Citation and extent

1. —(1) These Regulations may be cited as the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2024.

(2) These Regulations extend to England and Wales, Scotland and Northern Ireland.

Commencement

2. —(1) The following regulations come into force on 1st December 2024—

(a) regulation 1 (citation and extent)

(b) regulation 2 (commencement)

(c) regulation 3 (amendment of Regulation (EU) No 600/2014

(d) regulations 5(1), (2), (3) and (4) (amendment of Commission Delegated

(e) regulation 6 (amendment of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017);

(f) regulation 7 (amendment of the Data Reporting Services Regulations 2024).

(2) Regulation 5(5) (amendment of Commission Delegated

(3)Regulation 4 (amendment of the Bank Recovery and Resolution (No. 2) Order 2014) comes into force on 1st December 2025.

Amendment of Regulation (EU) No 600/2014

3. In Article 22 of Regulation (EU) No 600/2014Regulation (EU) No 648/2012 2 ), in paragraph 1, after “imposed by” insert “or under” .

Amendment of the Bank Recovery and Resolution (No. 2) Order 2014

4. —(1)The Bank Recovery and Resolution (No. 2) Order 2014( 3 ) is amended as follows.

(2) In article 2( 4 ), in paragraph (1), in paragraph (a)(iv) of the definition of “conditions for early intervention”, after “Financial Instruments” insert “, or rules made under them” .

(3) In article 220A (modified application of the Companies Act 2006)( 5 ), in paragraph (5), in modified section 307B(2)(a)(ii) of the Companies Act 2006, for “one or more of” substitute “a requirement imposed by or under” .

Amendment of Commission Delegated Regulation (EU) 2017/567

5. —(1) Commission Delegated Regulation (EU) No 600/2014 6 ) is amended as follows.

(2) In Article 5 (assessment of liquidity of equity instruments by the competent authorities), in paragraph 6, omit “9 or ”.

(3) Omit Articles 6 to 11.

(4) Omit Article 16.

(5) Omit Articles 17 and 18.

Amendment of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017

6. In regulation 29(2) of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017( 7 ) in the definition of “position”, for “an EEA State” substitute “the United Kingdom” .

Amendment of the Data Reporting Services Regulations 2024

7. In regulation 2(1) of the Data Reporting Services Regulations 2024( 8 )—

(a) in the definition of “APA”, after “pursuant to” insert “, or pursuant to rules made by virtue of,” ;

(b) in the definition of “CTP”, after “listed in” insert “, or listed in rules made by virtue of,” ;

(c) in paragraph (a) of the definition of “data reporting service”, after “pursuant to” insert “, or pursuant to rules made by virtue of,” .