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The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) (No. 2) Regulations 2021

13 October 2021
  • The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021
Comes into force: 25th August 2021
Jurisdiction: UK
They create multiple amendments to the legal framework for the auctioning of emissions allowances under the UK Emissions Trading Scheme (UK ETS). These include the correction of technical errors.  The appointed auction platform is permitted to change the date or time of the opening and closing of the bidding window instead of cancelling the auction.
Calculations for the annual volume of allowances to be auctioned in a calendar are updated. Some responsibilities of the Financial Conduct Authority (‘the FCA’) are transferred to the auctioneer or the Treasury or both.
Auction platforms must provide regular information about auctions to the auctioneer and Treasury as a remedial measure for market abuse. Changes to confidentiality are made.
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