Regulation 30 Endorsement of benchmarks provided in a third countryI1

United Kingdom

(1)

Article 33 (endorsement of benchmarks provided in a third country) is amended as follows.

(2)

In paragraph 1—

(a)

in the first subparagraph—

(i)

in the opening words—

(aa)

for “Union”, each time it occurs, substitute “ United Kingdom ”;

(bb)

for “relevant competent authority” substitute “ FCA ”;

(ii)

in point (a), for “its competent authority” substitute “ the FCA ”;

(iii)

in point (c), for “Union” substitute “ United Kingdom ”;

(b)

in the second subparagraph, for “competent authority” substitute “ FCA ”.

(3)

In paragraph 2, for “competent authority” substitute “ FCA ”.

(4)

In paragraph 3—

(a)

for “relevant competent authority” substitute “ FCA ”;

(b)

omit the second sentence.

(5)

In paragraph 6—

(a)

for “competent authority of the endorsing administrator or other supervised entity” substitute “ FCA ”;

(b)

omit “and shall inform ESMA thereof”.

(6)

In paragraph 7—

(a)

for the words from “Commission”, where first occurring, to “measures” substitute “ Treasury may make regulations ”;

(b)

for “relevant competent authorities” substitute “ FCA ”;

(c)

for “Union” substitute “ United Kingdom ”;

(d)

for “The Commission”, where second occurring, substitute “ When determining the conditions, the Treasury ”.

Annotations

I1: Reg. 30 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)