Part 2: Benchmarks Section 9: Mandatory administration of a critical benchmark
This section makes changes and introduces new provisions under Article 21(3) of the BMR in relation to the FCA powers to mandate an administrator to continue providing a critical benchmark under certain conditions where the administrator gives notice to cease providing the benchmark.
	It amends Article 21(3) to extend the maximum period for which the FCA may compel the administrator to continue to publish the benchmark to 10 years.
	It introduces new paragraphs 3A, 3B and 3C under Article 21. These provisions require the FCA to conduct an assessment of the benchmark’s capability to measure the underlying market and economic reality, once the FCA decides to mandate administration of a critical benchmark under Article 21(3). The FCA is required to conduct the assessment and issue a written notice on the outcome of its assessment to the administrator within the time period specified in this paragraph.