. 2021/774 reg. 2(4)(a)
- Sch. para. 9F(6)(d) omitted by S.I. 2021/774 reg. 2(4)(a)
- Sch. para. 9I(a) omitted by S.I. 2024/107 reg. 32
- Sch. para. 9I(c) omitted by S.I. 2024/107 reg. 32
- Sch. para. 7BA revoked by 2023 c. 29 Sch. 2 para. 50(a)
- Sch. para. 3C(a)(i) substituted by S.I. 2019/662 reg. 20(4)(a)(i)
- Sch. para. 3C(a)(ii) substituted by S.I. 2019/662 reg. 20(4)(a)(ii)
- Sch. para. 3C(a)(iii) substituted by S.I. 2019/662 reg. 20(4)(a)(iii)
- Sch. para. 3G(1)(b) substituted by S.I. 2019/662 reg. 20(5)(a)
- Sch. para. 3G(3) substituted by S.I. 2019/662 reg. 20(5)(b)
- Sch. para. 7BB(4)(b) substituted by S.I. 2019/662 reg. 20(8)(b)(ii)
- Sch. para. 7BB(4)(c) substituted by S.I. 2019/662 reg. 20(8)(b)(iii)
- Sch. para. 9ZC(a) substituted by S.I. 2019/662 reg. 20(12)(a)
- Sch. para. 9ZC(b) substituted by S.I. 2019/662 reg. 20(12)(b)
- Sch. para. 9A(2) substituted by S.I. 2019/662 reg. 20(13)
- Sch. para. 9C(a) substituted by S.I. 2019/662 reg. 20(14)(a)
- Sch. para. 9C(b) substituted by S.I. 2019/662 reg. 20(14)(b)
- Sch. para. 40(1)(a)(b) substituted by S.I. 2019/662 reg. 20(25)
- Sch. para. 9(6)(d)(e) substituted for Sch. para. 9(6)(d) by S.I. 2019/662 reg. 20(10)(b)
- Sch. para. 9(6)(c) word omitted by S.I. 2019/662 reg. 20(10)(a)
- Sch. para. 2B(1)(a) words inserted by S.I. 2019/662 reg. 3
- Sch. para. 3C(c) words inserted by S.I. 2019/662 reg. 20(4)(b)(i)
- Sch. para. 3C(c) words inserted by S.I. 2019/662 reg. 20(4)(b)(ii)
- Sch. para. 9E(1) words inserted by S.I. 2019/662 reg. 20(15)(b)
- Sch. para. 9F(9) words inserted by S.I. 2019/662 reg. 20(16)(c)
- Sch. para. 2B(2)(b)(ii) words omitted by S.I. 2019/662 reg. 20(2)(a)
- Sch. para. 3C(a)(iv) words omitted by S.I. 2019/662 reg. 20(4)(a)(iv)
- Sch. para. 7BB(5) words omitted by S.I. 2019/662 reg. 20(8)(c)
- Sch. para. 9ZB(6) words omitted by S.I. 2019/662 reg. 20(11)(b)
- Sch. para. 9E(1) words omitted by S.I. 2019/662 reg. 20(15)(a)
- Sch. para. 9F(3) words omitted by S.I. 2019/662 reg. 20(16)(a)
- Sch. para. 3B(4) words substituted by S.I. 2019/662 reg. 20(3)
- Sch. para. 3H words substituted by S.I. 2019/662 reg. 20(6)
- Sch. para. 7B(2) words substituted by S.I. 2019/662 reg. 20(7)(a)
- Sch. para. 7BB(2)(a) words substituted by S.I. 2019/662 reg. 20(8)(a)
- Sch. para. 7BB(4)(a) words substituted by S.I. 2019/662 reg. 20(8)(b)(i)
- Sch. para. 9ZB(6) words substituted by S.I. 2019/662 reg. 20(11)(a)
- Sch. para. 9F(6) words substituted by S.I. 2019/662 reg. 20(16)(b)
- Sch. para. 9F(11) words substituted by S.I. 2019/662 reg. 20(16)(d)(i)
- Sch. para. 9F(11) words substituted by S.I. 2019/662 reg. 20(16)(d)(ii)
- Sch. para. 9I words substituted by S.I. 2019/662 reg. 20(17)
- Sch. para. 9J(1) words substituted by S.I. 2019/662 reg. 20(18)
- Sch. para. 31A(1) words substituted by S.I. 2019/662 reg. 20(21)
- Sch. para. 37 words substituted by S.I. 2019/662 reg. 20(22)
- Sch. para. 39(1) words substituted by S.I. 2019/662 reg. 20(24)
- Sch. para. 9A(2)(a)(i) words substituted by S.I. 2021/774 reg. 2(3)
- Sch. para. 9F(9) words substituted by S.I. 2021/774 reg. 2(4)(b)
- Sch. para. 9(6)(e) words substituted in earlier amending provision S.I. 2019/662, reg. 20(10)(b) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(ii)
- Sch. para. 9ZB(6) words substituted in earlier amending provision S.I. 2019/662, reg. 20(11) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(iii)
- Sch. para. 9A(2) words substituted in earlier amending provision S.I. 2019/662, reg. 20(13) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(iv)
- Sch. para. 9E(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(15)(b) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(v)
- Sch. para. 9F(9) words substituted in earlier amending provision S.I. 2019/662, reg. 20(16)(c) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(vi)
- Sch. para. 9J(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(18) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(vii)
