The Recognised Auction Platforms and Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) Regulations 2021

Amendments to the Recognised Auction Platforms Regulations 2011

2.—(1) Regulation 20 of the Recognised Auction Platforms Regulations 2011(1) is amended as follows.

(2) In paragraph (4)—

(a) in sub-paragraph (a), omit “established in the United Kingdom”;

(b) after sub-paragraph (a), insert—

“(aa) investment firms which—

(i) satisfy the condition in sub-paragraph (a)(i); and

(ii) are authorised under Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments(2) as amended from time to time;”;

(c) in sub-paragraph (b), omit “established in the United Kingdom”;

(d) after sub-paragraph (b), insert—

“(ba) credit institutions which—

(i) satisfy the condition in sub-paragraph (b)(i); and

(ii) are authorised under Directive 2013/36/EU of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms(3) as amended from time to time;”;

(e) in the closing words of paragraph (4), omit the words from “on the same terms” to the end.

(1)

S.I. 2011/2699. Regulation 20 has been amended by S.I. 2013/3115, and 2021/494. There are other amendments to S.I. 2011/2699 which are not relevant to these Regulations.

(2)

OJ L173, 12.6.2014, p.349.

(3)

OJ L176, 27.6.2013, p.338.