2. The Treasury specify that for the purpose of Article 28(4) of MiFIR(1) the legal and supervisory framework of the United States of America ensures that the trading venues listed in the Schedule to this Regulation
(a)comply with legally binding requirements which are equivalent to the requirements for the trading venues referred to in points (a), (b) and (c) of Article 28(1) of Regulation (EU) No 600/2014 resulting from that Regulation, Directive 2014/65/EU and Regulation (EU) No 596/2014; and
(b)are subject to effective supervision and enforcement by the CFTC in the United States of America.
Article 28(4) inserted by The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1403), regulations 1(3), 30(1)(c)(i)(bb) (as amended by S.I. 2019/1212, regulations 1(3), 14(4)(a) (as amended by S.I. 2020/1301, regulations. 1, 3, Schedule, paragraph 45(a)(ii))); 2020 (c. 1), Schedule 5 paragraph 1(1).