Section 46(8)

The FCA, when carrying out its supervisory functions in relation to an auction platform— must effectively monitor the auction platform's compliance with— the customer due diligence requirements of regulation 17 of the UK auctioning regulations; the monitoring and record-keeping requirements of regulation 37 of those Regulations; and the notification requirements of regulation 38(4) and (5) of those Regulations; and may monitor the auction platform's compliance with regulations 18 to 21 and 24 of these Regulations.

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Source: legislation.gov.uk · retrieved 2026-09-04