Exiting The European Union PART 1 General Citation and commencement 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 2 Amendment of secondary legislation: European Communities Act 1972 The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The Data Reporting Services Regulations 2017 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 3 Amendment of secondary legislation: European Union (Withdrawal) Act 2018 CHAPTER 1 The Regulated Activities Order Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 2 The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Introductory provisions 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interpretation 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Exempt and third country investment firms 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Algorithmic trading 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Direct electronic access 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Acting as a general clearing member 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Synchronisation of business clocks 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interpretation of Part 4 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Removal of persons from the management board 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Miscellaneous FCA functions 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Administration and Enforcement of Parts 3, 4 and 5 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 3 The Data Reporting Services Regulations 2017 The Data Reporting Services Regulations 2017 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Introductory provisions 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Authorisation of data reporting services 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Temporary authorisation 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating requirements 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Administration and enforcement 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Miscellaneous 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 4 Amendment of EU Regulations CHAPTER 1 Amendment of Markets in Financial Instruments Regulation Markets in Financial Instruments Regulation 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Subject matter and scope 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Definitions 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transparency for trading venues 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transparency for systematic internalisers and investment firms trading OTC 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transaction reporting 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Derivatives 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Non-discriminatory clearing access for financial instruments 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Supervisory measures on product intervention and positions 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision of services and performance of activities by third-country firms following an equivalence decision 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Delegated and implementing acts 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Final provisions 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Professional clients 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Transfer of Functions 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 2 Commission Delegated Regulation 2017/565 Commission Regulation 2017/565 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Application, scope and definitions 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Systematic internalisers 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Algorithmic trading and electronic access 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Organisation requirements 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Conflicts of interest 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investment research and marketing 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Underwriting and placing 45 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Information to clients 46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Investment Advice 47 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Best execution 48 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Eligible counterparties 49 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Record-keeping 50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . SME growth market 51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating obligations for trading venues 52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Position reporting in commodity derivatives 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Data provision obligations for data reporting service providers 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Final provisions 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Annexes 56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 3 Commission Delegated Regulation 2017/567 Commission Delegated Regulation 2017/567 57 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interpretation 58 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Determining liquid markets for equity instruments 59 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Data publication obligations for systematic internalisers 60 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Supervisory measures on product intervention and position management 61 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .