Regulation 27 Variation of permission: continued publication of a benchmark by authorised person

(1)

This regulation applies where—

(a)

the FCA imposes a requirement on an authorised person under Article 21(3) of the EU Benchmarks Regulation 2016 to continue publishing a benchmark; and

(b)

the authorised person does not have a permission to carry on an activity of the kind specified in article 63O(1)(b) M1 or 63S of the RAO to administer the benchmark.

(2)

The requirement takes effect when the FCA notifies the authorised person in writing.

(3)

The authorised person's Part 4A M2 permission is treated as having been varied by the FCA to include the activity in article 63S of the RAO M3 with effect from the day on which the FCA exercises its powers under Article 21(3) of the EU Benchmarks Regulation 2016.

Annotations

Marginal citations

M1: S.I. 2001/544. Article 63O was inserted by article 5 of S.I. 2013/655. There are other amending instruments but none is relevant.
M2: Part 4A was inserted by section 11 of the Financial Services Act 2012 and amended by S.I. 2011/1613, S.I 2013/1773, S.I. 2013/3115, OJ No. L173, 12.06.2014, p.84, S.I. 2015/486, S.I. 2015/575, S.I. 2015/910, S.I. 2015/1882, S.I. 2016/225, S.I. 2016/680, S.I. 2016/1239 and S.I. 2017/1064.
M3: S.I. 2001/544.

Notes on the whole SI

Textual amendments

F1: Regulations revoked (14.12.2023 for the revocation of reg. 68) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xxi)