http://www.legislation.gov.uk/id/uksi/2019/266

http://www.legislation.gov.uk/uksi/2019/266/regulation/10

The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019

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EXITING THE EUROPEAN UNION

FINANCIAL SERVICES AND MARKETS

Statute Law Database

2024-05-16

Expert Participation

2023-07-11

These Regulations make amendments to retained EU law related to credit rating agencies to ensure that it continues to operate effectively in the United Kingdom once the United Kingdom has left the EU. In particular, they make provision for a function of an EU entity under retained EU law to be exercised instead by the Financial Conduct Authority (“the FCA”). As such, section 8(2)(b) of the European Union (Withdrawal) Act 2018 (c. 16) is relevant to these Regulations.

The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019

Regulations

Financial Services and Markets Act 2023

Sch. 1

Pt. 2

s. 1(4)

s. 86(3)

reg. 5(c)(iii)

The Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019

PART 3Enforcement

CHAPTER 2Public censure

Public censureI110

If the FCA considers that a F1person has contravened a requirement imposed by or under these Regulations, or by or under the CRA Regulation, the FCA may publish a statement to that effect.

Annotations:

Commencement Information

Reg. 10 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)

Amendments (Textual)

Word in reg. 10 substituted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 50(2)(d)