Cap. 330 Art. 20ETransparency of securities financing transactions andof re-use, and benchmarks.

The Minister may, acting on the advice of the Authority, make regulations for the following purposes:

(a) to implement and, or give effect to:

(i) the requirements of Regulation (EU) 2016/1011

of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/ 17/EU and Regulation (EU) No. 596/2014, and to otherwise regulate the supervision of supervised entities within the meaning of Regulation (EU) 2016/1011; and

(ii) the requirements of Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of re-use and amending Regulation (EU) No. 648/2012, and to otherwise regulate the supervision of financial counterparties and non-financial counterparties within the meaning of Regulation

(EU) 2015/2365;

(b) where regulations have been made in terms of this article, the Authority may issue Rules for the better carrying out of, and to better implement, the provisions of the regulations;

(c) to establish and impose administrative penalties and other administrative measures as may be specified therein for the purposes of implementing Regulation

(EU) 2016/1011 and Regulation (EU) No 2015/2365 and to provide for appeals therefrom to the Financial Services Tribunal.