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Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 [SI 2020 No. 1385]Introductory TextPart 1 General provision (reg. 1)Regulation 1 Citation and commencementPart 2 Transitional and saving provisions concerning the SFT Regulation (reg. 2-29)Chapter 1 Advance applications (reg. 2-5)Regulation 2 Advance application for registration as a trade repositoryRegulation 3 Assessment of whether an advance application is completeRegulation 4 Determination of an advance applicationRegulation 5 Effect of determining an advance applicationChapter 2 Temporary registration (reg. 6-10)Regulation 6 Temporary deemed registration under the SFT RegulationRegulation 7 Application of regulation 6Regulation 8 Conditions to be satisfied for regulation 6 to applyRegulation 9 Period during which regulation 6 is to applyRegulation 10 Cessation following a determination by the FCAChapter 3 Temporary registration for run-off period (reg. 11-18)Regulation 11 Temporary deemed registration under the SFT Regulation for run-off periodRegulation 12 Application of regulation 11Regulation 13 Condition to be satisfied for regulation 11 to applyRegulation 14 Period during which regulation 11 is to applyRegulation 15 Transitional arrangements during the run-off periodRegulation 16 Notification of a decision to impose requirements under regulation 15Regulation 17 Right to refer to the TribunalRegulation 18 Application of Part 9 of the Financial Services and Markets Act 2000Chapter 4 Registration conversion (reg. 19-24)Regulation 19 Registration under the SFT RegulationRegulation 20 Application to regulation 19Regulation 21 Conditions to be satisfied for regulation 19 to applyRegulation 22 Notification for registrationRegulation 23 Acknowledgement of receiptRegulation 24 FCA responseChapter 5 General provisions (reg. 25-29)Regulation 25 Misleading the FCA: criminal offenceRegulation 26 Further information to be supplied by a person to whom regulation 9 or 13 appliesRegulation 27 DirectionsRegulation 28 EnforcementRegulation 29 InterpretationPart 3 Transitional and saving provisions concerning the Securitisation Regulation (reg. 30-36)Chapter 1 Advance applications (reg. 30-33)Regulation 30 Advance application for registration as a securitisation repositoryRegulation 31 Assessment of whether an advance application is completeRegulation 32 Determination of an advance applicationRegulation 33 Effect of determining an advance applicationChapter 2 General provisions (reg. 34-36)Regulation 34 Misleading the FCA: criminal offenceRegulation 35 DirectionsRegulation 36 InterpretationPart 4 Amendment of primary legislation (reg. 37-39)Regulation 37 Insolvency Act 1986Regulation 38 Financial Services and Markets Act 2000Regulation 39 Banking Act 2009Part 5 Amendment of secondary legislation (reg. 40-71)Regulation 40 The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001Regulation 41 The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001Regulation 42 The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018Regulation 43 The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018Regulation 44 The Central Counterparties (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2018Regulation 45 The Credit Transfers and Direct Debits in Euro (Amendment) (EU Exit) Regulations 2018Regulation 46 The Deposit Guarantee Scheme and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018Regulation 47 The Trade Repositories (Amendment and Transitional Provision) (EU Exit) Regulations 2018Regulation 48 The Capital Requirements (Amendment) (EU Exit) Regulations 2018Regulation 49 The Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018Regulation 50 The Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019Regulation 51 The Market Abuse (Amendment) (EU Exit) Regulations 2019Regulation 52 The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2019Regulation 53 The Packaged Retail and Insurance-based Investment Products (Amendment) (EU Exit) Regulations 2019Regulation 54 The Solvency 2 and Insurance (Amendment, etc.) (EU Exit) Regulations 2019Regulation 55 The Equivalence Determinations for Financial Services and Miscellaneous Provisions (Amendment etc) (EU Exit) Regulations 2019Regulation 56 The Transparency of Securities Financing Transactions and of Reuse (Amendment) (EU Exit) Regulations 2019Regulation 57 The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019Regulation 58 The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019Regulation 59 The Securitisation (Amendment) (EU Exit) Regulations 2019Regulation 60 The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019Regulation 61 The Public Record, Disclosure of Information and Co-operation (Financial Services) (Amendment) (EU Exit) Regulations 2019Regulation 62 The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019Regulation 63 The Official Listing of Securities, Prospectus and Transparency (Amendment etc.) (EU Exit) Regulations 2019Regulation 64 The Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019Regulation 65 The Capital Requirements (Amendment) (EU Exit) Regulations 2019Regulation 66 The Prospectus (Amendment etc.) (EU Exit) Regulations 2019Regulation 67 The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) (No. 2) Regulations 2019Regulation 68 The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2020Regulation 69 The Over the Counter Derivatives, Central Counterparties and Trade Repositories (Amendment, etc., and Transitional Provision) (EU Exit) Regulations 2020Regulation 70 The Equivalence Determinations for Financial Services (Amendment etc.) (EU Exit) Regulations 2020Regulation 71 Amendments to cross references to retained EU RegulationsPart 6 Amendment or revocation of retained direct EU legislation (reg. 72-78)Regulation 72 Regulation (EC) No 924/2009Regulation 73 Regulation (EU) No 231/2013Regulation 74 Regulation (EU) No 575/2013Regulation 75 Regulation (EU) 2015/2365Regulation 76 Regulation (EU) 2019/877Regulation 77 Regulation (EU) 2019/2088Regulation 78 Regulation (EU) 2020/852Schedule Cross references to EU regulations forming part of retained EU lawSignatureExplanatory NoteExplanatory Memorandum
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 November 2020 - onwards
Version 2 of 2

Regulation 31 Assessment of whether an advance application is complete

The FCA must, before the end of a period of 20 working days beginning with the day of receipt of an advance application (“the application”) -

(a) if it considers that the application complies with any applicable direction under regulation 30(2)(a) or (b), confirm in writing that the application is complete; or

(b) if it considers that the application does not comply with one or more of the directions under that regulation -

(i) confirm in writing to the applicant that the application is not complete; and

(ii) where applicable, inform the applicant of the steps which need to be taken, and the time within which they need to be taken, for the application to be considered complete.

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