Corporations Act 2001



Division 2 - Licensing of financial benchmarks  

Subdivision E - Matters to which ASIC must have regard  


ASIC must have regard to certain matters in deciding whether to take any of the following actions in relation to a financial benchmark:

(a) grant under section 908BC a benchmark administrator licence that specifies the financial benchmark;

(b) impose, vary or revoke conditions on such a licence under section 908BC or 908BG ;

(c) vary such a licence under section 908BH for a change referred to in paragraph 908BH(b) or (c);

(d) suspend or cancel such a licence under section 908BJ .

The matters ASIC must have regard to are as follows:

(a) how the financial benchmark is, or is to be, administered;

(b) the nature and purpose of the financial benchmark;

(c) the manner in which the financial benchmark is, or is to be, used;

(d) the persons who are, or may be, required to report data or other information to the licensee for the purposes of generating or administering the financial benchmark;

(e) for an entity that is authorised to administer the same or a similar financial benchmark in the foreign country in which its principal place of business is located:

(i) the criteria that the entity satisfied to obtain an authorisation to administer that financial benchmark in that country; and

(ii) the obligations the entity must continue to comply with to keep the authorisation; and

(iii) the level of supervision to which the administration of that financial benchmark in that country is subject; and

(iv) whether adequate arrangements exist for cooperation between ASIC and the authority that is responsible for that supervision;

(f) whether it would be in the public interest to take the action referred to in subsection (1).

ASIC may also have regard to any other matter that ASIC considers relevant.


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