PART 5Amendment of subordinate legislation: European Union (Withdrawal) Act 2018
Amendment of the Financial Services and Markets Act 2000 (Market Abuse) Regulations 20167
1
The Financial Services and Markets Act 2000 (Market Abuse) Regulations 201614 are amended as follows.
2
In regulation 2 (interpretation)—
a
omit the definition of “supplementary EU regulation”;
b
after the definition of “the market abuse regulation” insert—
“supplementary market abuse enactment” means—
- a
any EU regulation made under the market abuse regulation which is retained direct EU legislation;
- b
any instrument made under the market abuse regulation on or after exit day.
3
Regulation 3 (designation of competent authority) is omitted.
4
In regulation 4(1) (delayed public disclosure of inside information), for “competent authority specified under Article 17.3 only upon the request of that authority” substitute “FCA only upon the FCA’s request”.
5
In regulations 6(1) and 7 (applications and notifications under the market abuse regulation), for “supplementary EU regulation” substitute “supplementary market abuse enactment”.
6
In regulation 23 (review), omit paragraph (2).
7
In the Schedule (reporting of actual or potential contraventions of the market abuse regulation to the FCA)—
a
in paragraph 4(2), omit “an EU obligation or”;
b
in paragraph 8(2), omit “and that of other competent authorities”.