2017 No. 699
Financial Services And Markets
The Data Reporting Services Regulations 2017 (revoked)
Regulations revoked (5.4.2024) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4) and with savings and transitional provisions in S.I. 2024/107, regs. 38-43); S.I. 2023/1382, reg. 4(c)
Made 21st June 2017
Laid before Parliament 22nd June 2017
Coming into force in accordance with regulation 1(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 1 Introductory Provisions

1 Citation and commencement
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2 Interpretation
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2A References to EU Regulations etc
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 CTP definition and conditions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Retained EU law
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 2 Authorisation of Data Reporting Services

5 Prohibition on provision of data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Register of data reporting service providers
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Application for authorisation to provide a data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 Application for verification of compliance with these Regulations
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Conditions for authorisation to provide a data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Determination of an application for authorisation to provide a data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 Cancellation of an authorisation to provide a data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Variation of an authorisation to provide data reporting services
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12A Deemed authorisation to provide a data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12B Regulator response
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12C Period during which regulation 12A is to apply
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 3 Operating Requirements

13 Requirements for the management body of a data reporting service provider
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14 Conditions for an APA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15 Conditions for a CTP
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

16 Conditions for an ARM
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 4 Administration and enforcement

CHAPTER 1 The FCA

Functions of the FCA

17 Functions of the FCA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

18 Monitoring and enforcement
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

19 Co-operation and consultation
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

20 Guidance
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

21 Reporting requirements
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Restrictions on authorisation

22 Restrictions on authorisation to carry on data reporting services
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Administrative sanctions

23 Public censure
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

24 Financial penalties
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

25 Warning notice
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

26 Decision notice
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

27 Statements of policy
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28 Statements of policy: procedure
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Offences

29 Misleading the FCA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

30 Breach of the prohibition on provision of data reporting service
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

31 Restriction on penalties
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHAPTER 2 Application of the Act for the purposes of the Regulations

32 Application of Part 9 of the Act (hearings and appeals)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

33 Application of Part 11 of the Act (information gathering and investigations)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

34 Information given by an auditor
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

35 Restrictions on disclosure of information
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

36 Application of Part 25 of the Act (injunctions and restitution)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

37 Application of Part 26 of the Act (notices)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

38 Application of Part 27 of the Act (offences)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

39 Application of section 413 of the Act (protected items)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

40 FCA: penalties, fees and exemption from liability in damages
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

CHAPTER 3 Application of secondary legislation for the purposes of the Regulations

41 Service of notices
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

42 Disclosure of confidential information
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

43 Communications by auditors
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART 5 Miscellaneous

44 Record keeping
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

45 Reporting of infringements
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

46 Application to Gibraltar
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

47 Applications for authorisation and verification: CTP definition and conditions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

48 Review
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .