Financial Markets Conduct Act 2013

451 Meaning of FMC reporting entity

(1)

In this Act, FMC reporting entity means—

(a)

every person who is an issuer of a regulated product (but see section 452):

(b)

every person who holds a licence under Part 6 (other than an independent trustee of a restricted scheme or a person referred to in subsection (2)):

(c)

every licensed supervisor:

(d)

every listed issuer (but see section 351(1)(ab)):

(e)

every operator of a licensed market (other than a market licensed under section 317 (overseas-regulated markets)):

(f)

every recipient of money from a conduit issuer (see section 453):

(g)

every registered bank:

(h)

every licensed insurer:

(i)

every credit union:

(j)

every building society:

(k)

every person that is an FMC reporting entity under clause 27A of Schedule 1.

(2)

Despite subsection (1)(b), a person who holds a licence under Part 6 is not an FMC reporting entity if—

(a)

the licence only covers acting as an administrator of a financial benchmark or a financial advice service (or both); and

(b)

the person is not a person referred to in subsection (1)(a) or (c) to (k).

Section 451: replaced, on 1 April 2014, by section 48 of the Financial Reporting (Amendments to Other Enactments) Act 2013 (2013 No 102).

Section 451(1)(b): amended, on 14 March 2021, by section 45(1) of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 (2019 No 46).

Section 451(2): inserted, on 14 March 2021, by section 45(2) of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Act 2019 (2019 No 46).

Section 451(2)(a): amended, on 15 March 2021, by section 33(2) of the Financial Services Legislation Amendment Act 2019 (2019 No 8).