(1) The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 [S.I. 2017/701. Amended by S.I. 2018/1403. There are other amendments which are not relevant.] are amended as follows.
(2) In sub-paragraph (1B)(c) of regulation 30 (algorithmic trading) -
(a) for the words from the beginning to “the FCA” in the second place it occurs, substitute “P reports to the FCA under regulation 47”;
(b) for “this activity” substitute “P’s activity under paragraph (1A)(e)(i) and (ii)”.
(3) In regulation 47 (notifications, reports, and applications relating to the markets in financial instruments regulation) -
(a) for the heading, substitute “Reports and applications”;
(b) omit paragraph (1)(a);
(c) in paragraph (1)(b) -
(i) omit “, for the purposes of the words after paragraph (ii) of sub-paragraph (e) of regulation 30(1A),”;
(ii) omit “described in paragraphs (i) and (ii) of that sub-paragraph”.