[PART 2U.K.Designation of competent authorities]
Designation of competent authoritiesU.K.
2.—(1) The FCA is the competent authority responsible for—
(a)the supervision of trading venues for the purposes of the CSD regulation;
(b)the functions referred to in Article 4(3) of the CSD regulation.
[(c)the supervision of investment firms authorised pursuant to [Part 4A of the Act] for the purposes of the CSD regulation;
(d)the supervision of participants in a securities settlement system for the purposes of the CSD regulation, other than recognised clearing houses or recognised CSDs.]
(2) The Bank is the competent authority responsible for—
[(za)the functions referred to in Article 9(1) of the CSD regulation;]
(a)authorisation and supervision of CSDs established in the United Kingdom ..., [and all other competent authority functions under that regulation in relation to CSDs] except as provided in paragraph (4);
[(aa)... competent authority functions under the CSD regulation in relation to ... third country CSDs;]
(b)oversight of securities settlement systems in the United Kingdom referred to in ... the CSD Regulation; ...
(c)authorisation of a CSD under Article 54 of the CSD regulation for the provision of banking-type ancillary services—
(i)by a CSD under paragraph (2)(a) of that Article, or
(ii)by a designated credit institution under paragraph (2)(b) of that Article; [and
(d)the supervision of CCPs for the purposes of the CSD regulation.]
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) The PRA is the competent authority responsible for—
(a)authorisation of a CSD referred to in Article 54(2)(a) of the CSD regulation as a credit institution; and
(b)supervision in accordance with Article 60 of the CSD regulation—
(i)of the provision of banking-type ancillary services authorised under Article 54 of the CSD regulation by a CSD referred to in Article 54(2)(a) of that Regulation and a credit institution referred to in Article 54(2)(b) of that Regulation, and
(ii)of compliance with the prudential requirements referred to in Article 59 of the CSD regulation by a CSD referred to in Article 54(2)(a) of that Regulation and a credit institution referred to in Article 54(2)(b) of that Regulation.
Textual Amendments
Marginal Citations