The Markets in Financial Instruments, Benchmarks and Financial Promotions (Amendment) (EU Exit) Regulations 2021

Amendment of the Markets in Financial Instruments Regulation

3.—(1) Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012(1) is amended as follows.

(2) In Article 35—

(a) in paragraph 1, after “648/2012”, the first time it occurs, insert “and subject to paragraph 1A”;

(b) after paragraph 1 insert—

“1A.   Paragraph 1 does not apply in relation to exchange-traded derivatives.”;

(c) in paragraph 3, omit “and within six months in the case of exchange-traded derivatives,”;

(d) in paragraph 4—

(i) omit point (a), and “or” at the end of the point”;

(ii) omit the second and third sub-paragraphs.

(3) In Article 36—

(a) in paragraph 1, after “648/2012”, the first time it occurs, insert “and subject to paragraph 1A”;

(b) after paragraph 1 insert—

“1A.   Paragraph 1 does not apply in relation to exchange-traded derivatives.”;

(c) in paragraph 3, omit “and within six months in the case of exchange-traded derivatives,”;

(d) in paragraph 4—

(i) omit point (a), and “or” at the end of the point;

(ii) omit the second and third sub-paragraphs.

(e) omit paragraphs 5 and 6(d).

(1)

EUR 2014/600, as amended by S.I. 2018/1403 (itself amended by 2019/576, 710, 1212, 2020/1055, 1301), and by EUR 2019/2175.