26.—(1) Article 29 (use of a benchmark) is amended as follows.
(2) In paragraph 1—
(a)for “Union”, where it first occurs, substitute “ United Kingdom ”;
(b)for the words from “benchmark is provided by” to the end substitute—
“benchmark:
(a)is on the FCA register; or
(b)is provided by an administrator who is on the FCA register and located in the United Kingdom.”.
(3) In paragraph 2—
(i)for “under Directive 2003/71/EC or Directive 2009/65/EC” substitute “ in accordance with rules made by the FCA under section 84 or 248 of FSMA, as those rules have effect on [F1IP completion day] ”M1;
(ii)for “register referred to in Article 36 of this Regulation” substitute “ FCA register ”.
Textual Amendments
F1Words in reg. 26(3)(i) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 34(f)
Commencement Information
I1Reg. 26 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1Section 84 was substituted by S.I. 2005/1433 and amended by section 16(3)(a) of the Financial Services Act 2012 (c.21) and S.I. 2012/1538. Section 248 was amended by paragraph 9(2)(b) of Part 1 of Schedule 18 to that Act.