OpenLegislation

Regulation 16 FCA power to establish position limitsF7

United Kingdom

(1)

The FCA F1may, by giving directions, establish position limits in respect of commodity derivatives F2to which requirements imposed by rules under regulation 15A apply.

F3(1A)

The power to give a direction under paragraph (1) is exercisable only if the FCA considers that it is necessary to give the direction for the purpose of advancing one or more of its operational objectives referred to in section 1B(3) of the Act.

(1B)

Position limits established by virtue of regulation 15A do not apply to the extent that position limits established by virtue of this regulation apply instead.

F4(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

Position limits established by the FCA under this regulation must be published in a manner the FCA considers appropriate.

F6(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

Word in reg. 16(1) substituted (6.7.2026) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(3)(a) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

F2

Words in reg. 16(1) substituted (6.7.2026) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(3)(b) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

F3

Reg. 16(1A)(1B) inserted (6.7.2026) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(4) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

F4

Reg. 16(2) omitted (6.7.2026) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(5) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

F5

Reg. 16(3) omitted (6.7.2026) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(5) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

F6

Reg. 16(5) omitted (6.7.2026) by virtue of Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(5) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

F7

Word in reg. 16 heading substituted (6.7.2026) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 2 para. 46(2) (with s. 2(3)); S.I. 2024/1071, reg. 9(b)(iii)

Notes on the whole SI

Textual amendments

F1

Regulations revoked (14.12.2023 for the revocation of reg. 51) 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)(xviii)