Commission Delegated Regulation (EU) 2018/64 of 29 September 2017 supplementing Regulation (EU) 2016/1011 of the European Parliament and of the Council with regard to specifying how the criteria of Article 20(1)(c)(iii) are to be applied for assessing whether certain events would result in significant and adverse impacts on market integrity, financial stability, consumers, the real economy or the financing of households and businesses in one or more Member States (Text with EEA relevance)

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Commission Delegated Regulation (EU) 2018/64, Article 4 is up to date with all changes known to be in force on or before 03 February 2026. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

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Regulation revoked by 2023 c. 29 Sch. 1 Pt. 1 3

Article 4U.K.Significant and adverse impact on consumers

[F1The FCA] shall assess whether there is a significant and adverse impact on consumers in accordance with the following criteria:

(a)

with reference to financial instruments and investment funds offered to consumers:

(i)

the value of the financial instruments and investment funds referencing the benchmark, either directly or indirectly within a combination of benchmarks, sold to retail consumers in the [F2United Kingdom], both in absolute terms and relative to the total value of financial instruments and investment funds sold to retail investors in [F3the United Kingdom];

(ii)

an estimate of the number of consumers who have bought financial instruments and investment funds referencing the benchmark, either directly or indirectly within a combination of benchmarks, in the [F4United Kingdom], both in absolute terms and relative to the total population in [F5the United Kingdom];

(b)

with reference to institutions for occupational retirement provision:

(i)

the value of the pension schemes referencing the benchmark which are operated by institutions for occupational retirement provision in the [F6United Kingdom], both in absolute terms and relative to the total value of the pension schemes operated by institutions for occupational retirement provision in [F7the United Kingdom];

(ii)

an estimate of the number of consumers participating in institutions for occupational retirement provision operating pension schemes referencing the benchmark in the [F8United Kingdom], both in absolute terms and relative to the total population in [F9the United Kingdom];

(iii)

an assessment of the importance of the institutions for occupational retirement provision operating pension schemes referencing the benchmark for the retirement income of citizens of the [F10United Kingdom];

(c)

with reference to credit agreements for consumers:

(i)

the value of credit agreements for consumers referencing the benchmark in the [F11United Kingdom.], both in absolute terms and relative to the total value of the credit agreements for consumers in [F12the United Kingdom];

(ii)

an estimate of the number of consumers that have subscribed credit agreements for consumers referencing the benchmark in the [F13United Kingdom.], both in absolute terms and relative to the total population in [F14the United Kingdom];

(iii)

the degree of indebtedness of consumers in the [F15United Kingdom.].

Textual Amendments

F1Words in Art. 4 substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F2Words in Art. 4(a)(i) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F3Words in Art. 4(a)(i) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F4Words in Art. 4(a)(ii) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F5Words in Art. 4(a)(ii) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F6Words in Art. 4(b)(i) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(c)(i)(aa) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F7Words in Art. 4(b)(i) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(c)(i)(bb) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F8Words in Art. 4(b)(ii) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(c)(i)(aa) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F9Words in Art. 4(b)(ii) substituted (31.12.2020) by The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 (S.I. 2019/657), regs. 1(2), 47(5)(c)(i)(bb) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)