Benchmark administrators and supervised contributors are supervised by the Benchmark Supervision team, a specialist team within FCA’s Wholesale Supervision Division.
Approach to Supervision
The FCA’s Approach to Supervision was published on March 2019 following a consultation.
Information for benchmark administrators
The Benchmark Regulation (BMR) introduced a new regime for benchmark administrators which ensures the accuracy and integrity of benchmarks.
The BMR does not require an authorised administrator to notify us of new benchmarks or families. However, if you wish to do so you may update the benchmark schedule you used during the authorisation/registration process and send it to us via email.
You must notify us if you wish to apply any exemptions in relation to your new benchmarks in accordance with Articles 25(1) and 26(1) BMR.
Articles 26(2) and 24(3) BMR require administrators to notify the FCA in the event their benchmarks change categories, i.e. they move from significant to non-significant and vice versa.
In addition, we would be grateful if you could inform us:
- If the estimated usage of a significant benchmark you administer is close to or reaches the critical benchmark thresholds set out in Article 20(1).
- If you intend to or begin to administer a significant benchmark.
- If you intend to or begin to administer a benchmark with contributors.
For any notification in respect of exemptions, changes or updates to existing benchmark categorisations or types you should notify us via our dedicated email address.
We have a dedicated Customer Contact Centre to help you with general queries, including general regulatory questions. To get in touch visit: https://www.fca.org.uk/contact.
For regulatory enquiries specifically related to benchmarks, you may wish to contact the FCA Benchmark Supervision team via email at [email protected].