Financial Markets Conduct Regulations 2014

Schedule 28 Market services licence for service of acting as administrator of financial benchmark

rr 187A, 197B

Schedule 28: inserted, on 15 March 2021, by regulation 7 of the Financial Markets Conduct (Licensing of Administrators of Financial Benchmarks) Amendment Regulations 2020 (LI 2020/319).

Contents

1Interpretation
2Governance and oversight of benchmark activities
3Conflicts of interest
4Resources
5Outsourcing arrangements
6Independent oversight committee for interest rate benchmark
7Design of financial benchmark
8Financial benchmark data
9Methodology for generating financial benchmark
10Business continuity and management of risk
11Contributor conduct rules
12Investigation of complaints
13Transfer or cessation of generation or operation of financial benchmark
14Review and update of governance and conflict of interest systems and procedures
15Outsourcing arrangements
16Governance requirements in relation to independent oversight committee
17Manner of generation and operation of financial benchmark
18Financial benchmark data
19Use, review, and update of methodology for generating financial benchmark
20Final stage methodology for interest rate benchmark
21Information that must be publicly available
22Licensee must notify FMA of material change to financial benchmark methodology
23Licensee must notify FMA of material change to contributor conduct rules
24Licensee must report significant contraventions of Part 2 of Act
25Notification of intention to cease generation or operation of financial benchmark
26Compliance records
27Licensee must give information to FMA
28Monitoring compliance with contributor conduct rules
29Investigation of complaints
30Transfer or cessation of generation or operation of financial benchmark
31Assurance engagement