New regulatory powers Financial market infrastructure: general rules and requirements FMI and regulator rule-making
In order to establish a comprehensive FSMA model, the regulators need the appropriate powers to make rules when retained EU law is revoked. That includes the ability to make rules for FMI and the appropriate powers to supervise and oversee them.
	The Act therefore introduces a general rule-making power for the Bank of England (the Bank) in relation to two types of FMI, CCPs and central securities depositories (CSDs), so that it can take on primary responsibility for setting regulatory requirements for these entities.
	The Act also gives the FCA general rule-making powers over another two types of FMI, Data Reporting Services Providers (DRSPs) and Recognised Investment Exchanges (RIEs).