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

Review

28.—(1) The Treasury must from time to time—

(a) carry out a review of the provisions of Parts 2 and 3 of these Regulations;

(b) set out the conclusions of the review in a report; and

(c) publish the report.

(2) The report must in particular—

(a) set out the objectives intended to be achieved by the regulatory provision made by those provisions;

(b) assess the extent to which those objectives are achieved; and

(c) assess whether those objectives remain appropriate and, if so, the extent to which they could be achieved with a system that imposes less regulation.

(3) In carrying out the review the Treasury must have regard to how the obligations imposed on Member States by Chapter 6 (supervision and competent authorities) and 8 (administrative sanctions and other administrative measures) of the SFT regulation are implemented in the other Member States or countries which are subject to the SFT regulation.

(4) The first report under this article must be published before the end of 2020.

(5) Reports under this article are afterwards to be published at intervals not exceeding five years.