The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 No. 135

PART 5 Amendments to the Act

Amendments to section 22 (regulated activities)

38.  Section 22(1) of the Act (regulated activities) is amended as follows—

(a) at the end of subsection (1A)(a) omit “or”;

(b) at the end of subsection (1A)(b) insert“, or”;

(c) after subsection (1A)(b) insert—

“(c) administering a benchmark.”;

(d) in subsection (6), for “Benchmark” substitute—

“For the purposes of subsection (1A)(b), “benchmark”;

(e) after subsection (6) insert—

“(6A) For the purposes of subsection (1A)(c), “benchmark” has the meaning given by Article 3 of the EU Benchmarks Regulation 2016, and “administering” a benchmark means acting as an administrator of that benchmark within the meaning of that Article.”.

(1)

Section 22 was amended by section 7(1) of the Financial Services Act 2012.