F2Part 18ASUSPENSION AND REMOVAL OF FINANCIAL INSTRUMENTS FROM TRADING
313CNotification in relation to suspension or removal of a financial instrument from trading
1
If the F4FCA exercises the power under section 313A(1) in relation to a financial instrument traded on a regulated market, it must as soon as reasonably practicable—
a
publish its decision in such manner as it considers appropriate F1unless the decision has already been published under section 313B(2)(b), and
b
inform F3ESMA and the competent authorities of all other EEA States of its decision.
2
3
Subsections (4) and (5) apply if the F4FCA receives notice from the competent authority of another EEA State that that authority, pursuant to Article 41.2 of the markets in financial instruments directive—
a
has required the suspension of a financial instrument from trading, or
b
has required the removal of a financial instrument from trading.
4
In the case of a notice under subsection (3)(a), the F4FCA—
a
must require each recognised investment exchange to suspend the instrument from trading on any regulated market operated by the exchange, and
b
must require each institution operating a multilateral trading facility to suspend the instrument from trading on that facility,
unless such a step would be likely to cause significant damage to the interests of investors or the orderly functioning of the financial markets.
5
In the case of a notice under subsection (3)(b), the F4FCA—
a
must require each recognised investment exchange to remove the instrument from trading on any regulated market operated by the exchange, and
b
must require each institution operating a multilateral trading facility to remove the instrument from trading on that facility,
unless such a step would be likely to cause significant damage to the interests of investors or the orderly functioning of the financial markets.
6
”Competent authority” has the meaning given in Article 4.1.22 of the markets in financial instruments directive.
Pt. 18A inserted (1.4.2007 for certain purposes and 1.11.2007 otherwise) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2007 (S.I. 2007/126), regs. 1(2), 3(3), Sch. 3 para. 1