SCHEDULE 2Amendments of subordinate legislation

The Credit Rating Agencies Regulations 2010188

The Credit Rating Agencies Regulations 2010272 are amended as follows—

a

in regulation 2(1) (interpretation)—

i

omit the definition of “the Authority”;

ii

after the definition of “ESMA” insert—

  • “the FCA” means the Financial Conduct Authority.

b

before regulation 3 (designation of competent authority), in the heading for Part 2, for “The Authority” substitute “The Financial Conduct Authority”;

c

in regulation 3 (designation of competent authority), for “The Authority” substitute “The FCA”;

d

in regulation 5 (disclosure of confidential information)—

i

for “Authority etc” substitute “FCA, PRAetc”,

ii

for “Authority” substitute “FCA”;

e

in regulation 6 (guidance), for “Authority” in each place it appears, substitute “FCA”;

f

in regulation 7 (miscellaneous)—

i

for “Authority” in each place it appears, substitute “FCA”;

ii

for “Part 1 (general) and paragraphs 13 (status) and 19 (exemption from liability in damages) of Schedule 1” substitute “Part 1 (general) and paragraphs 16 (status) and 33 (exemption from liability in damages) of Schedule 1ZA”;

g

in regulation 32 (records of telephone and data traffic: Article 23c(1)(e) of the EC Regulation)—

i

in paragraph (2) for “Authority” substitute “FCA”;

ii

in paragraph (3) for “Authority” substitute “FCA”;

h

in regulation 33 (inspections: Article 23d of the EC Regulation), in each place it appears, for “Authority” substitute “FCA”.