The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016

Application of Part 26 of the Act

19.—(1) Part 26(1) of the Act (notices) applies in respect of notices given under this Part by a regulator as it applies in respect of notices given by the FCA under the Act, but with the following modifications.

(2) In section 388 (decision notices)—

(a) in sub-paragraph (i) of paragraph (e) of subsection (1), the reference to the Act is to be read as if it is a reference to this Part;

(b) subsection (2) is to be ignored.

(3) In section 390 (notices given in accordance with a court direction)—

(a) in paragraph (a) of subsection (2A), references to section 133(6)(b) and 133(6) apply as if they are references to those provisions as applied by regulation 22;

(b) subsection (6) and (10) are to be ignored.

(4) Section 391 (publication of warning notices) applies as if—

(a) a notice given under regulation 10 is a supervisory notice;

(b) in subsection (6) the reference to the FCA is to be read as if it is a reference to a regulator;

(c) in subsection (8C)(2) the reference to the Act is to be read as if it is a reference to this Part.

(5) Section 392 is to be ignored.

(6) Section 393 (third party rights) and 394 (access to FCA or PRA material) apply to a warning notice or decision notice given in accordance with regulation 12(1), 17 or 18.

(7) Section 395 (the FCA and PRA’s procedures) and 396 (statements under section 395: consultation) do not apply.

(1)

Part 26 was amended by paragraph 11 of Schedule 4 to the Regulation of Investigatory Powers Act 2000 (c.23), section 1268 of the Companies Act 2006 (c.46), section 13 and 24 of and paragraph 28 and 29 of Schedule 2 to the Financial Services Act 2010, section 17, 18, 19 and 24 of and paragraph 37 of Schedule 8, Schedule 9 and paragraph 8 of Schedule 13 to the Financial Services Act 2012, section 4 of and Schedule 3 to the Financial Services (Banking Reform) Act 2013 (c.33), S.I. 2005/381, S.I. 2005/1433, S.I. 2007/126, S.I. 2007/1973, S.I. 2009/119, S.I. 2009/534, S.I. 2010/22, S.I. 2010/747, S.I. 2012/916, S.I. 2012/1538, S.I. 2013/1388, S.I. 2013/3115, S.I. 2014/2879, S.I. 2015/1755 and S.I. 2016/225.

(2)

Subsection (8C) is inserted by paragraph 1(4) of Schedule 1 to these Regulations.