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The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019

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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Benchmarks (Amendment and Transitional Provision) (EU Exit) Regulations 2019 No. 657

  1. Introductory Text

  2. PART 1 General

    1. 1.Citation and commencement

  3. PART 2 Amendment of EU Regulations

    1. CHAPTER 1 Amendment of Regulation (EU) 2016/1011

      1. 2.Amendment of Regulation (EU) 2016/1011

      2. 3.Subject-matter

      3. 4.Scope

      4. 5.Definitions

      5. 6.Governance and conflict of interest requirements

      6. 7.Oversight function requirements

      7. 8.Accountability framework requirements

      8. 9.Outsourcing

      9. 10.Input data

      10. 11.Transparency of methodology

      11. 12.Reporting of infringements

      12. 13.Code of conduct

      13. 14.Governance and control requirements for supervised contributors

      14. 15.Critical benchmarks: review of critical benchmarks

      15. 16.Critical benchmarks: amendments to Article 20

      16. 17.Mandatory administration of a critical benchmark

      17. 18.Mitigation of market power of critical benchmark administrators

      18. 19.Mandatory contribution to a critical benchmark

      19. 20.Significant benchmarks

      20. 21.Exemptions from specific requirements for significant benchmarks

      21. 22.Non-significant benchmarks

      22. 23.Benchmark statement

      23. 24.Changes to and cessation of a benchmark

      24. 25.Title V

      25. 26.Use of a benchmark

      26. 27.Equivalence

      27. 28.Withdrawal of registration of an administrator located in a third country

      28. 29.Recognition of an administrator located in a third country

      29. 30.Endorsement of benchmarks provided in a third country

      30. 31.Authorisation and registration of an administrator

      31. 32.Withdrawal or suspension of authorisation or registration

      32. 33.Register of administrators and benchmarks

      33. 34.Competent authorities and cooperation

      34. 35.Publication of decisions

      35. 36.Colleges

      36. 37.Cooperation with ESMA

      37. 38.Professional secrecy

      38. 39.Title VII

      39. 40.Exercise of the delegation

      40. 41.Committee procedure

      41. 42.Transitional provisions

      42. 43.Reviews

      43. 44.Directives

      44. 45.Final provisions

    2. CHAPTER 2 Amendment of other EU Regulations

      1. 46.Amendment of Commission Implementing Regulation (EU) 2016/1368

      2. 47.Amendment of Commission Delegated Regulation (EU) 2018/64

      3. 48.Amendment of Commission Delegated Regulation (EU) 2018/65

      4. 49.Amendment of Commission Delegated Regulation (EU) 2018/66

      5. 50.Amendment of Commission Delegated Regulation (EU) 2018/67

  4. PART 3 Transitional provision

    1. CHAPTER 1 Registration

      1. 51.Conditions to be satisfied for information to be recorded on the FCA register

      2. 52.Information to be recorded on the FCA register

      3. 53.Application of the UK Benchmarks Regulation

    2. CHAPTER 2 Temporary registration

      1. 54.The temporary registration period

      2. 55.Conditions to be satisfied for information to be temporarily recorded on the FCA register

      3. 56.Information to be recorded on the FCA register

      4. 57.Information to be added to the FCA register

      5. 58.Removal of temporary information from the FCA register

      6. 59.Removal of temporary information and the FCA’s objectives

      7. 60.Reinstatement of information on the FCA register

      8. 61.Use of a benchmark that is temporarily recorded on the FCA register

      9. 62.Use of a benchmark that is removed from the FCA register

      10. 63.Application of the UK Benchmarks Regulation

      11. 64.New applications made under the UK Benchmarks Regulation

    3. CHAPTER 3 Interpretation

      1. 65.Interpretation of this Part

  5. Signature

  6. Explanatory Note

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