The Securitisation Regulations 2018

Disciplinary powers under Part 14

4.—(1) Part 14 of the Act (Disciplinary Measures) applies in respect of a contravention of a requirement imposed by or under these Regulations as they apply in respect of a contravention of a requirement imposed by or under the Act, with the modifications set out in this paragraph.

(2) Section 204A(1) (meaning of “relevant requirement” and “appropriate regulator”) applies as if—

(a) in subsection (2) at the end there were inserted—

“; or

(e) by or under the Securitisation Regulations 2018.”;

(b) after subsection (3A) there were inserted—

“(3B) In the case of a contravention of a requirement that is imposed by or under the Securitisation Regulations 2018, the “appropriate regulator” for the purpose of any provision of this Part is whichever of the PRA or the FCA (or both) is the “appropriate regulator” under those Regulations.”;

(c) subsection (4), (5) and (6) were omitted.

(1)

Section 204A was amended by paragraph 10 of Schedule 9 to the Financial Services Act 2012 (c.21), section 23 of the Bank of England and Financial Services Act 2016 (c.14), S.I 2013/1773, 2016/225 and 2015/1864.