Inserted by S.I. 2009/1389.

http://www.legislation.gov.uk/uksi/2013/655/part/3/madeThe Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2013enKing's Printer of Acts of Parliament2014-11-14FINANCIAL SERVICES AND MARKETSThis Order amends the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (“the Principal Order”) so as to specify new regulated activities. The Principal Order specifies kinds of activities and investments for the purposes of the Financial Services and Markets Act 2000 (c.8) (“the Act”). The regulated activities which may be specified include activities relating to the setting of benchmarks (paragraphs 24E to 24H of Schedule 2 to the Act, inserted by section 7 of the Financial Services Act 2012 (c.21)). This Order specifies the activities of providing information in relation to and administering a specified benchmark.PART 3AMENDMENTS OF THE PRINCIPAL ORDER
4Amendment of the Principal Order

The Principal Order is amended as follows.

5Specified benchmarks

After article 63N insert—

CHAPTER 15ESPECIFIED BENCHMARKSThe activities

63OSpecified benchmarks1

The following are specified kinds of activity—

a

providing information in relation to a specified benchmark;

b

administering a specified benchmark.

2

In this Chapter—

a

“providing information” in relation to a specified benchmark means providing any information or expression of opinion that is—

i

provided to, or for the purpose of passing to, a person who has permission to carry on the activity specified in paragraph (1)(b) in relation to that specified benchmark;

ii

required in connection with the determination of the specified benchmark; and

iii

provided for the purpose of determining the specified benchmark;

b

“administering” a specified benchmark means—

i

administering the arrangements for determining a specified benchmark;

ii

collecting, analysing or processing information or expressions of opinion provided for the purpose of determining a specified benchmark;

iii

determining a specified benchmark through the application of a formula or other method of calculation to the information or expressions of opinion provided for that purpose.

63PPublicly available factual data and subscription services

A person does not carry on an activity of the kind specified by article 63O(1)(a) in relation to a specified benchmark where the information provided—

a

consists solely of factual data obtained from a publicly available source; or

b

is—

i

compiled by a subscription service for purposes other than in connection with the determination of a specified benchmark;

ii

provided to a person who has permission to carry on an activity of the kind specified by article 63O(1)(b) and who is a subscriber to the service; and

iii

provided to such a person only in that person’s capacity as a subscriber.

63QAdministration of a specified benchmark by the FCA1

The FCA does not carry on the activity of the kind specified by article 63O(1)(b) in relation to a specified benchmark where the FCA administers the specified benchmark itself.

2

Where a specified benchmark is administered by the FCA, the reference in article 63O(2)(a)(i) to a person who has permission to carry on the activity specified in 63O(1)(b) in relation to that specified benchmark is to be read as referring to the FCA.

63RSchedule

Schedule 5 specifies benchmarks for the purposes of section 22(1A)(b) of the Act.

.

6Schedule

After Schedule 4, insert—

SCHEDULE 5

Article 63R

SPECIFIED BENCHMARKS

The following benchmarks are specified:

1

The benchmarks that are known as the London Interbank Offered Rate, also known as LIBOR.

.

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Amendment of the
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The
<abbr title="Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544)" xml:lang="">Principal Order</abbr>
is amended as follows.
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After article 63N
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insert—
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<heading>The activities</heading>
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<num>63O</num>
<heading>Specified benchmarks</heading>
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<num>1</num>
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<p>The following are specified kinds of activity—</p>
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<num>a</num>
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<p>providing information in relation to a specified benchmark;</p>
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<p>provided to, or for the purpose of passing to, a person who has permission to carry on the activity specified in paragraph (1)(b) in relation to that specified benchmark;</p>
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<p>required in connection with the determination of the specified benchmark; and</p>
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<p>provided for the purpose of determining the specified benchmark;</p>
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Administration of a specified benchmark by the
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<num>1</num>
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The
<abbr title="Financial Conduct Authority" xml:lang="">FCA</abbr>
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<abbr title="Financial Conduct Authority" xml:lang="">FCA</abbr>
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Where a specified benchmark is administered by the
<abbr title="Financial Conduct Authority" xml:lang="">FCA</abbr>
, the reference in article 63O(2)(a)(i) to a person who has permission to carry on the activity specified in 63O(1)(b) in relation to that specified benchmark is to be read as referring to the
<abbr title="Financial Conduct Authority" xml:lang="">FCA</abbr>
.
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Schedule 5 specifies benchmarks for the purposes of section 22(1A)(b) of
<abbr title="Financial Services and Markets Act 2000 c. 8" xml:lang="">the Act</abbr>
.
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<p>After Schedule 4, insert—</p>
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SCHEDULE 5
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<heading>SPECIFIED BENCHMARKS</heading>
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<p>The following benchmarks are specified:</p>
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The benchmarks that are known as the London Interbank Offered Rate, also known as
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