Singapore legislation
Regulation 11
of Securities and Futures (Financial Benchmarks) Regulations 2018
Regulation 11
Obligation to notify Authority of certain matters
Subregulation 1
For the purposes of section 123Q(1)(e)(i) of the Act, the other matters that an authorised benchmark administrator or exempt benchmark administrator (each called in this regulation the administrator) must notify the Authority of are as follows:
any civil or criminal proceedings that have been started against the administrator, whether in Singapore or elsewhere;
any disciplinary action taken against the administrator, or any of its representatives, by any regulatory authority other than the Authority, whether in Singapore or elsewhere;
any material change to the regulatory requirements imposed on the administrator, by any regulatory authority other than the Authority, whether in Singapore or elsewhere;
that the administrator has reasonable grounds to believe that the designated benchmark that it carries on the business of administering has been the subject of manipulation or attempted manipulation;
any compromise of the integrity or security of either the transmission or the storage of any record that the administrator is required to maintain under section 123R(1) of the Act.
Subregulation 2
For the purposes of section 123Q(4) of the Act —
no later than 14 days after the administrator notifies the Authority of any proceedings mentioned in paragraph (1)(a), the administrator must notify the Authority of —
the circumstances leading to those proceedings; and
any action that the administrator has taken, or intends to take, in relation to those proceedings;
no later than 14 days after the administrator notifies the Authority of any disciplinary action mentioned in paragraph (1)(b), the administrator must notify the Authority of —
the circumstances leading to that disciplinary action; and
any action that the administrator has taken, or intends to take, in relation to that disciplinary action;
no later than 14 days after the administrator notifies the Authority of any matter mentioned in paragraph (1)(d), the administrator must notify the Authority of —
the grounds mentioned in paragraph (1)(d); and
any action that the administrator has taken, or intends to take, in relation to the manipulation or attempted manipulation mentioned in paragraph (1)(d); and
no later than 14 days after the administrator notifies the Authority of any matter mentioned in paragraph (1)(e), the administrator must notify the Authority of any action that the administrator has taken, or intends to take, to restore the integrity or security of the transmission or storage of the record mentioned in paragraph (1)(e).