- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
9.—(1) The FCA may direct a non-authorised counterparty to take, or refrain from taking, specified action where—
(a)it appears to the FCA that the non-authorised counterparty has contravened an SFTR requirement; and
(b)the FCA considers the action necessary to—
(i)end any conduct which is contributing to a continuing contravention of an SFTR requirement; or
(ii)prevent 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(1).
(4) The FCA may revoke a direction given under this regulation.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: