- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 No. 484
26.—(1) The appointed auction platform must report to the FCA the complete and accurate details of every transaction executed on the auction platform that results in the transfer of allowances to the successful bidders.
(2) The reports on the transactions pursuant to paragraph (1) must be submitted as quickly as possible, and no later than the close of the trading day following the transaction concerned.
(3) Where the successful bidder is a legal person, the appointed auction platform must, in reporting the designation to identify the successful bidder as required under paragraph 6 of this regulation, use a legal entity identifier referred to in Article 5 of Commission delegated regulation (EU) 2017/590 of 28 July 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the reporting of transactions to competent authorities (“Commission Delegated Regulation (EU) 2017/590”).
(4) The appointed auction platform must be responsible for the completeness, accuracy and timely submission of the reports, and insofar as there are details to transactions which are not available to the auction platforms, the bidders and the auctioneers must submit such information to the auction platform.
(5) Where there are errors or omissions in the transaction reports, the appointed auction platform must correct the information and submit a corrected report to the FCA.
(6) The report pursuant to paragraph (1) must, in particular, include the name of the allowances or allowances derivatives, the quantity bought, the dates and times of execution, the transaction prices, a designation to identify the successful bidders, and if applicable, the clients on whose behalf the transaction was executed.
(7) The report must be drawn up using data standards and formats established in the Commission Delegated Regulation (EU) 2017/590 and include all the relevant details referred to in Annex I to that Regulation.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: