FCA examines applying SMR to benchmark admins
The UK Financial Conduct Authority (FCA) has started a consultation on how it should apply the Senior Managers Regime (SMR) to benchmark administrators.
All benchmark administrators will be automatically classified as core firms for the purpose of SMR, unless they use the FCA’s waiver process to apply for limited scope categorisation.The regulator described benchmark administrators as providing critical market infrastructure, with the pricing of many financial instruments and contracts depending ...
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