The Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023

• Citation: S.I. 2023/548
• Sections: 3

Section 1 Citation, commencement and extent

(1) This Order may be cited as the Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023.

(2) This Order comes into force on 1st January 2025.

(3) This Order extends to England and Wales, Scotland and Northern Ireland.

Section 2 Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

(1) The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 is amended as follows.

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) In paragraph 2(c) of Part 1 of Schedule 3 (exemptions from the definition of “investment firm”), for the words from the beginning to “the FCA” in the second place it occurs, substitute “P reports to the FCA under regulation 47 of the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017” .

Section 3 Amendment of the Financial Service and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017

(1) The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 are amended as follows.

(2) In sub-paragraph (1B)(c) of regulation 30 (algorithmic trading)—

(a) for the words from the beginning to “the FCA” in the second place it occurs, substitute “P reports to the FCA under regulation 47” ;

(b) for “this activity” substitute “P’s activity under paragraph (1A)(e)(i) and (ii)” .

(3) In regulation 47 (notifications, reports, and applications relating to the markets in financial instruments regulation)—

(a) for the heading, substitute “Reports and applications” ;

(b) omit paragraph (1)(a);

(c) in paragraph (1)(b)—

(i) omit “, for the purposes of the words after paragraph (ii) of sub-paragraph (e) of regulation 30(1A),”;

(ii) omit “described in paragraphs (i) and (ii) of that sub-paragraph”.