F1PART 9ARules and Guidance
CHAPTER 1Rule-making powers
General rule-making powers of the FCA and the PRA
137FRules requiring participation in benchmark
(1)
The power of the FCA to make general rules includes power to make rules requiring authorised persons to take specified steps in connection with the setting by a specified person of a specified benchmark.
(2)
The rules may in particular—
(a)
require authorised persons to whom the rules apply to provide information of a specified kind, or expressions of opinion as to specified matters, to persons determined in accordance with the rules;
(b)
make provision about the form in which and the time by which any information or expression of opinion is to be provided;
(c)
make provision by reference to any code or other document published by the person responsible for the setting of the benchmark or by any other person determined in accordance with the rules, as the code or other document has effect from time to time.
(3)
Rules making provision of the kind mentioned in subsection (2)(c) may provide that the code or other document is to be capable of affecting obligations imposed by the rules only if specified requirements are met in relation to it.
(4)
In this section—
“specified” means specified in or determined in accordance with the rules.