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The Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019
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- UK Statutory Instruments
- 2019 No. 541
- SCHEDULE 2
- Markets in financial instruments
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This version of this part contains provisions that are prospective.
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Changes to legislation:
The Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019, Markets in financial instruments is up to date with all changes known to be in force on or before 22 June 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 2 Part 2:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Prospective
Markets in financial instrumentsU.K.
2.—(1) In Commission Implementing Decision (EU) 2017/2320 of 13 December 2017 on the equivalence of the legal and supervisory framework of the United States of America for national securities exchanges and alternative trading systems in accordance with Directive 2014/65/EU of the European Parliament and of the Council M1—U.K.
(a)in Article 1, for the words from “considered” to the end, substitute—
“considered—
(a)to be equivalent to the requirements for UK regulated markets as defined in Regulation (EU) 600/2014, resulting from—
(i)Regulation (EU) 596/2014;
(ii)Title II of Regulation (EU) 600/2014; and
(iii)the law of the United Kingdom which was relied on by the United Kingdom immediately before [F1IP completion day] to implement Title III of Directive 2014/65/EU and Directive 2004/109/EC, and
(b)to be subject to effective supervision and enforcement.”;
(b)in the Annex to the Decision, for “regulated markets as defined in Directive 2014/65/EU”, both times it appears, substitute “ UK regulated markets as defined in Regulation (EU) 600/2014 ”.
(2) In the Commission Implementing Decisions listed in sub-paragraph (3), in Article 1, for the words from “considered” to the end, substitute—
“considered—
(a)to be equivalent to the requirements for UK regulated markets as defined in Regulation (EU) 600/2014, resulting from—
(i)Regulation (EU) 596/2014;
(ii)Title II of Regulation (EU) 600/2014; and
(iii)the law of the United Kingdom which was relied on by the United Kingdom immediately before [F2IP completion day] to implement Title III of Directive 2014/65/EU and Directive 2004/109/EC and
(b)to be subject to effective supervision and enforcement.”;
(3) The Commission Implementing Decisions listed in this sub-paragraph are—
(a)Commission Implementing Decision (EU) 2017/2318 of 13 December 2017 on the equivalence of the legal and supervisory framework in Australia applicable to financial markets in accordance with Directive 2014/65/EU of the European Parliament and of the Council;
(b)Commission Implementing Decision (EU) 2017/2319 of 13 December 2017 on the equivalence of the legal and supervisory framework applicable to recognised exchange companies in Hong Kong Special Administrative Region in accordance with Directive 2014/65/EU of the European Parliament and of the Council.
Textual Amendments
F1Words in Sch. 2 para. 2(1)(a) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 29(a)
F2Words in Sch. 2 para. 2(2) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 29(b)
Commencement Information
I1Sch. 2 para. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1OJ L 331, 14.12.2017, p. 94.
3. In Commission Implementing Decision (EU) 2017/2238 of 5 December 2017 on the equivalence of the legal and supervisory framework applicable to designated contract markets and swap execution facilities in the United States of America in accordance with Regulation (EU) No 600/2014 of the European Parliament and of the Council—U.K.
(a)in Article 1, for “Directive 2014/65/EC” substitute “ that Regulation ”)”;
(b)in the Annex to the decision, for “Directive 2014/65/EU” both times it occurs, substitute “ Regulation (EU) 600/2014 ”.
Commencement Information
I2Sch. 2 para. 3 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
4. In Commission Implementing Decision (EU) 2018/2047 of 20 December 2018 on the equivalence of the legal and supervisory framework applicable to stock exchanges in Switzerland in accordance with Directive 2014/65/EU of the European Parliament and of the Council, in Article 1—U.K.
(a)for “Directive 2014/65/EC” substitute “ that Regulation ”;
(b)for “Directive 2004/39/EC” substitute “ the law of the United Kingdom which was relied on by the United Kingdom immediately before [F3IP completion day] to implement Directive 2004/39/EC ”.
Textual Amendments
F3Words in Sch. 2 para. 4(b) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 29(c)
Commencement Information
I3Sch. 2 para. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
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