Article 4Significant 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:

  1. (a)

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

    1. (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;

    2. (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;

  2. (b)

    with reference to institutions for occupational retirement provision:

    1. (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;

    2. (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;

    3. (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;

  3. (c)

    with reference to credit agreements for consumers:

    1. (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;

    2. (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;

    3. (iii)

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