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FCA updates webpage on the new benchmarks register

On 28 September 2022, the FCA updated their webpage on the new Benchmarks Register.

The webpage now includes the following text:

“Following Brexit, we have developed the new Benchmarks Register, which replaces the ESMA Register for UK supervised users, and UK and third country-based benchmark administrators that want their benchmarks to be used in the UK.” See new text, “The register also includes information on: Any prohibitions of use of a benchmark under Articles 21A or 23B, Any benchmarks that have been designated under Article 23A.*Third country administrators relying on the transitional provision are not listed on the register and are supervised by their home authorities, not the FCA”. See also updated text under Third Country Benchmarks section, “The Treasury has extended the transitional period for third country benchmarks from 31 December 2022 to 31 December 2025. Third country administrators that want the use of their benchmarks by UK Supervised Entities to continue after 31 December 2025, must apply to us for approval via equivalence, recognition or endorsement, before this date.”

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