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The Data Reporting Services Regulations 2024
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- UK Statutory Instruments
- 2024 No. 107
- PART 3
- CHAPTER 2
- Regulation 16
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Supervision, monitoring and enforcement
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16. Section 1L of FSMA 2000(1) (supervision, monitoring and enforcement) applies with respect to the supervision, monitoring and enforcement of persons on whom requirements are imposed by or under these Regulations, as it applies to arrangements for supervision, monitoring and enforcement of persons under that Act as if—
(a)subsection (1) were omitted;
(b)for subsection (2) there were substituted—
“(2) The FCA must maintain arrangements designed to enable it to determine whether persons in respect of whom requirements are imposed by or under the Data Reporting Services Regulations 2024, within the meaning of regulation 2(4) of those Regulations, are complying with them.”;
(c)for subsection (3) there were substituted—
“(3) The FCA must also maintain arrangements for enforcing compliance with the provisions of the Data Reporting Services Regulations 2024.”.
(1)
Section 1L was inserted by section 6 of the Financial Services Act 2012 and amended by S.I. 2013/1773 and 2019/632.
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