Statutory Instruments
2023 No. 548
Financial Services And Markets
The Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023
Made
17th May 2023
Coming into force
1st January 2025
The Treasury make the following Order in exercise of the powers conferred by section 22(1) and (5) of, and paragraph 25 of Schedule 2 to, the Financial Services and Markets Act 2000( 1 ).
A draft of this Order was laid before Parliament and approved by a resolution of each House of Parliament in accordance with paragraph 13(1) of Schedule 8 to the European Union (Withdrawal) Act 2018( 2 ).
Citation, commencement and extent I1
1. —(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.
Amendment of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001I2
2. —(1)The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001( 3 ) is amended as follows.
F1 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1 (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” .
Amendment of the Financial Service and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017I3
3. —(1)The Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017( 4 ) 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”.
Stuart Anderson
Steve Double
Two of the Lords Commissioners of His Majesty’s Treasury
17th May 2023
2000 c. 8 . Paragraph 25 of Schedule 2 was amended by section 8 of the Financial Services Act 2012 (c. 21) and section 27 of the Financial Guidance and Claims Act 2018 (c. 10) .
2018 c. 16 . Paragraph 13(1) was amended by the European Union (Withdrawal Agreement) Act 2020 (c. 1) , Schedule 5, paragraph 54.
S.I. 2001/544 . Amended by S.I. 2017/1255 , 2018/1403 , 2019/632 . There are other amendments which are not relevant.
S.I. 2017/701 . Amended by S.I. 2018/1403 . There are other amendments which are not relevant.