The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019

CHAPTER 3 Amendments of retained direct EU legislation

Amendment of Regulation (EU) No 236/2012

10.—(1) Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14th March 2012(1) on short selling and certain aspects of credit default swaps is amended as follows.

(2) In Article 34, omit paragraph 2.

(3) In Article 38(2), for “shall, where possible,” substitute “may”.

Amendment of Regulation (EU) No 596/2014

11.—(1) Regulation (EU) 596/2014 of the European Parliament and of the Council of 16th April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC(2) is amended as follows.

(2) In Article 26(1), in the first place that it occurs, for “shall, where necessary” substitute “may”.

Amendment of Regulation (EU) No 2015/2365

12.—(1) Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25th November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012(3) is amended as follows.

(2) In Article 18(4)—

(a) in paragraph (2), for the words “the FCA receives in the course of its duties” substitute “those persons receive in the course of their duties”;

(b) in paragraph (3)—

(i) for the words “the FCA, when it receives” substitute “where the competent authorities receive”;

(ii) after the words “pursuant to this Regulation” insert “they”;

(iii) for the words “its duties and for the exercise of its functions” substitute “their duties and for the exercise of their functions”;

(iv) in the final sentence, for “the FCA” substitute “the competent authorities”.

(c) for paragraph (5), substitute—

“(5) Paragraphs 1, 2 and 3 shall not prevent the competent authorities from exchanging or transmitting confidential information in accordance with any provision of the law applying in any part of the United Kingdom.”.

(1)

OJ No. L 86, 24.3.2012 p.1.

(2)

OJ No. L 173, 12.6.2014, p.1.

(3)

OJ No. L 337, 23.12.2015, p.1.

(4)

The reference to article 18 is as amended by the Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/542).