Provisions of the Financial Services Act 2021 coming into force on 1st July 20213
The following provisions of the Financial Services Act 2021 come into force on 1st July 2021—
a
section 8 (review of which benchmarks are critical benchmarks);
b
section 9 (mandatory administration of a critical benchmark);
c
section 10 (prohibition on new use where administrator to cease providing critical benchmark);
d
section 11 (assessment of representativeness of critical benchmarks);
e
section 12 (mandatory contribution to critical benchmarks);
f
section 13 (designation of certain critical benchmarks);
g
section 14 (use of Article 23A benchmarks);
h
section 15 (orderly cessation of Article 23A benchmarks);
i
section 16 (review of exercise of powers under Article 23D);
j
section 17 (policy statements relating to critical benchmarks);
k
section 18 (critical benchmarks provided for different currencies etc);
l
section 19 (changes to and cessation of a benchmark);
m
section 20 (extension of transitional period for benchmarks with non-UK administrators);
n
section 21 and Schedule 5 (benchmarks: minor and consequential amendments);
o
section 27 and Schedule 10 (provision of investment services etc in the UK);
p
section 28 and Schedule 11 (Part 4A permissions: variation or cancellation on initiative of FCA);
q
section 29 (FCA rules about level of care provided to consumers by authorised persons);
r
section 34 (application of money laundering regulations to overseas trustees);
s
section 37 (regulated activities and application of Consumer Credit Act 1974);
t
section 38 (amendments of the PRIIPs Regulation etc);
u
section 39 (retention of personal data under the Market Abuse Regulation);
v
section 40 (over the counter derivatives: clearing and procedures for reporting);
w
section 43 (subordinate legislation made under retained direct EU legislation).