# 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), Article 8: Record-keeping requirements

Extent: E+W+S+N.I.

1. An administrator shall keep records of:
(a) all input data, including the use of such data;
(b) the methodology used for the determination of a benchmark;
(c) any exercise of judgement or discretion by the administrator and, where applicable, by assessors, in the determination of a benchmark, including the reasoning for said judgement or discretion;
(d) the disregard of any input data, in particular where it conformed to the requirements of the benchmark methodology, and the rationale for such disregard;
(e) other changes in or deviations from standard procedures and methodologies, including those made during periods of market stress or disruption;
(f) the identities of the submitters and of the natural persons employed by the administrator for the determination of a benchmark;
(g) all documents relating to any complaint, including those submitted by a complainant; and
(h) telephone conversations or electronic communications between any person employed by the administrator and contributors or submitters in respect of a benchmark.
2. An administrator shall keep the records set out in paragraph 1 for at least five years in such a form that it is possible to replicate and fully understand the determination of a benchmark and enable an audit or evaluation of input data, calculations, judgements and discretion. Records of telephone conversation or electronic communications recorded in accordance with point (h) of paragraph 1 shall be provided to the persons involved in the conversation or communication upon request and shall be kept for a period of three years.

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Source: https://www.legislation.gov.uk/eur/2016/1011/article/8 (the official version)
Page: https://openlegislation.uk/eu-regulation-2016-1011/article-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.