The Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018

Amendment of provision in respect of registration of a trade repository

2.—(1) Chapter 1 of Title 6 of the European Markets Infrastructure Regulation (conditions and procedures for registration of a trade repository) is amended as follows.

(2) In Article 55 (registration of a trade repository)—

(a) in paragraph 1, for “ESMA” substitute “the FCA”;

(b) in paragraph 2, for “Union” substitute “United Kingdom”;

(c) omit paragraph 3;

(d) in paragraph 4, for “ESMA” substitute “the FCA”.

(3) In Article 56 (application for registration)—

(a) in paragraph 1, for “ESMA” substitute “the FCA”;

(b) in paragraph 2—

(i) for “ESMA”, where first occurring, substitute “The FCA”;

(ii) for “ESMA”, wherever else occurring, substitute “the FCA”;

(c) for paragraph 3 substitute—

“3.   The FCA may make technical standards specifying the form and content of applications under paragraph 1.”;

(d) omit paragraph 4.

(4) Omit Article 57 (notification of and consultation with competent authorities prior to registration).

(5) In Article 58 (examination of the application)—

(a) in paragraph 1, for “ESMA” substitute “The FCA”;

(b) omit paragraph 2.

(6) Omit Article 59 (notification of ESMA decisions relating to registration).