On 13 September 2019, the Financial Services and Markets Act 2000 (Benchmarks)(Amendment) Regulations 2019 (Regulations) were made and published on legislation.gov.uk, together with an explanatory memorandum. The Regulations make various amendments to the Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (2018 Regulations) which relate to the UK implementation of the European Benchmarks Regulation (BMR).

The Regulations amend the definition of a “miscellaneous benchmarks person” in regulation 5(2)(e) of the 2018 Regulations to include a person who administers a benchmark in accordance with Article 46(8) of the BMR. The Regulations also clarify the scope of powers of the FCA to impose requirements “in order to advance any of its operational objectives” in respect of those miscellaneous benchmark persons.

You can track the financial services Brexit EU Exit statutory instruments (as well as gain access to our Brexit resources) on our Brexit Pathfinder hub. Registration is free via the NRF Institute portal. Conformed copies of the EU Exit statutory instruments are available exclusively through our PathfinderPLUS service. To gain access to PathfinderPLUS, please contact Jochen Vester or Simon Lovegrove.