The Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016
| Jurisdiction | UK Non-devolved |
| Citation | SI 2016/715 |
| Year | 2016 |
(1) These Regulations may be cited as the Financial Services and Markets Act 2000 (Transparency of Securities Financing Transactions and of Reuse) Regulations 2016.(2) These Regulations come into force on 13th July 2016.(1) In these Regulations—an authorised person; a recognised investment exchange;
a recognised central counterparty a recognised CSD. it is necessary for the FCA to determine whether a person is subject to an SFTR requirement; orthe FCA requires information or documents from a non-authorised counterparty in connection with the exercise of its functions under the SFT regulation or these Regulations.to provide specified information or information of a specified description; orto produce specified documents or documents of a specified description.before the end of such reasonable period as may be specified; andat such place as may be specified.(4) The FCA may require any information provided under this regulation to be provided in such a form as it may reasonably require.any information provided, whether in a document or otherwise, to be verified in such a manner; orany document produced to be authenticated in such a manner,(6) In this regulation “specified” means specified in the notice.(1) Section 166 (2) In section 166(1) the reference to any matter is to be read as a reference to any matter related to the exercise of the FCA's functions under the SFT regulation.(3) In section 166(2) (a) the reference to an authorised person is to be read as a reference to a non-authorised counterparty.(1) Section 175 (2) In subsection (1) and (3) of section 175 the reference to an investigator is to be ignored.(3) Section 175(8) is to be ignored.an SFTR requirement;any matter relating to the functions of the FCA under these Regulations; orany other matter about which it appears to the FCA to be desirable to give information or advice in connection with these Regulations.publish its guidance;offer copies of its published guidance for sale at a reasonable price; orif it gives guidance in response to a request made by any person, make a reasonable charge for that guidance.it appears to the FCA that the non-authorised counterparty has contravened an SFTR requirement; andend any conduct which is contributing to a continuing contravention of an SFTR requirement; orprevent a further contravention of an SFTR requirement.(2) The direction may specify the time for compliance with the direction.(3) The direction is enforceable, on the application of the FCA, by an injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988 (4) The FCA may revoke a direction given under this regulation.(1) Before giving a direction under regulation 9 the FCA must give written notice of its intention to do so to the non-authorised counterparty concerned.state why the FCA intends to give the direction; andstate a period of
- “the Act” means the Financial Services and Markets Act 2000;
- “Bank” means the Bank of England;
- F42“recognised CSD” has the meaning given in section 285(1) of the Act;
- “SFTR requirement” means a requirement imposed by—
- (a) Article 4 or 15 of the SFT regulation ; or
- (b) any directly applicable regulation made under Article 4(9) or 4(10) of the SFT regulation.
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