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FCA publishes final rules on applying SMR to benchmark administrators

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Published on: 02 June 2020

Published by LNB News

LNB News 02/06/2020

Document Information

Issue Date: 02 June 2020

Published Date: 02 June 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Financial Conduct Authority (FCA) has published Extending the Senior Managers Regime to benchmark administrators (PS20/5), which summarises the feedback received to consultation paper CP19/31, and the FCA’s response, and sets out the FCA’s final rules and guidance for applying the Senior Managers Regime (SMR) to benchmark administrators authorised in the UK that do not undertake any other regulated activities. PS20/5 also affects Appointed Representatives and their principals. The SMR and the Conduct Rules will come into force for benchmark administrators that do not undertake any other regulated activities on 7 December 2020.

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