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