{
  "url": "https://openlegislation.uk/eu-regulation-2016-1011/annex-II/division-8/division-16",
  "json_url": "https://openlegislation.uk/eu-regulation-2016-1011/annex-II/division-8/division-16.json",
  "legislation": "eur/2016/1011",
  "legislation_title": "Regulation (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2016-1011",
  "path": "annex/II/division/8/division/16",
  "kind": "division",
  "number": "16",
  "heading": "The administrator of a commodity benchmark shall have in place and publish a complaints handling policy setting out procedures for receiving, investigating and retaining records concerning complaints made about an administrator's calculation process. Such complaint mechanisms shall ensure that:",
  "text": "(a) subscribers of the benchmark may submit complaints on whether a specific benchmark calculation is representative of market value, proposed benchmark calculation changes, applications of methodology in relation to a specific benchmark calculation and other editorial decisions in relation to the benchmark calculation processes;\n(b) there is in place a target timetable for the handling of complaints;\n(c) formal complaints made against the administrator and its personnel are investigated by that administrator in a timely and fair manner;\n(d) the inquiry is conducted independently of any personnel who may be involved in the subject of the complaint;\n(e) the administrator aims to complete its investigation promptly;\n(f) the administrator advises the complainant and any other relevant parties of the outcome of the investigation in writing and within a reasonable period;\n(g) there is recourse to an independent third party appointed by the administrator. if a complainant is dissatisfied with the way a complaint has been handled by the relevant administrator or the administrator's decision in the situation no later than six months from the time of the original complaint; and\n(h) all documents relating to a complaint, including those submitted by the complainant as well as an administrator's own record, are retained for a minimum of five years.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2016/1011/annex/II/division/8/division/16",
    "retrieved_at": "2026-11-01T14:45:45.723985+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}