(1) The FCA may exercise its power under paragraph (2) in relation to a Miscellaneous BM person if it appears to the FCA that -

(a) the Miscellaneous BM person has contravened or is likely to contravene a relevant requirement;

(b) it is desirable for the FCA to exercise its powers in order to advance any of its operational objectives or but only in respect of a Miscellaneous BM person coming within regulation 5(2)(d) or (e);

(c) it is desirable for the FCA to exercise its powers order to facilitate the performance of its functions under the EU Benchmarks Regulation 2016.

(2) The FCA's power under this paragraph is a power to -

(a) impose a requirement that the FCA considers appropriate;

(b) vary a requirement already imposed under this paragraph; or

(c) cancel such a requirement.

(3) The FCA may, on the application of the Miscellaneous BM person -