Prospective
3U.K.For Article 4 substitute—
“Article 4U.K.Waivers for equity instruments
1.The FCA may by rules provide for the obligation for market operators and investment firms operating a trading venue to make public the information referred to in Article 3(1) to be waived in such cases as the rules may specify.
2.The power to make rules under paragraph 1 is exercisable only if the FCA considers that the rules are necessary or expedient for the purpose of advancing one or more of its operational objectives referred to in section 1B(3) of FSMA.
3.Rules under paragraph 1 may impose whatever conditions on the application of the waiver the FCA considers appropriate.
4.The FCA must monitor the application of waivers conferred by rules under paragraph 1 (in particular the effect of such waivers on price formation and compliance with any conditions imposed under paragraph 3).
5.The FCA may by notice given to a market operator, or an investment firm operating a trading venue, withdraw a waiver granted by rules made under this Article if the FCA considers that the waiver is being used—
(a)in a way that deviates from its original purpose, or
(b)to avoid requirements imposed by the rules.”
Commencement Information
I1Sch. 2 para. 3 not in force at Royal Assent, see s. 86(3)