PART 8Consequential amendments
Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001I133
1
The Financial Services and Markets Act 2000 (Regulated Activities) Order 200185 is amended as follows.
2
In article 3(1), in the appropriate place insert—
“trade repository” means a person registered with ESMA under Article 55 of Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories or a person recognised by ESMA under Article 77 of that Regulation;
3
In article 35(3) after sub-paragraph (b) insert—
ba
the body or association is also not eligible to become an EEA central counterparty (as defined in section 285(1)(c) of the Act) or a third country central counterparty (as defined in section 285(1)(d) of the Act);
4
After article 35 insert—
Trade repositories35A
A trade repository does not carry on an activity of the kind specified by article 25(2) by carrying on its functions of centrally collecting and maintaining records of derivatives under Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories.
5
In article 72, after paragraph (8) insert—
9
Paragraphs (1) to (5) do not apply where the overseas person is providing clearing services as a central counterparty (within the meaning of section 313(1) of the Act).