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).