Legislation – Financial Services and Markets Act 2023

“SCHEDULE 6BDesignated activities

Introductory

1

The matters with respect to which provision may be made under section 71K in respect of activities include (but are not limited to) those described in general terms in this Schedule.

Derivatives

2

Activities related to entering into derivative contracts (including those contracts not cleared by a central counterparty).

3

Holding positions in commodity derivatives.

Short selling

4

Engaging in short selling in relation to specified financial instruments (“shorted instruments”) including where—

(a)

a person enters into a transaction which creates, or relates to, another financial instrument, and

(b)

the effect (or one of the effects) of the transaction is to confer a financial advantage on that person in the event of a decrease in the price or value of the shorted instrument.

Securitisation

5

Acting as one of the following in a securitisation—

(a)

an originator,

(b)

a sponsor,

(c)

an original lender, or

(d)

a securitisation special purpose entity.

6

Selling a securitisation position to a retail client located in the United Kingdom.

Financial markets

7

Offering securities to the public.

8

Applying for, securing or maintaining the admission of securities to trading on a securities market.

Using a benchmark

9

Issuing an instrument which references a benchmark.

10

Determining the amount payable under an instrument or financial contract by reference to a benchmark or otherwise being a party to a financial contract which references a benchmark.

11

Measuring the performance of an investment fund through a benchmark.

Contributing to a benchmark

12

Acting as a “benchmark contributor” including persons in the United Kingdom or a third country.

13

Contributing data to a regulated benchmark administrator for the purpose of the administrator determining a benchmark.”