(This note is not part of the Regulations)
These Regulations amend regulations 27, 28 and 29 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701) (“MIFI Regs”). Regulations 27 and 28 of the MIFI Regs are amended by paragraphs 47 and 48 of Schedule 2 to the Financial Services and Markets Act 2023 (c. 29) and these Regulations will come into force immediately after both of these paragraphs come into force.
These Regulations widen the scope of commodity derivative contracts about which the Financial Conduct Authority can require information and regarding which they may use their powers of intervention.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. A de minimis impact assessment is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ and is published with the Explanatory Memorandum alongside this instrument at www.legislation.gov.uk.