The Central Securities Depositories Regulations 2014
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Change 1
2 Designation of competent authorities
(1) The FCA is the competent authority responsible for— (a) the supervision of trading venues for the purposes of the CSD regulation; (b) the functions referred to in Article 4(3) of the CSD regulation. (c) the supervision of investment firms authorised pursuant to Part 4A of the Act for the purposes of the CSD regulation; (d) the supervision of participants in a securities settlement system for the purposes of the CSD regulation, other than recognised clearing houses or recognised CSDs. (2) The Bank is the competent authority responsible for— (za) the functions referred to in Article 9(1) of the CSD regulation; (a) authorisation and supervision of CSDs established in the United Kingdom ..., and all other competent authority functions under that regulation in relation to CSDs except as provided in paragraph (4); (aa) ... competent authority functions under the CSD regulation in relation to ... third country CSDs; (b) oversight of securities settlement systems in the United Kingdom referred to in ... the CSD Regulation; ... (c) authorisation of a CSD under Article 54 of the CSD regulation for the provision of banking-type ancillary services— (i) by a CSD under paragraph (2)(a) of that Article, or (ii) by a designated credit institution under paragraph (2)(b) of that Article; and (d) the supervision of CCPs for the purposes of the CSD regulation. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) The PRA is the competent authority responsible for— (a) authorisation of a CSD referred to in Article 54(2)(a) of the CSD regulation as a credit institution; and (b) supervision in accordance with Article 60 of the CSD regulation— (i) of the provision of banking-type ancillary services authorised under Article 54 of the CSD regulation by a CSD referred to in Article 54(2)(a) of that Regulation and a credit institution referred to in Article 54(2)(b) of that Regulation, and (ii) of compliance with the prudential requirements referred to in Article 59 of the CSD regulation by a CSD referred to in Article 54(2)(a) of that Regulation and a credit institution referred to in Article 54(2)(b) of that Regulation.
2 Designation of competent authorities
(1) The FCA is the competent authority responsible for— (a) the supervision of trading venues for the purposes of the CSD regulation; (b) the functions referred to in Article 4(3) of the CSD regulation. (c) the supervision of investment firms authorised pursuant to Part 4A of the Act for the purposes of the CSD regulation; (d) the supervision of participants in a securities settlement system for the purposes of the CSD regulation, other than recognised clearing houses or recognised CSDs. (2) The Bank is the competent authority responsible for— (za) the functions referred to in Article 9(1) of the CSD regulation; (a) authorisation and supervision of CSDs established in the United Kingdom ..., and all other competent authority functions under that regulation in relation to CSDs except as provided in paragraph (4); (aa) ... competent authority functions under the CSD regulation in relation to ... third country CSDs; (b) oversight of securities settlement systems in the United Kingdom referred to in ... the CSD Regulation; ... (c) authorisation of a CSD under Article 54 of the CSD regulation for the provision of banking-type ancillary services— (i) by a CSD under paragraph (2)(a) of that Article, or (ii) by a designated credit institution under paragraph (2)(b) of that Article; and (d) the supervision of CCPs for the purposes of the CSD regulation. (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4) The PRA is the competent authority responsible for— (a) authorisation of a CSD referred to in Article 54(2)(a) of the CSD regulation as a credit institution; and (b) supervision in accordance with Article 60 of the CSD regulation— (i) of the provision of banking-type ancillary services authorised under Article 54 of the CSD regulation by a CSD referred to in Article 54(2)(a) of that Regulation and a credit institution referred to in Article 54(2)(b) of that Regulation, and (ii) of compliance with the prudential requirements referred to in Article 59 of the CSD regulation by a CSD referred to in Article 54(2)(a) of that Regulation and a credit institution referred to in Article 54(2)(b) of that Regulation.
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