European Union (Markets in Financial Instruments) (Amendment) (No. 2) Regulations 2021
Source: Iris Oifigiúl S.I. No. 258 of 2021 2021-05-28 634

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paragraphs: (1) These Regulations may be cited as the European Union (Markets in Financial Instruments) (Amendment) (No. 2) Regulations 2021.
(2) These Regulations shall come into operation on 1 January 2022.
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paragraphs: In these Regulations “Principal Regulations” means the European Union (Markets in Financial Instruments) Regulations 2017 (S.I. No. 375 of 2017).
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paragraphs: Regulation 2 of the Principal Regulations is amended, in paragraph (1) –
(a) by the substitution of “markets, and” for “markets,” in subparagraph (c), and
(b) by the deletion of subparagraph (d).
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paragraphs: Regulation 3(1) of the Principal Regulations is amended –
(a) in the definition of “management body”, by the substitution of “a market operator, or a data reporting services provider as defined in point (36a) of Article 2(1) of Regulation (EU) No 600/20143 ,” for “market operator or data report services provider,”,
(b) in the definition of “senior management”, by the substitution of “a market operator, or a data reporting services provider as defined in point (36a) of Article 2(1) of Regulation (EU) No 600/20143 ,” for “a market operator or a data report services provider”,
(c) by the deletion of the definitions of “approved publication arrangement”, “approved reporting mechanism”, “consolidated tape provider” and “data reporting services provider”, and
(d) in the definition of “home Member State”, by the deletion of paragraph (c).
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paragraphs: Regulation 29 of the Principal Regulations is amended, in paragraph (1) –
(a) in subparagraph (a), by the deletion of “and”,
(b) in subparagraph (b), by the substitution of “Bank, and” for “Bank.”, and
(c) by the insertion of the following paragraph after subparagraph (b):
“(c) shall monitor the activities of an approved publication arrangement (APA), as defined in point (34) of Article 2(1) of Regulation (EU) No 600/20143 (referred to subsequently in this subparagraph as the ‘Regulation’) that is the subject of a derogation provided in accordance with Article 2(3) of the Regulation, or an approved reporting mechanism (ARM), as defined in point (36) of Article 2(1) of the Regulation that is the subject of a derogation provided in accordance with Article 2(3) of the Regulation so as to assess compliance with the operating conditions provided for in the Regulation, and shall ensure that the appropriate measures are in place to enable it to obtain the information needed to assess the compliance of APAs and ARMs with those obligations.”.
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paragraphs: Parts 9 and 10 of the Principal Regulations are revoked.
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paragraphs: Regulation 119 of the Principal Regulations is amended –
(a) in paragraph (3), by the substitution of the following subparagraph for subparagraph (c):
“(c) in the case of an investment firm, a market operator authorised to operate an MTF or OTF, or a regulated market, withdrawal or suspension of its authorisation under these Regulations, and, where an APA or ARM is the subject of a derogation provided in accordance with Article 2(3) of Regulation (EU) No 600/20143 , withdrawal or suspension of the authorisation in accordance with Article 27e of that Regulation,”,
(b) in paragraph (5) –
(i) in subparagraph (a), by the deletion of clauses (xxxvi) to (xxxix), and
(ii) in subparagraph (b), by the insertion of the following clause after clause (xx):
“(xxa) Article 27f(1), (2) and (3), Article 27g(1) to (5) and Article 27i(1) to (4), where an APA or ARM is the subject of a derogation provided in accordance with Article 2(3);”, and
(c) in paragraph (6) –
(i) by the substitution of the following subparagraphs for subparagraphs (a) and (b):
“(a) Regulation 5, 6, 7, 12(2), 42, 43, 44(1) to (4), 48, 53, 54, 60, 61 or 62;
(b) the third sentence of Article 7(1) of Regulation (EU) No 600/20143 or Article 11(1) of that Regulation, and, where an APA or ARM is the subject of a derogation provided in accordance with Article 2(3) of that Regulation, Article 27b of that Regulation.”.
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paragraphs: Regulation 130 of the Principal Regulations is amended, in paragraph (1), by the deletion of all the words beginning with “The auditor of an investment firm” down to and including “liable to” and the substitution of the following: