The proposal would substantially reduce the number of benchmarks in scope of the EU BMR. By Nicola Higgs, Becky Critchley, Ella McGinn, and Charlotte Collins On 17 October 2023, the European Commission published a legislative proposal that would significantly alter the benchmarks in scope of the EU Benchmarks Regulation (BMR). The proposal aims to address … Continue Reading
The proposals enhance the FCA’s powers to ensure an orderly wind-down of critical benchmarks and to deal with “tough legacy” contracts that cannot transition from LIBOR. By Nicola Higgs and Ella McGinn On 23 June 2020, the FCA published a statement welcoming HM Treasury’s announcement that the Treasury intends to bring forward legislation to amend … Continue Reading
The UK government clarifies its legislative plans for financial services regulatory reforms post-Brexit. By Rob Moulton and Anna Lewis-Martinez On 23 June 2020, the House of Commons published a written statement from Rishi Sunak, Chancellor of the Exchequer, on the UK’s approach to implementing financial services regulatory reforms before the end of the Brexit transition … Continue Reading
The three draft delegated regulations set out sustainability criteria and ESG disclosure requirements for benchmarks provided in accordance with the EU Benchmarks Regulation. By Nicola Higgs and Becky Critchley On 8 April 2020, the European Commission published the three draft delegated regulations required by Regulation (EU) 2019/2089, commonly referred to as the Low Carbon Benchmarks … Continue Reading
