There has been published on the legislation.gov.uk website The Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (the Regulations). The Regulations implement parts of the EU Benchmarks Regulation (BMR): Part 1 of the Regulations designates the FCA as the competent authority in the UK responsible for carrying on the duties of the competent authority under the BMR; Part 2 of the Regulations makes provision for the FCA to exercise powers in respect of persons who are involved in the provision of a benchmark but are not benchmark administrators within the meaning of Article 3 of the BMR; Part 3 of the Regulations makes provision for the FCA to impose requirements on persons requiring them to administer or contribute to a benchmark; Part 4 of the Regulations makes provision in respect of the administration of a benchmark; Part 5 of the Regulations makes amendments to the Financial Services and Markets Act 2000 (FSMA) to give effect to the BMR. Section 22 of FSMA…
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