Section 123ZZ

maintain a record of —

all transactions undertaken by the financial institution in relation to one or more underlying things that are the subject of a designated benchmark; and

all transactions undertaken by the financial institution in relation to financial instruments that use a designated benchmark for reference to determine the price, value, interest payable, sums due or performance of the financial instrument,in such form and manner as the Authority may prescribe in those regulations or specify by written notice, including —

the extent to which the record includes details of each transaction or exposure; and

the period of time that the record is to be maintained; and

submit to the Authority such reports in such form, manner and frequency as the Authority may prescribe in those regulations or specify by written notice.

a bank licensed under the Banking Act 1970;

a merchant bank that is licensed under the Banking Act 1970;

a finance company licensed under the Finance Companies Act 1967;

the holder of a capital markets services licence under this Act;

a licensed financial adviser under the Financial Advisers Act 2001;

a company or co‑operative society licensed under the Insurance Act 1966 as a direct insurer carrying on life business;

an insurance intermediary licensed under any written law relating to insurance intermediaries if the intermediary arranges contracts of insurance in respect of life business; or

such other person or class of persons as may be prescribed by regulations made under section 123ZZA.