FCA statement on planned amendments to the Benchmarks Regulation

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FCA statement on planned amendments to the Benchmarks Regulation

23rd June 2020, 09:20:AM

The FCA welcomes the Government’s announcement today that it intends to bring forward legislation to amend the Benchmarks Regulation (BMR) to give the FCA enhanced powers. These could help manage and direct an orderly wind-down of critical benchmarks such as LIBOR, and, in particular, help deal with the problem identified by the Sterling Risk Free Rate Working Group of ‘tough legacy’ contracts that cannot transition from LIBOR.

https://www.fca.org.uk/news/statemen...rks-regulation

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FCA statement on planned amendments to the Benchmarks Regulation

FCA statement on planned amendments to the Benchmarks Regulation

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