Financial Services and Markets Act 2000

[F1 313D Interpretation of Part 18A U.K.

F2 [F2 (1)] In this Part—

• [F3 “competent authority” has the meaning given in Article 4.1.26 (definitions) of the markets in financial instruments directive;]

• [F3 “derivative” means a derivative referred to in points (4) to (10) of Section C of Annex 1 to the markets in financial instruments directive;]

• “financial instrument” has the meaning given in Article [F4 4.1.15] of the markets in financial instruments directive;

• “institution” means—

  (a)

  a recognised investment exchange, other than an overseas investment exchange (within the meaning of Part 18);

  (b)

  an investment firm;

  (c)

  a credit institution authorised under the [F5 capital requirements directive], when carrying on investment services and activities; or

  (d)

  an institution which would satisfy the requirements for authorisation as a credit institution under that directive if it had its registered office (or if it does not have a registered office, its head office) in an EEA State,

  but does not include an EEA firm qualifying for authorisation under Schedule 3;

• “issuer”, in relation to a financial instrument, means the person who issued the instrument;

• [F3 “market abuse” means a contravention of Article 14 (prohibition of insider dealing and of unlawful disclosure of inside information) or 15 (prohibition of market manipulation) of the market abuse regulation;]

• F6 ...

• [F3 “non-disclosure of inside information” means a failure to disclose inside information, as defined by Article 7 (inside information) of the market abuse regulation, in contravention of Article 17 (public disclosure of inside information) of that Regulation;]

• [F7 “regulated information” has the meaning given in Article 2(1)(k) of the transparency obligations directive (as defined in section 103 of this Act);]

• [F8 “regulatory information service” means—

  (a)

  a service approved by the [F9 FCA] to disseminate regulated information in accordance with rules made under section 89A of this Act, or

  (b)

  a service established in an EEA state other than the United Kingdom which is used for the dissemination of regulated information for the purposes of Article 21 of the transparency obligations directive;]

• F10 ...

• [F3 “systematic internaliser” has the meaning given in Article 4.1.20 of the markets in financial instruments directive;]

• [F3 “trading venue” has the meaning given in Article 4.1.24 of the markets in financial instruments directive.]

[F11 (2) In this Part a trading venue or systematic internaliser falls under the FCA’s jurisdiction if—

(a) the United Kingdom is the home Member State (as defined by Article 4.1.55 of the markets in financial instruments directive) of—

(i) in the case of a trading venue which is a regulated market (as defined by Article 4.1.21 of the directive), the regulated market;

(ii) in the case of a trading venue which is a multilateral trading facility (as defined by Article 4.1.22 of the directive), the person operating the facility;

(iii) in the case of a trading venue which is an organised trading facility (as defined by Article 4.1.23 of the directive), the person operating the facility; or

(iv) in the case of a systematic internaliser, the systematic internaliser; or

(b) in the case of a systematic internaliser does not fall within the FCA’s jurisdiction by virtue of paragraph (a)—

(i) it has established a branch (as defined by Article 4.1.30 of the directive) in the United Kingdom; and

(ii) the FCA considers that it is necessary to impose a requirement on the systematic internaliser under section 313CA(2), 313CB(2), or 313CC(2) for the purposes of Article 32.2 or 52.2 F12 ... in financial instruments directive.]]

Textual Amendments

F1 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

F2 S. 313D(1) s. 313D re-numbered as s. 313D(1) (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 42(2) (with reg. 7)

F3 Words in s. 313D(1) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 42(3)(d) (with reg. 7)

F4 Word in s. 313D(1) substituted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 42(3)(a) (with reg. 7)

F5 Words in s. 313D substituted (1.1.2014) by The Capital Requirements Regulations 2013 (S.I. 2013/3115), reg. 1(2), Sch. 2 para. 19

F6 Words in s. 313D(1) omitted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) 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. 2 para. 42(3)(b) (with reg. 7)

F7 S. 313D: definition of "regulated information" inserted (9.4.2010) by The Financial Services and Markets Act 2000 (Amendments to Part 18A etc.) Regulations 2010 (S.I. 2010/1193), reg. 6

F8 S. 313D: definition of "regulatory information service" inserted (9.4.2010) by The Financial Services and Markets Act 2000 (Amendments to Part 18A etc.) Regulations 2010 (S.I. 2010/1193), reg. 6

F9 Word in Pt. 18A substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 36(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F10 Words in s. 313D(1) omitted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) 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. 2 para. 42(3)(c) (with reg. 7)

F11 S. 313D(2) inserted (29.6.2017 for specified purposes, 3.7.2017 for specified purposes, 31.7.2017 for specified purposes, 3.1.2018 in so far as not already in force) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701), reg. 1(2)(3)(4)(6), Sch. 2 para. 42(4) (with reg. 7) (as amended (2.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(a), 35)

F12 S. 313D(2) amendment to earlier affecting provision S.I. 2017/701, Sch. 2 para. 42(4) (2.1.2018) by The Financial Services and Markets Act 2000 (Markets in Financial Instruments) (No.2) Regulations 2017 (S.I. 2017/1255), regs. 2(a), 35