- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 No. 657
34.—(1) Omit Articles 37 (delegation of tasks between competent authorities) to 40 (competent authorities).
(2) In Article 41—
(a)omit paragraphs 1 to 3;
(b)in paragraph 4, for “to a competent authority in accordance with paragraph 1” substitute “at the request of the FCA or in response to a requirement imposed by the FCA in the exercise of its functions under Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 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”.
(3) Omit Articles 42 (administrative sanctions and other administrative measures) to 44 (obligation to cooperate).
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