Regulation 30 Endorsement of benchmarks provided in a third country

(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”.