73. Part 26 of the Act (notices) is amended as follows.
Commencement Information
I1Reg. 73 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)
74.—(1) Section 391 M1 (publication) is amended as follows.
(2) Omit subsections (7A) M2 and (7B) M3.
(3) In subsection (8A) M4, for “requirement imposed by the CSD regulation or any directly applicable regulation made under the CSD regulation” substitute “ CSD requirement ”.
(4) After subsection (8A) insert—
“(8AA) A “CSD requirement” is a requirement imposed by—
(a)the CSD regulation,
(b)any EU regulation, originally made under the CSD regulation, which is retained direct EU legislation, or
(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the CSD regulation on or after [F1IP completion day].”.
(5) In subsection (8B) M5, for “requirement imposed by the market abuse regulation or a directly applicable EU regulation made under the market abuse regulation” substitute “ market abuse requirement ”.
(6) After subsection (8B) insert—
“(8BA) A “market abuse requirement” is a requirement imposed by—
(a)the market abuse regulation,
(b)any EU regulation, originally made under the market abuse regulation, which is retained direct EU legislation, or
(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the market abuse regulation on or after [F2IP completion day].”.
(7) In subsection (8D) M6—
(a)omit the “or” at the end of paragraph (a);
(b)in paragraph (b)—
(i)for “directly applicable regulation” substitute “ EU regulation, originally ”, and
(ii)at the end insert “ which is retained direct EU legislation, ”;
(c)after paragraph (b) insert—
“or
(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the PRIIPs regulation on or after [F3IP completion day],”.
(8) In subsection (8E) M7, for the words from “imposed by” to “this section” substitute—
“imposed by—
(a)the EU Benchmarks Regulation 2016,
(b)any EU regulation, originally made under the EU Benchmarks Regulation 2016, which is retained direct EU legislation, or
(c)any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the EU Benchmarks Regulation on or after [F4IP completion day],
this section”.
(9) Omit subsection (8F) M8.
Textual Amendments
F1Words in reg. 74(4) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 33(g)(i)
F2Words in reg. 74(6) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 33(g)(ii)
F3Words in reg. 74(7)(c) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 33(g)(iii)
F4Words in reg. 74(8) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 33(g)(iv)
Commencement Information
I2Reg. 74 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)
Marginal Citations
M1Section 391 was amended by sections 13(1) and (3), 24(1) and (2) of, and paragraphs 1 and 28 of Part 1 of Schedule 2 to, the Financial Services Act 2010, sections 24(2) and 37(1) of, and paragraph 1 of Part 1 and paragraphs 30(1), (2), (3), (4)(a), (4)(b), (5), (6), (7), (8) of Part 6 of Schedule 9 to, the Financial Services Act 2012, section 4(3) of the Financial Services (Banking Reform) Act 2013, S.I. 2012/916, 2013/1388, 2013/3115, 2014/2879, 2015/1755, 2016/225, 2016/680, 2016/715, 2017/701, 2017/1127 and 2018/135.
M2Subsection (7A) was inserted by S.I. 2012/916 and amended by section 37(1) of, paragraph 1 of Part 1 and paragraphs 30(1) and (8) of Part 6 of Schedule 9 to, the Financial Services Act 2012.
M3Subsection (7B) was inserted by S.I. 2012/916 and amended by S.I. 2016/680 and 2017/701.
M4Subsection (8A) was inserted by S.I. 2014/2879.
M5Subsection (8B) was inserted by S.I. 2016/680.
M6Subsection (8D) was inserted by S.I. 2017/1127.
M7Subsection (8E) was inserted by S.I. 2018/135.
M8Subsection (8F) was inserted by S.I. 2018/1288.
75.—(1) Section 391A M9 (publication: special requirements relating to capital requirements directive) is amended as follows.
(2) In the heading, for “the capital requirements directive” substitute “ capital requirements ”.
(3) In subsection (1) for “to which Article 68(1) of the capital requirements directive applies.” substitute —
“for breach of—
(a)a provision made in or under this Act for the purpose of implementing the capital requirements directive, or
(b)a provision of the capital requirements regulation.”.
(4) In subsection (6) M10—
(a)at the end of paragraph (a) insert “ and ”; and
(b)omit paragraph (c), and the “and” preceding it.
Commencement Information
I3Reg. 75 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)
Marginal Citations
M9Section 391A was inserted by S.I. 2013/3115 and amended by S.I. 2015/1755.
M10Subsection (6) was amended by section 211(1)(a) of, and paragraphs 48 and 50 of Part 1 of Schedule 19 to, the Data Protection Act 2018 (c. 12).
76.—(1) Section 391B M11 (publication: special provisions relating to the transparency obligations directive) is amended as follows.
(2) In the heading, for “the transparency obligations directive” substitute “ transparency obligations ”.
(3) In subsection (1) for “to which Article 29(1) of the transparency obligations directive applies” substitute “ for breach of a provision made in or under this Act for the purpose of implementing the transparency obligations directive ”.
Commencement Information
I4Reg. 76 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)
Marginal Citations
M11Section 391B was inserted by S.I. 2015/1755.
77.—(1) Section 391C M12 (publication: special provisions relating to the UCITS directive) is amended as follows.
(2) In the heading, for “the UCITS directive” substitute “ UCITS ”.
(3) In subsection (1) for “to which Article 99 of the UCITS directive applies” substitute “ for breach of a provision made in or under this Act for the purpose of implementing the UCITS directive ”.
(4) In subsection (7) M13, omit paragraph (b), and the “and” preceding it.
Commencement Information
I5Reg. 77 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)
Marginal Citations
M12Section 391C was inserted by S.I. 2016/225 and amended by section 211(1)(a) of, and paragraphs 48 and 51 of Part 1 of Schedule 19 to, the Data Protection Act 2018.
M13Subsection (7) was amended by section 211(1)(a) of, and paragraphs 48 and 51 of Part 1 of Schedule 19 to, the Data Protection Act 2018.
78.—(1) Section 391D M14 (publication: special provisions relating to the markets in financial instruments directive) is amended as follows.
(2) In the heading, for “the markets in financial instruments directive” substitute “ markets in financial instruments ”.
(3) In subsection (1), for “to which Article 71 of the markets in financial instruments directive applies.” substitute—
“for breach of—
(a)a provision made in or under this Act for the purpose of implementing the markets in financial instruments directive, or
(b)a provision of the markets in financial instruments regulation.”.
(4) In subsection (9) M15, omit paragraph (b), and the “and” preceding it.
Commencement Information
I6Reg. 78 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)
Marginal Citations
M14Section 391D was inserted by S.I. 2017/701 and amended by S.I. 2018/625.
M15Subsection (9) was amended by section 211(1)(a) of, and paragraphs 48 and 52 of Part 1 of Schedule 19 to, the Data Protection Act 2018.
79.—(1) Section 391E M16 (publication: special provisions relating to the insurance distribution directive) is amended as follows.
(2) In the heading, for “the insurance distribution directive” substitute “ insurance distribution ”.
(3) In subsection (1), for “to which Article 32 of the insurance distribution directive applies” substitute “ for breach of a provision made in or under this Act for the purpose of implementing the insurance distribution directive ”.
(4) Omit subsection (5).
Commencement Information
I7Reg. 79 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)
Marginal Citations
M16Section 391E was inserted by S.I. 2018/546.