The Securitisation Regulations 2023

Hearings and appeals

8.—(1) Part 9 of FSMA 2000 (hearings and appeals) applies in respect of references made to the Tribunal under these Regulations as it applies in respect of references made to the Tribunal under FSMA 2000 in respect of a decision of the FCA or the PRA, but with the modifications set out in sub-paragraphs (2) and (3).

(2) Section 133 of FSMA 2000(1) (proceedings before Tribunal: general provision) is to be read as if—

(a) in subsection (1), the words “(whether made under this or any other Act)” were omitted, and

(b) for subsection (7A) there were substituted—

“(7A) A reference is a “disciplinary reference” for the purposes of this section if it is in respect of a decision to—

(a) impose a temporary prohibition under regulation 37 of the Securitisation Regulations 2023;

(b) publish a statement under regulation 41 of those Regulations;

(c) impose a penalty under regulation 42 of those Regulations.”.

(3) Section 133A of FSMA 2000(2) (proceedings before Tribunal: decision and supervisory notices, etc) is to be read as if in subsection (1) the words “as a result of section 388(2)” were omitted.

(1)

Section 133 was substituted by S.I. 2010/22 and relevant amendments were made by section 23(2) of the Financial Services Act 2012, section 4(2) of the Financial Services (Banking Reform) Act 2013, paragraph 3 of Part 2 of Schedule 2 to the Financial Services Act 2021, paragraph 6 of Part 2 of Schedule 10 and paragraph 160 of Part 10 of Schedule 11 to the Financial Services and Markets Act 2023 and S.I. 2016/680, 2017/1064 and 2013/1388.

(2)

Substituted by S.I. 2010/22. Relevant amendments were made by section 23 of the Financial Services Act 2012.