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

1Citation and commencement

PART 2Amendment of EU Regulations

CHAPTER 1Amendment of Regulation (EU) 2016/1011

2Amendment of Regulation (EU) 2016/1011

3Subject-matter

6Governance and conflict of interest requirements

7Oversight function requirements

8Accountability framework requirements

11Transparency of methodology

12Reporting of infringements

13Code of conduct

14Governance and control requirements for supervised contributors

15Critical benchmarks: review of critical benchmarks

16Critical benchmarks: amendments to Article 20

17Mandatory administration of a critical benchmark

18Mitigation of market power of critical benchmark administrators

19Mandatory contribution to a critical benchmark

20Significant benchmarks

21Exemptions from specific requirements for significant benchmarks

22Non-significant benchmarks

23Benchmark statement

24Changes to and cessation of a benchmark

26Use of a benchmark

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

29Recognition of an administrator located in a third country

30Endorsement of benchmarks provided in a third country

31Authorisation and registration of an administrator

32Withdrawal or suspension of authorisation or registration

33Register of administrators and benchmarks

34Competent authorities and cooperation

35Publication of decisions

37Cooperation with ESMA

38Professional secrecy

40Exercise of the delegation

41Committee procedure

42Transitional provisions

45Final provisions

CHAPTER 2Amendment of other EU Regulations

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

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

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

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

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

PART 3Transitional provision

CHAPTER 1Registration

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

52Information to be recorded on the FCA register

53Application of the UK Benchmarks Regulation

CHAPTER 2Temporary registration

54The temporary registration period

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

56Information to be recorded on the FCA register

57Information to be added to the FCA register

58Removal of temporary information from the FCA register

59Removal of temporary information and the FCA’s objectives

60Reinstatement of information on the FCA register

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

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

63Application of the UK Benchmarks Regulation

64New applications made under the UK Benchmarks Regulation

CHAPTER 3Interpretation

65Interpretation of this Part

Draft Regulations laid before Parliament under paragraph 1(1) and (2) of Schedule 7 to the European Union (Withdrawal) Act 2018, for approval by resolution of each House of Parliament.

2019 No.

Exiting The European Union

Financial Services

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

Made***

Coming into force in accordance with regulation 1

The Treasury make these Regulations in exercise of the powers conferred by section 8(1) of, and paragraph 21(b) of Schedule 7 to, the European Union (Withdrawal) Act 20181.

A draft of these Regulations has been laid before, and approved by a resolution of, each House of Parliament in accordance with paragraph 1(1) and (2) of Schedule 7 to that Act.