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The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019

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  1. Introductory Text

  2. PART 1 PRELIMINARY

    1. 1.Citation, commencement and interpretation

  3. PART 2 AMENDMENT OF SUBORDINATE LEGISLATION

    1. 2.Amendments to the Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013

    2. 3.Interpretation

    3. 4.Designation of competent authorities

    4. 5.Applications, notifications and reports to the FCA

    5. 6.Penalties and statements

    6. 7.Investigatory powers of ESMA with regard to trade repositories

    7. 8.Transitional provision

  4. PART 3 AMENDMENT AND REVOCATION OF RETAINED DIRECT EU LEGISLATION

    1. CHAPTER 1 AMENDMENT OF THE EMIR REGULATION

      1. 9.Amendments to the EMIR regulation

      2. 10.Subject matter and scope

      3. 11.Definitions

      4. 12.Equivalence decisions for the purposes of the definition of OTC derivatives

      5. 13.Intragroup transactions

      6. 14.Clearing obligation

      7. 15.Clearing obligation procedure

      8. 16.Public register

      9. 17.Access to a CCP

      10. 18.Access to a trading venue

      11. 19.Reporting obligation

      12. 20.Non-financial counterparties

      13. 21.Risk-mitigation techniques for OTC derivative contracts not cleared by a CCP

      14. 22.Penalties

      15. 23.Mechanism to avoid duplicative or conflicting rules

      16. 24.Conditions for making technical standards

      17. 25.Authorisation of a CCP

      18. 26.Extension of activities and services

      19. 27.Capital requirements

      20. 28.Procedure for granting and refusing authorisation

      21. 29.College

      22. 30.Opinion of the college

      23. 31.Withdrawal of authorisation

      24. 32.Review and evaluation

      25. 33.Competent authority

      26. 34.Cooperation

      27. 35.Organisational requirements: general provisions

      28. 36.Record keeping

      29. 37.Information

      30. 38.Assessment

      31. 39.Business continuity

      32. 40.Outsourcing

      33. 41.Transparency

      34. 42.Segregation and portability

      35. 43.Margin requirements

      36. 44.Default fund

      37. 45.Liquidity risk controls

      38. 46.Default waterfall

      39. 47.Collateral requirements

      40. 48.Investment policy

      41. 49.Default procedures

      42. 50.Review of models, stress testing and back testing

      43. 51.Calculation of Kccp

      44. 52.Reporting of information

      45. 53.Risk management

      46. 54.Provision of margins among CCPs

      47. 55.Approval of interoperability arrangements

      48. 56.Trade Repositories

      49. 57.Professional secrecy

      50. 58.Exchange of information

      51. 59.Transitional and final provisions

      52. 60.List of infringements referred to in paragraph 1 of Article 65

      53. 61.List of the coefficients linked to aggravating and mitigating factors for the application of paragraph 3 of Article 65

    2. CHAPTER 2 REVOCATION OF COMMISSION DELEGATED REGULATIONS MADE UNDER THE EMIR REGULATION

      1. 62.Commission Delegated Regulation (EU) No. 1003/2013

      2. 63.Commission Delegated Regulation (EU) No. 667/2014

  5. PART 4 SPECIFIC PROVISION FOR TRADE REPOSITORIES

    1. CHAPTER 1 PRELIMINARY

      1. 64.Interpretation of Part 4

    2. CHAPTER 2 ENFORCEMENT PROVISIONS RELATING TO TRADE REPOSITORIES

      1. 65.Warning notice

      2. 66.Decision notice

      3. 67.Public censure

      4. 68.Financial penalties

      5. 69.Statement of policy

      6. 70.Statement of policy: procedure

      7. 71.Powers to issue guidance

      8. 72.Injunctions

    3. CHAPTER 3 APPLICATION OF THE FSMA FOR THE PURPOSES OF THIS PART, THE EMIR REGULATION AND THE TRATP REGULATIONS

      1. 73.Application of Part 9 of the FSMA (hearings and appeals)

      2. 74.Application of Part 9A of the FSMA (rules and guidance)

      3. 75.Application of Part 11 of the FSMA (information gathering and investigations)

      4. 76.Application of Part 26 of the FSMA (notices)

      5. 77.Application of Part 27 of the FSMA (offences)

      6. 78.Application of Schedule 1ZA to the FSMA (the Financial Conduct Authority)

  6. PART 5 TRANSITIONAL PROVISIONS: INTRAGROUP TRANSACTIONS

    1. 79.Interpretation

    2. 80.Continuation of exemptions from certain clearing obligations and risk-management obligations

    3. 81.Relevant day for the purposes of regulation 80

    4. 82.New exemptions from certain clearing obligations and risk-management obligations

    5. 83.Relevant day for the purposes of regulation 82

    6. 84.Regulations

  7. Signature

  8. Explanatory Note

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