# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 63Y: Intra-group ratings


A person (“P”) does not carry on an activity of the kind specified by article 63U by providing an ESG rating where P is a member of the same group as the person to whom the ESG rating is provided (“Q”), and—
(a) P does not reasonably expect the ESG rating to be made available to another person outside that group, or
(b) P reasonably expects that Q will only make the ESG rating available outside of that group as part of carrying on an activity mentioned in sub-paragraphs (a) to (d) of article 63V(1).

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/63Y (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-63Y
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.