Events listed in Retained Benchmark Regulation (UK BMR)
Extending the transitional period for third country benchmarks in the UK
ID 25699
On November 8, 2023, the HM Treasury has issued a policy paper on behalf of the UK government to inform of and explain the reasoning behind its legislative action to extend the transitional period for third country benchmarks under the UK Benchmarks Regulation up to December 31, 2030. Currently, this transition period is set to expire at the end of 2025. Following this date, ...
Annex 4 Benchmarks Regulation – Notice of Modifications – US Dollar LIBOR [pdf]
ID 23993
As previously announced and in view of the termination of the remaining US Dollar LIBOR tenors and the disclosure of certain panels on a synthetic basis only from July 1, 2023, the Financial Conduct Authority has published a final notice of its amendments to the Retained Benchmark Regulation (UK BMR) and numerous delegated regulations thereunder (please see the list above). The notice was sent ...
Annex 4 Benchmarks Regulation – Notice of proposed modifications [pdf]
ID 23497
In view of the upcoming termination of the remaining US Dollar LIBOR tenors and to facilitate the disclosure of certain panels on a synthetic basis, the Financial Conduct Authority has published a draft version of its upcoming amendments to the Retained Benchmark Regulation (UK BMR) and numerous delegated regulations thereunder (please see the list above). The draft was sent to the *ICE Benchmark Administration ...
FCA outlines where improvements are needed in ESG benchmarks
ID 22364
Following the conclusion of a preliminary review of practices of ESG benchmark administrators and the publication of a Portfolio Letter in September 2022 addressing first findings and key deficiencies (please see EventID 17228 for more information), the FCA has now published a follow-up Portfolio Letter in this context. As already noted in its first letter, the FCA states that it has identified MAJOR deficiencies ...
Memorandum of Understanding concerning the recognition of UK benchmark ...
ID 21578
The Financial Conduct Authority, FCA, has published a new Memorandum of Understanding (MoU) concluded between the Authority itself and the European Securities and Markets Authority (ESMA) as regards the supervision of UK benchmark administrators operating within the boundaries of the EU. This MoU is necessary following the UK’s exit from the European Union and the subsequent designation of UK benchmark administrators as third country ...
Memorandum of Understanding concerning EU critical benchmarks between ESMA and the ...
ID 21568
The Financial Conduct Authority, FCA, has published a new Memorandum of Understanding (MoU) concluded between the Authority itself and the European Securities and Markets Authority (ESMA) as regards the exchange of information in connection with EU-designated critical benchmarks pursuant to Article 20 of the Retained Benchmark Regulation (UK BMR). Specifically, the parties agree to (1) exchange information on EU-designated critical benchmarks whose administrators are ...