Law

The Critical Benchmarks Regulations 2024

United Kingdom · regulation

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In force since 2024-11-13, as the publisher states.

Copy read on 2026-11-10. The page it was read from

Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.

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Contents: 3 provisions
  1. Title and introductory text
  2. 1 Citation, commencement and extent
  3. 2 Critical benchmarks

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3 provisions

Title and introductory text

2024 No. 1051 FINANCIAL SERVICES AND MARKETS The Critical Benchmarks Regulations 2024 Made 21st October 2024 Laid before Parliament 22nd October 2024 Coming into force 13th November 2024 The Treasury make these Regulations in exercise of the power conferred by Article A20(5) of 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. In accordance with Article A20 of that Regulation: the Financial Conduct Authority has recommended that the benchmarks specified in these Regulations should be recognised as critical in accordance with the review procedure in paragraphs 2 and 3 of Article A20; the Treasury have determined for the purposes of paragraph 5 of Article A20 that the Financial Conduct Authority’s review complies with the requirements of paragraphs 2 and 3 of Article A20.

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1 Citation, commencement and extent

(1) These Regulations may be cited as the Critical Benchmarks Regulations 2024 and come into force on 13th November 2024. (2) These Regulations extend to England and Wales, Scotland and Northern Ireland.

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2 Critical benchmarks

The following benchmarks are critical benchmarks— (a) WMR Closing Spot Rates (also known as the WMR London 4pm Closing Spot Rate); (b) ICE Swap Rate®.

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