PART 3FCA powers in relation to persons publishing or contributing to benchmarks

Variation of permission: continued publication of a benchmark by authorised person27

1

This regulation applies where—

a

the FCA imposes a requirement on an authorised person under Article 21(3) of the EU Benchmarks Regulation 2016 to continue publishing a benchmark; and

b

the authorised person does not have a permission to carry on an activity of the kind specified in article 63O(1)(b)42 or 63S of the RAO to administer the benchmark.

2

The requirement takes effect when the FCA notifies the authorised person in writing.

3

The authorised person’s Part 4A43 permission is treated as having been varied by the FCA to include the activity in article 63S of the RAO44 with effect from the day on which the FCA exercises its powers under Article 21(3) of the EU Benchmarks Regulation 2016.