EU Allows UK Benchmark Administrators In Bloc Until 2023

Law360, London (March 25, 2021, 1:43 PM GMT) -- Europe's financial institutions can rely on U.K.-based administrators to provide data for benchmarks until the end of 2023, even though Britain has already left the single market, the bloc's markets watchdog has said.

The European Securities and Markets Authority said Wednesday that companies can rely on British benchmark administrators to provide information for indices until Dec. 31, 2023. Benchmark administrators are firms that submit data to calculate the standards against which the performance of an investment product can be measured.

Britain left the EU's regulatory orbit on Dec. 31 and so U.K. benchmark administrators have been deleted from ESMA's register as...

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