(This note is not part of the Regulations)
Regulations 2 and 3 make amendments to primary legislation that are consequential on the revocation by section 1(1) of, and Schedule 1 to, the Financial Services and Markets Act 2023 (c. 29) (“FSMA 2023") of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 ("the Capital Requirements Regulation"). The amendments in regulations 2 and 3 are made under section 83 of FSMA 2023.
Regulation 2 amends the definition of “CRR Rules" in section 144A of the Financial Services and Markets Act 2000 (c. 8). Regulation 3 amends section 5 of the Financial Services Act 2021 (c. 22), which makes provision relating to CRR rules replacing provisions of the Capital Requirements Regulation.
Regulation 4 amends the definition of “recognised exchange" in Article 4 of the Capital Requirements Regulation. This am
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