- Sch. para. 31A(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(21) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(viii)
- Sch. para. 37 words substituted in earlier amending provision S.I. 2019/662, reg. 20(22) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(ix)
- Sch. para. 39(1) words substituted in earlier amending provision S.I. 2019/662, reg. 20(24) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(x)
- Sch. para. 40(1)(a)(b) words substituted in earlier amending provision S.I. 2019/662, reg. 20(25) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(xi)
- Sch. para. 3C(c) words substituted in earlier amending provision S.I. 2019/662, reg. 20(4)(b)(i)(ii) by S.I. 2020/1301 reg. 3 Sch. para. 37(g)(i)
- Sch. 1 para. 3G(1A) inserted by S.I. 2020/117 reg. 4(3)
- Sch. 1 para. 3G(1) words substituted by S.I. 2020/117 reg. 4(2)
- reg. 3(1B) inserted by S.I. 2019/662 reg. 19(3)
- reg. 3(1B) words substituted in earlier amending provision S.I. 2019/662, reg. 19(3) by S.I. 2020/1301 reg. 3 Sch. para. 37(f)
- reg. 5B inserted by S.I. 2017/1064 reg. 4(4)
- reg. 6(4) inserted by S.I. 2017/1064 reg. 4(5)
[F1PART 5U.K.Recognition requirements for central counterparties
Textual Amendments
F1Sch. Pts. 5, 6 inserted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 5(6) (with regs. 52-58)
Requirements of the EMIR regulationU.K.
29. A central counterparty providing clearing services must meet the requirements set out in the EMIR regulation (within the meaning of section 313 of the Act).U.K.
[F2Loss allocationU.K.
Textual Amendments
F2Sch. paras. 29A, 29B and cross-headings inserted (1.2.2014 for specified purposes) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) (No. 2) Regulations 2013 (S.I. 2013/1908), regs. 1(3)(a)(b), 3(4)
29A. The central counterparty must maintain effective arrangements (which may include rules) for ensuring that losses that—U.K.
(a)arise otherwise than as a result of clearing member default; and
(b)threaten the central counterparty’s solvency;
are allocated with a view to ensuring that the central counterparty can continue to provide the services and carry on the activities specified in its recognition order.
Recovery plansU.K.
29B. The central counterparty must maintain a plan that sets out the steps that it will take in order to maintain the continuity of the services that it provides and the activities that it carries on that are specified in its recognition order in the event that such continuity is threatened.]U.K.
Market abuse or financial crimeU.K.
30. The central counterparty must ensure that appropriate measures are adopted to reduce the extent to which its facilities can be used for a purpose connected with market abuse or financial crime, and to facilitate their detection and monitor their incidence.U.K.
Access to central counterparty, clearing and settlement facilitiesU.K.
31.—(1) The central counterparty must make transparent and non-discriminatory rules, based on objective criteria, governing access to central counterparty, clearing or settlement facilities provided by it.U.K.
(2) The rules under sub-paragraph (1) must enable an investment firm or a credit institution authorised by the competent authority of another EEA State (including a branch established in the United Kingdom of such a firm or institution) to have access to those facilities on the same terms as a UK firm for the purposes of finalising or arranging the finalisation of transactions in financial instruments.
(3) [F3The central counterparty may refuse access to those facilities on legitimate commercial grounds.]]
Textual Amendments
F3Sch. para. 31(3) omitted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes) by virtue of The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 3 para. 1(19) (with reg. 7)
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