Part 1: Regulatory Framework Financial market infrastructure: general rules and requirements Section 11: Rules relating to investment exchanges and other data reporting service providers
This section inserts new section 300H into FSMA 2000. This new section gives the Financial Conduct Authority (FCA) general rule-making powers with regard to Recognised Investment Exchanges (RIEs) and Data Reporting Service Providers (DRSPs).
	Subsection (1) explains that FSMA 2000 will be amended to establish this power.
	Subsection (2) inserts a new section (300H) into FSMA 2000 to confer the new rule-making powers on the FCA.
	New subsection 300H(1) of FSMA 2000 limit the FCA’s ability to make rules applying to RIEs and DRSPs to circumstances where the FCA considers that doing so is necessary or expedient to advance one or more of its operational objectives. These objectives are set out in FSMA 2000 (see section 1B(3)).
	New subsection 300H(2) defines relevant activity for the purposes of 300G.
	New subsection 300H(3) provides indicative examples of the sort of requirements the FCA could impose using this power.
	New subsection 300H(4) stipulates that the FCA may not use this power to change, amend or revoke any retained direct EU law for RIEs or DRSPs with the exception of parts of retained direct EU law which take the form of FCA rules.
	New subsection 300H(5) sets out the definitions applicable to this power. It also sets out that this power is only applicable to UK authorised RIEs, not overseas investment exchanges as defined in section 313(1) FSMA 2000.
	Subsection (3) gives the FCA the power to appoint a skilled person to collect and update information in relation to RIEs, if it considers that an RIE has contravened a requirement in rules made by the FCA.
	Subsection (4) enables the FCA to appoint investigators if they believe an authorised RIE might have breached the rules made using this power.
	Subsection (5) gives the appropriate regulator the power to publish a statement when it considers that a DRSP or RIE has contravened a relevant requirement.
	Subsection (6) makes consequential amendments to Chapter 3A of Part 18 of FSMA 2000. This ensures that the various disciplinary measures in that chapter also apply to DRSPs in respect of breaches of rules made under the FCA’s general rule-making power.