{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017/regulation-16",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017/regulation-16.json",
  "legislation": "uksi/2017/701",
  "legislation_title": "The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-markets-in-financial-instruments-regulations-2017",
  "path": "regulation/16",
  "kind": "regulation",
  "number": "16",
  "heading": "FCA power to establish position limits",
  "text": "(1) The FCA may, by giving directions, establish position limits in respect of commodity derivatives to which requirements imposed by rules under regulation 15A apply.\n(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.\n(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.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) Position limits established by the FCA under this regulation must be published in a manner the FCA considers appropriate.\n(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2017/701/regulation/16",
    "retrieved_at": "2026-10-28T23:10:02.096065+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."
}