Paragraph 1 Regulatory decisions for EEA benchmarks for the purposes of Article 30(1) of the Benchmarks Regulation

(1)

The FCA may include, in the FCA register, a benchmark or a combination of benchmarks provided by an administrator located in an EEA state, for the purposes of Article 30(1) of the Benchmarks Regulation, where the following conditions are met—

(a)

an equivalence direction has been made that makes a determination in relation to that EEA state for the purposes set out in paragraph 1(1) or (2) of Schedule 1 to the 2019 Regulations;

(b)

the administrator is authorised or registered, and is subject to supervision, in that EEA state;

(c)

the FCA is notified by the administrator of—

(i)

its consent that its actual or prospective benchmarks may be used by supervised entities in the United Kingdom;

(ii)

the list of the benchmarks for which they have given consent to be used in the United Kingdom; and

(iii)

the authority responsible for its supervision in that EEA state; and

(d)

relevant cooperation arrangements have been established in relation to that EEA state.

(2)

In this paragraph, “FCA register” means the register of administrators and benchmarks established and maintained by the FCA in accordance with Article 36(1) of the Benchmarks Regulation.