FCA 2019/57 - Financial Conduct Authority Technical Standards (Bank Recovery and Resolution Directive) (EU Exit) Instrument 2019 (updated 31 January 2020)
Powers exercised
A. The Financial Conduct Authority (“the FCA”), being the appropriate regulator within the meaning of the Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018 (“the Regulations”), having carried out the consultations required by regulation 5 of the Regulations and with the approval of the Treasury, makes this instrument in exercise of the powers conferred by regulation 3 of the Regulations.
Pre-conditions to making
B. In the Technical Standards (Bank Resolution and Recovery Directive) (EU Exit) (No. 2) Instrument 2019, the Prudential Regulation Authority (“the PRA”) exercises the power in regulation 3 of the Regulations to modify the Bank Recovery and Resolution EU Regulations using the mechanism provided for in regulation 4 of the Regulations.
C. The FCA is accordingly the appropriate regulator for Part 1 (FCA) of each of the Bank Recovery and Resolution EU Regulations modified in the Technical Standards (Bank Resolution and Recovery Directive (EU Exit) (No. 2) Instrument 2019.
D. The FCA has consulted the PRA and the Bank of England on the modifications referred to in paragraph G of this instrument in accordance with regulation 5 of the Regulations.