{
  "url": "https://openlegislation.uk/financial-services-act-2021-commencement-no-2-regulations-2021/regulation-3",
  "json_url": "https://openlegislation.uk/financial-services-act-2021-commencement-no-2-regulations-2021/regulation-3.json",
  "legislation": "uksi/2021/739",
  "legislation_title": "The Financial Services Act 2021 (Commencement No. 2) Regulations 2021",
  "legislation_url": "https://openlegislation.uk/financial-services-act-2021-commencement-no-2-regulations-2021",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Provisions of the Financial Services Act 2021 coming into force on 1st July 2021",
  "text": "The following provisions of the Financial Services Act 2021 come into force on 1st July 2021—\n(a) section 8 (review of which benchmarks are critical benchmarks);\n(b) section 9 (mandatory administration of a critical benchmark);\n(c) section 10 (prohibition on new use where administrator to cease providing critical benchmark);\n(d) section 11 (assessment of representativeness of critical benchmarks);\n(e) section 12 (mandatory contribution to critical benchmarks);\n(f) section 13 (designation of certain critical benchmarks);\n(g) section 14 (use of Article 23A benchmarks);\n(h) section 15 (orderly cessation of Article 23A benchmarks);\n(i) section 16 (review of exercise of powers under Article 23D);\n(j) section 17 (policy statements relating to critical benchmarks);\n(k) section 18 (critical benchmarks provided for different currencies etc);\n(l) section 19 (changes to and cessation of a benchmark);\n(m) section 20 (extension of transitional period for benchmarks with non-UK administrators);\n(n) section 21 and Schedule 5 (benchmarks: minor and consequential amendments);\n(o) section 27 and Schedule 10 (provision of investment services etc in the UK);\n(p) section 28 and Schedule 11 (Part 4A permissions: variation or cancellation on initiative of FCA);\n(q) section 29 (FCA rules about level of care provided to consumers by authorised persons);\n(r) section 34 (application of money laundering regulations to overseas trustees);\n(s) section 37 (regulated activities and application of Consumer Credit Act 1974);\n(t) section 38 (amendments of the PRIIPs Regulation etc);\n(u) section 39 (retention of personal data under the Market Abuse Regulation);\n(v) section 40 (over the counter derivatives: clearing and procedures for reporting);\n(w) section 43 (subordinate legislation made under retained direct EU legislation).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2021/739/regulation/3",
    "retrieved_at": "2026-10-28T22:12:00.677253+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}