These Regulations are made in exercise of the powers in section 8 of the European Union (Withdrawal) Act 2018 (c.16) in order to address failures of retained EU law to operate effectively and other deficiencies arising from the withdrawal of the United Kingdom from the European Union (and in particular, the deficiencies under paragraphs (b), (c) and (g) of section 8(2)). Part 3 of the Regulations amends Parts 18 and 18A of, and Schedule 17A to, the Financial Services and Markets Act 2000 (c. 8) (“the Act”). Part 4 amends the Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges, Clearing Houses and Central Securities Depositaries) Regulations 2001 (“the principal Regulations”), and Part 5 makes amendments consequential on amendments to Part 18 of the Act.