The Central Securities Depositories Regulations 2014

• (c) in the case of a decision mentioned in paragraph (1)(j), the CCP and the trading venue.

• (3) Part 9 of the Act (hearings and appeals) applies to references to the Tribunal under this regulation as it applies to references to the Tribunal under the Act.

PART 7 — Access to trading venues

Access to trading venues

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• (1) Paragraph (2) applies where the FCA has decided in respect of a complaint made to it under Article 53(3) of the CSD regulation that a trading venue which is not a recognised body has failed, unjustifiably, to grant the access sought by the complainant.

• (2) The FCA may direct the trading venue to take specified steps for the purpose of securing the trading venue’s compliance with the FCA’s determination of the complaint.

• (3) A direction under this regulation is enforceable, on the application of the FCA, by an injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.

• (4) Section 298 of the Act applies in relation to a direction under this regulation as it applies in relation to a direction under section 296 of the Act given to a recognised CSD.

PART 8 — Reporting of infringements

Reporting of infringements

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• (1) Settlement internalisers must have in place appropriate procedures for their employees to report actual or potential infringements of the CSD regulation and any assimilated law regulation made under that regulation internally through a specific, independent and autonomous channel.

• (2) The protections set out in points (b), (c) and (d) of Article 65(2) of that regulation (reporting of infringements) must be applied in relation to those procedures.

PART 9 — Consequential amendments

Amendments to the Financial Services and Markets Act 2000

Amendments to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001

Amendment to the Payment to Treasury of Penalties (Enforcement Costs) Order 2013

Amendments to the Financial Services and Markets Act 2000 (Qualifying EU Provisions) Order 2013

PART 10 — Review

Review

PART 8A — Fees

Fees

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• (1) The Bank may, in connection with the discharge of any of its qualifying functions, require third country CSDs to pay fees to the Bank.

• (2) The “qualifying functions” of the Bank are—

• (a) its functions under or as a result of—

• (i) the CSD regulation,

• (ii) any EU regulation, originally made under the CSD regulation, which is assimilated direct legislation, or

• (iii) any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the CSD regulation on or after IP completion day,

so far as they are its functions by virtue of regulations made under section 8 of the European Union (Withdrawal) Act 2018; and

• (b) any other functions it has by virtue of regulations made under section 8 of the European Union (Withdrawal) Act 2018 in connection with the CSD regulation.

• (3) The power of the Bank to set fees includes power to set fees for the purpose of meeting expenses incurred by it or the FCA—

• (a) in preparation for the exercise by the Bank of the qualifying functions specified in paragraph (2), or

• (b) for the purpose of facilitating the exercise by the Bank of those functions or otherwise in connection with their exercise by it.

• (4) It is irrelevant when the expenses were incurred.

• (5) Any fee which is owed to the Bank under this regulation may be recovered as a debt due to the Bank.