1Each of the following must complete the forms in (2):
an applicant for a data reporting service authorisation;
The forms in (1) are:
4When the data reporting services provider wishes to vary or cancel all of its data reporting service authorisation, it should engage with the FCA as early as possible. As part of its supervisory approach set out in MAR 9.4.1G, the FCA expects to continue to have an open, cooperative and constructive relationship with the data reporting services provider for the whole duration of the cancellation process.
4As set out in the form at MAR 9 Annex 4D, the data reporting services provider must provide in its request for cancellation a plan which sets out how it will cease all of its data reporting services in an orderly manner (wind-down plan). The wind-down plan should promote and protect the integrity of the financial markets and the interests of the data reporting services provider’s clients. The FCA expects at the minimum the wind-down plan to:
4identify clients who will be affected by the cancellation of the data reporting services provider’s authorisation and set out the arrangements to support the transfer of such clients to a new data reporting services provider; and
4demonstrate that the timings in the wind-down plan are reasonable.
4Where a data reporting services provider wishes to cancel all of its data reporting service authorisation, it must continue to comply with the requirements in the DRS Regulations up until its authorisation is cancelled, in particular in relation to publishing trade reports or submitting details of transactions to the FCA. The FCA expects the data reporting services provider to provide a written confirmation at the end of the cancellation process confirming compliance with the DRS Regulations.