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Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Version date: 31 December 2020
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Article 32 Recognition of an administrator located in a third country

1. Until such time as regulations are made in accordance with Article 30(2) or (3), a benchmark provided by an administrator located in a third country may be used by supervised entities in the United Kingdom provided that the administrator acquires prior recognition by the FCA in accordance with this Article.

2. An administrator located in a third country intending to obtain prior recognition as referred to in paragraph 1 of this Article shall comply with the requirements established in this Regulation, excluding Article 11(4) and Articles 16, 20, 21 and 23. The administrator may fulfil that condition by applying the IOSCO principles for financial benchmarks or the IOSCO principles for PRAs, as applicable, provided that such application is equivalent to compliance with the requirements established in this Regulation, excluding Article 11(4), and Articles 16, 20, 21 and 23.

For the purposes of determining whether the condition referred to in the first subparagraph is fulfilled, and in

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