(1) Section 1B of FSMA 2000 [Section 1B was inserted by section 6 of the Financial Services Act 2012 and amended by section 25 of the Financial Services and Markets Act 2023 and S.I. 2018/1115 and 1330.] (FCA's general duties) -

(a) applies with respect to the FCA's discharging of its functions in relation to persons on whom requirements are imposed by or under these Regulations, as it applies to arrangements for the discharge of the FCA's general functions under that Act, with the modifications specified in paragraph (2);

(b) in its application to the discharging by the FCA of its functions under section 1B(6)(a) of that Act, has effect with the modifications specified in paragraph (2).

(2) For the purposes of the interpretation of section 1B(2) of FSMA 2000 -

(a) section 1F applies as if "relevant markets" included the market for data reporting services;

(b) section 1H(2) applies as if "regulated financial services" (for the purposes of the interpretation of that term in section 1F) included services provided by data reporting service providers.