Related provisions for MAR 8.2.5

1 - 3 of 3 items.

Search Term(s)

Filter by Topics

Filter by Modules

Filter by Documents

Filter by Keywords

Effective Period

Similar To

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

MAR 8.3.4GRP
The arrangements described in MAR 8.3.3 R should include measures designed to ensure the confidentiality of benchmark submissions and additional information received from benchmark submitters (to the extent that such submissions and information are not publicly available or1 have not been made public by mutual agreement between the benchmark administrator and benchmark submitter), for example, through confidentiality agreements for the benchmark administrator's employees and members
MAR 8.3.7BGRP
1To ensure it is using adequate benchmark submissions, a benchmark administrator of a specified benchmark that does not have benchmark submitters should use benchmark submissions that are: (1) representative of the state of the market the specified benchmark references; or(2) made available by reliable data sources.
MAR 8.3.8ARRP
1A benchmark administrator of a specified benchmark that does not have benchmark submitters must consider including in the oversight committee representatives of persons who make benchmark submissions available.
MAR 8.3.9GRP
The oversight committee should be responsible for:(1) considering matters of definition and scope of the specified benchmark;(2) exercising collective scrutiny of benchmark submissions if and when required; and(3) notifying the FCA of benchmark submitters that fail on a recurring basis to follow the practice standards (as set out in MAR 8.3.10R (1)) for the specified benchmark.
MAR 8.3.10RRP
The benchmark administrator through its oversight committee must:(1) develop practice standards in a published code which, for the relevant specified benchmark, set out the responsibilities for: 11(a) 1benchmark submitters and (where applicable) persons who make benchmark submissions available;(b) 1the benchmark administrator; and(c) 1the oversight committee;(2) undertake regular periodic reviews of:(a) the practice standards mentioned in MAR 8.3.10R (1);(b) the setting and definition
MAR 8.3.10AGRP
1For specified benchmarks that do not have benchmark submitters:(1) the practice standards in MAR 8.3.10R (1) should specify data standards, including data quality and the representativeness of benchmark submissions; and(2) the process of making relevant benchmark submissions in MAR 8.3.10R (2)(d) should include processing, considering or using the benchmark submission to determine the specified benchmark it administers.
MAR 8.3.12BGRP
1For a specified benchmark that does not have benchmark submitters, the records in MAR 8.3.12AR (2) should include, where available, information sufficient to identify the person and the individual who made the benchmark submission available to the relevant benchmark administrator.
MAR 8.2.6GRP
An effective methodology for determining benchmark submissions in addition to quantitative criteria may include the use of qualitative criteria, such as the expert judgment of the benchmark submitter.
MAR 8.2.7RRP
A benchmark submitter must maintain and operate effective organisational and administrative arrangements to enable it to identify and manage any conflicts of interest that may arise from the process of making benchmark submissions.
MAR 8.2.8GRP
In order to identify and manage conflicts of interest as set out in MAR 8.2.7 R a benchmark submitter should:(1) establish, implement and maintain a conflicts of interest policy which(a) identifies the circumstances that constitute, or may give rise to, a conflict of interest arising from its benchmark submissions or the process of gathering information in order to make benchmark submissions; and(b) sets out the approach to managing such conflicts;(2) establish effective controls
MAR 8.2.10RRP
A benchmark submitter must:(1) keep for at least five years: (a) records of its benchmark submissions, as well as all information used to enable it to make a benchmark submission; and(b) reports on the key sensitivities the benchmark submitter may have regarding the specified benchmark it is submitting to, including (but not limited to) the benchmark submitter's exposure to instruments which may be affected by changes in the specified benchmark;(2) provide to the relevant benchmark
PERG 2.7.20IGRP
12For the avoidance of doubt, a firm who is a benchmark submitter is not expected to be carrying out the activities mentioned in PERG 2.7.20HG (2) if it collects, analyses or processes information or expressions of opinion for the purposes of making its own submissions.