OpenLegislation

Regulation 5

United Kingdom

(1)

The FCA has the powers conferred on it by this Part of the Regulations in respect of Miscellaneous BM persons.

(2)

A “Miscellaneous BM person” is a person who is not an authorised person and is—

(a)

involved in the provision of, or contribution of input data to, a benchmark;

(b)

a service provider to whom functions or any relevant services and activities in the provision of a benchmark have been outsourced;

(c)

a person who is not the service provider but who is or has been party to a contract in relation to the outsourcing of functions or any relevant services and activities in the provision of a benchmark;

(d)

a legal representative of a benchmark administrator located in a third country which has obtained or has applied for prior recognition as referred to in Article 32(1) and as provided for in Article 32(3) of the EU Benchmarks Regulation 2016;

(e)

a person who administers a benchmark relying on F1Article 46(8) or Article 51(4) of the EU Benchmarks Regulation 2016; or

(f)

a supervised entity.

Annotations

Textual amendments

F1

Words in reg. 5(2)(e) inserted (14.10.2019) by The Financial Services and Markets Act 2000 (Benchmarks) (Amendment) Regulations 2019 (S.I. 2019/1256), regs. 1, 2(2)

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)