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

Hearings and appeals before the Upper Tribunal

16.—(1) The following provisions of the Act apply in respect of a reference to the Upper Tribunal under—

(a) regulation 15, or

(b) the CRA Regulation(1),

as they apply in respect of such a reference under that Act.

(2) The provisions are—

(a) section 133 (proceedings before Tribunal: general provision)(2) as if, in subsection (7A), after paragraph (o), there were inserted—

“(p) a decision to impose a penalty under regulation 7 of the Credit Rating Agencies (Amendment, etc.) (EU Exit) Regulations 2019 (financial penalties);

(q) a decision to publish a statement under regulation 10 of those Regulations (public censure).”;

(b) section 133A (proceedings before Tribunal: decision and supervisory notices, etc)(3);

(c) section 133B (offences)(4).

(1)

See Article 18A of the CRA Regulation (inserted by regulation 75).

(2)

Substituted by S.I. 2010/22 and amended by section 23(2) of the Financial Services Act 2012 (c. 21), paragraph 83 of Schedule 9 to the Crime and Courts Act 2013 (c. 22), section 4(2) of the Financial Services (Banking Reform) Act 2013 (c. 33), S.I. 2013/1388, S.I. 2014/3329, S.I. 2016/680 and S.I. 2017/1064.

(3)

Inserted by S.I. 2010/22 and amended by section 23(3) of the Financial Services Act 2012 (c. 21).

(4)

Inserted by S.I. 2010/22 and amended by section 23(4) of the Financial Services Act 2012 (c. 21).