The Data Reporting Services Regulations 2017
| Jurisdiction | UK Non-devolved |
(1) These Regulations may be cited as the Data Reporting Services Regulations 2017.enabling applications to be made and determined under regulations 7 and 8;enabling the FCA to give guidance under regulation 20;enabling the FCA to prepare and issue a statement of policy under regulation 27;regulations 19 (co-operation) , 29 (offence of misleading the FCA) , 33 (application of Part 11 of the Act: information gathering and investigations) , 35 (restrictions on disclosure of information) , 37 (application of Part 26 of the Act: notices) , 38 (application of Part 27 of the Act: offences) and 42 (disclosure of confidential information) ; andregulation 40 (penalties, fees and exemption from liability in damages) in so far as it relates to a matter referred to in paragraph (i) , (ii) , (iii) or (iv) ;for all other purposes on 3rd January 2018.(1) In these Regulations—
- “the Act” means the Financial Services and Markets Act 2000 ;
- “APA” means a person authorised under regulation 10 F68or 12A to provide the service of publishing trade reports on behalf of investment firms pursuant to Articles 20 and 21 of the markets in financial instruments regulation;
- “ARM” means a person authorised under regulation 10 F69or 12A to provide the service of reporting details of transactions to F70the competent authority on behalf of investment firms;
- “authorised person” has the meaning given in section 31(2) of the Act;
- F71“Commission Delegated Regulation (EU) 2017/565” means Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive;
- F71“Commission Delegated Regulation (EU) 2017/571” means Commission Delegated Regulation (EU) 2017/571 of 2 June 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards on the authorisation, organisational requirements and the publication of transactions for data reporting services providers;
- F72“credit institution” has the meaning given in Article 2.1.19 of the markets in financial instruments regulation;
- “CTP” means a person authorised under regulation 10 F73or 12A to provide the service of collecting trade reports for financial instruments listed in Articles 6, 7, 10, 12, 13, 20 and 21 of the markets in financial instruments regulation from regulated markets, multilateral trading facilities, organised trading facilities and APAs and consolidating them into a continuous electronic live data stream providing price and volume data per financial instrument;
- “data reporting service” means—
- (a) the service of publishing trade reports on behalf of investment firms pursuant to Articles 20 and 21 of the markets in financial instruments regulation;
- (b) the service of reporting details of transactions to F74the competent authority on behalf of investment firms; or
- (c) the service of collecting trade reports for financial instruments listed in Articles 6, 7, 10, 12, 13, 20 and 21 of the markets in financial instruments regulation from regulated markets, multilateral trading facilities, organised trading facilities and APAs and consolidating them into a continuous electronic live data stream providing price and volume data per financial instrument;
- “data reporting service provider” means an APA, an ARM or a CTP; ...
- “the FCA” means the Financial Conduct Authority;
- “financial instrument” has the meaning given in F76Article 2.1.9 of the markets in financial instruments regulation; ...
- F78“investment firm” has the meaning given in Article 2.1A of the markets in financial instruments regulation;
- “management body” in relation to a data reporting service provider means—
- (a) the board of directors, or if there is no such board, the equivalent body responsible for the management of the data reporting service provider; and
- (b) any other person who effectively directs the business of the provider;
- “the markets in financial instruments directive” means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (recast) ;
- “the markets in financial instruments regulation” means Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments ;
- F79“multilateral trading facility” means a “UK multilateral trading facility” within the meaning given in Article 2.1.14A of the markets in financial instruments regulation;
- F80“organised trading facility” means a “UK organised trading facility” within the meaning given in Article 2.1.15A of the markets in financial instruments regulation;
- “overseas clearing house” and “overseas investment exchange” have the meanings given in section 313(1) of the Act ;
- “the PRA” means the Prudential Regulation Authority;
- “PRA-authorised person” has the meaning given in section 2B(5) of the Act ;
- “recognised body” has the meaning given in section 313(1) of the Act, but does not include—
- (a) an overseas investment exchange, or
- (b) an overseas clearing house;
- “recognised clearing house” has the meaning given in section 285(1) (b) of the Act but does not include an overseas clearing house;
- “recognised CSD” means a legal person established in the United Kingdom who is authorised by the Bank of England for the purposes of Article 16 of Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories ;
- “recognised investment exchange” has the meaning given in section 285(1) (a) of the Act, but does not include an overseas investment exchange;
- “recognition order” has the meaning given in section 313(1) of the Act;
- “register” means the register maintained by the FCA under regulation 6;
- F81“regulated market” means a “UK regulated market” within the meaning of Article 2.1.13A of the markets in financial instruments regulation;
- F82“senior management” means natural persons who exercise executive functions within an investment firm, a market operator (as defined in Article 2(1) (10) of the markets in financial instruments regulation) or a data reporting services provider and who are responsible, and accountable to the management body, for the day-to-day management of the entity, including for the implementation of the policies concerning the distribution of services and products to clients by the firm...
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