TITLE IITRANSPARENCY FOR TRADING VENUES
CHAPTER 2Transparency for non-equity instruments
F1Article 9Article 8: waivers or suspensions for fixed income instruments and derivatives etc
(1.
Rules under Article 8 may include provision for any requirements imposed by the rules to be waived in such cases, and to such extent, as may be determined by or under the rules.
(2.
Rules that include provision under paragraph 1 may impose whatever conditions on the application of a waiver the FCA considers appropriate.
(3.
The FCA may by notice given to a relevant person withdraw a waiver granted by virtue of paragraph 1 if the FCA considers that the waiver is being used—
(a)
in a way that deviates from its original purpose, or
(b)
to avoid requirements provided for in the rules.
(4.
The FCA may by notice suspend requirements imposed by rules under Article 8 in the case of such relevant instruments, or class of relevant instruments, as may be specified in the notice.
(5.
A notice under paragraph 4 suspending requirements—
(a)
may be given subject to conditions;
(b)
must specify the period for which the suspension has effect;
(c)
must be published in the manner appearing to the FCA to be best calculated to bring it to the attention of persons likely to be affected by it;
(d)
may be varied or withdrawn by the giving of a further notice (and sub-paragraph (c) applies to any such notice).
(6.
The power under paragraph 4 to suspend requirements is exercisable only if the FCA considers that it is necessary to do so to advance the FCA’s integrity objective under section 1D of FSMA.
(7.
In deciding whether to exercise the power under paragraph 4 to suspend requirements the FCA must also have regard to—
(a)
its consumer protection objective under section 1C of FSMA, and
(b)
its competition objective under section 1E of FSMA.