On 5 July 2017, the European Securities and Markets Authority (ESMA) published a set of questions and answers in relation to the transitional provisions for the Benchmark Regulation (BMR). The FCA has now issued the following statement on its website:

“This is an important clarification for industry and will inform decisions on when to apply for authorisation or registration during the period January 2018 to December 2019. The FCA can approve applications from index providers and send information to the ESMA Registry from January 2018. Our consultation on proposed changes to our Handbook to accompany the application of the BMR is open until 22 August 2017.”

View FCA statement on ESMA Q&As on transitional provisions under Benchmarks Regulation, 7 July 2017