keep The Financial Services and Markets Act 2000 (Commodity Derivatives and Emission Allowances) Order 2023
Technical amendment Order that modifies reporting and notification requirements under the Financial Services and Markets Act 2000 for firms dealing in commodity derivatives and emission allowances. It streamlines references to FCA reporting obligations, simplifies regulatory text by replacing lengthy descriptions with direct references to regulation 47, and removes redundant wording in provisions relating to algorithmic trading notifications.
Britons would be worse off if deleted because this Order streamlines rather than expands regulatory requirements. It reduces compliance complexity by replacing convoluted cross-references with clear, direct references to regulation 47. Removing it would restore the more cumbersome original wording without reducing any actual regulatory burden — firms would still owe the same duties but with more obtuse statutory language. This is administrative rationalisation that aids clarity without expanding state power.