11.18.20
On Wednesday, November 18, the Financial Conduct Authority (FCA) announced a consultation asking market participants to comment on how they intend to use some of the powers granted to them under the U.K.’s Financial Services Bill. Specifically, the FCA asks market participants to respond to section 23A, which focuses on the designation of an unrepresentative benchmark, and section 23D, which focuses on the required changes to critical benchmarks.
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