TITLE VI

REGISTRATION AND SUPERVISION OF TRADE REPOSITORIES
CHAPTER 1

Conditions and procedures for registration of a trade repository

Withdrawal of registration
Article 71
1
The FCA may, on its own initiative, withdraw the registration of a trade repository where the trade repository:
a
expressly renounces the registration or has provided no services for the preceding 6 months;
b
obtained the registration by making false statements or by any other irregular means; or
c
no longer meets the conditions for registration.
2
The FCA may also, on its own initiative, withdraw the registration of a trade repository where it is desirable to do so to advance one or more of its operational objectives set out in section 1B(3) of the FSMA.
3
The FCA may, on an application by a trade repository, withdraw the registration of the trade repository.
4
The decision to withdraw the registration of a trade repository under paragraph 1, 2 and 3 shall be reflected in the Register.
Arts. 71-71b substituted for Art. 71 (31.12.2020) by The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/335), regs. 1(1), 56(2) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)