Skip to main content

Home
FCA Handbook
BENCH
BENCH 2
BENCH 2.1 Parts of the Handbook applicable to benc...

Alternative versions

BENCH 2.1 Parts of the Handbook applicable to benchmark submission activity and benchmark administration activity

BENCH 2.1.1G02/04/2013

1The parts of the Handbook applicable to benchmark submitters and to benchmark administrators when they carry out the regulated activities of providing information in relation to a specified benchmark or administering a specified benchmark are listed in BENCH 2.1.2 G. Benchmark submitters and benchmark administrators should read applicable parts of the Handbook to find out what the detailed regulatory requirements are for the regulated activities of providing information in relation to a specified benchmark and administering a specified benchmark.

BENCH 2.1.2G07/03/2016

Parts of the Handbook applicable to the regulated activities of providing information in relation to a specified benchmark and administering a specified benchmark.

	Part of the Handbook	Applicability to the regulated activities of providing information in relation to a specified benchmark and administering a specified benchmark
High Level Standards	Principles for Businesses (PRIN)	This applies.
	Senior management arrangements, Systems and Controls (SYSC)	This applies.
	Threshold Conditions (COND)	This applies.
	Statements of Principle and Code of Practice for Approved Persons (APER)	This applies to an approved person of a firm that is not a relevant authorised person 2who performs a benchmark submission function or a benchmark administration function.
	2Code of Conduct sourcebook (COCON)	This applies to conduct rules staff of relevant authorised persons.
	The Fit and Proper test for Approved Persons (FIT)	This applies.
	General Provisions (GEN)	This applies.
	Fees Manual (FEES)	This applies.
Business Standards	Market Conduct Sourcebook (MAR)	MAR 1 (Code of Market Conduct), MAR 2 (Stabilisation) and MAR 8 (Benchmarks) apply.
Regulatory processes	Supervision manual (SUP)	This applies, with the following qualifications: (a) SUP 4 (Actuaries), SUP 12 (Appointed representatives), SUP 13 (Exercise of passport rights by UK firms), SUP 13A (Qualifying for authorisation under the Act), SUP 14 (incoming EEA firms changing details and cancelling qualification for authorisation), SUP 17 (Transaction Reporting), SUP 18 (Transfer of business), SUP 21 (Waiver), SUP App 2 (Insurers: Regulatory intervention points and run-off plans) and SUP App 3 (Guidance on passporting issues) will not be relevant to the regulated activities of providing information in relation to a specified benchmark and administering a specified benchmark.
Regulatory processes	Decision Procedure and Penalties Manual (DEPP)	This applies.
Redress	Dispute Resolution: the Complaints sourcebook (DISP)	All firms are subject to the Compulsory Jurisdiction of the Financial Ombudsman Service. However, a firm which does not, and notifies the FCA under DISP 1.1.12 R that it does not, conduct business with eligible complainants (persons eligible to have a complaint considered by the Financial Ombudsman Service, as defined in DISP 2.7) will be exempt from the rules on treating complaints fairly (DISP 1.2 to DISP 1.11) and from the Financial Ombudsman Funding rules (FEES 5.1 to FEES 5.7). The definition of the regulated activities of providing information in relation to a specified benchmark and administering a specified benchmark mean that benchmark submitters and benchmark administrators will qualify for these exemptions if it applies for them.
Handbook Guides	Special Guide for benchmark administrators (BENCH)	This applies.
Regulatory Guides	The Enforcement Guide (EG)	This applies.
Regulatory Guides	The Perimeter Guidance Manual (PERG)	This applies.
Glossary of definitions		This applies.