9. Responsibilities of oversight committee

An oversight committee for a designated benchmark must —

carry out periodic reviews of the scope and adequacy of the definitions, design and methodology of the designated benchmark;

carry out periodic reviews of the scope and adequacy of the code on designated benchmark for the designated benchmark;

carry out periodic reviews of the scope and adequacy of the arrangements in place to facilitate the business of administering the designated benchmark, including —

the mechanisms for receiving information in relation to any manipulation, attempted manipulation, or suspicion of manipulation or attempted manipulation, of the designated benchmark, and reporting such information to the Authority; and

the mechanisms for receiving information in relation to the failure of any authorised benchmark submitter, exempt benchmark submitter or designated benchmark submitter, that provides information in relation to the designated benchmark, to comply with the code on designated benchmark for the designated benchmark; (d)carry out periodic reviews of the scope and adequacy of the measures in place for the maintenance of confidentiality of all information and expressions of opinion used to determine the designated benchmark; (e)report the findings of the periodic reviews mentioned in sub‑paragraphs (a) to (d) to the authorised benchmark administrator or exempt benchmark administrator that carries on the business of administering the designated benchmark;

make recommendations, based on the findings of the periodic reviews mentioned in sub‑paragraphs (a) to (d), to the authorised benchmark administrator or exempt benchmark administrator that carries on the business of administering the designated benchmark; and

oversee the implementation of any change to the definitions, design or methodology of the designated benchmark.

An oversight committee for a designated benchmark must monitor the implementation of all remedial actions recommended, in a report mentioned in regulation 13(2), in relation to the authorised benchmark administrator or exempt benchmark administrator that carries on the business of administering that designated benchmark.

An oversight committee for a designated benchmark must —

carry out periodic reviews of the scope and adequacy of the definitions, design and methodology of the designated benchmark;

carry out periodic reviews of the scope and adequacy of the code on designated benchmark for the designated benchmark;

carry out periodic reviews of the scope and adequacy of the arrangements in place to facilitate the business of administering the designated benchmark, including —

the mechanisms for receiving information in relation to any manipulation, attempted manipulation, or suspicion of manipulation or attempted manipulation, of the designated benchmark, and reporting such information to the Authority; and

the mechanisms for receiving information in relation to the failure of any authorised benchmark submitter, exempt benchmark submitter or designated benchmark submitter, that provides information in relation to the designated benchmark, to comply with the code on designated benchmark for the designated benchmark; (d)carry out periodic reviews of the scope and adequacy of the measures in place for the maintenance of confidentiality of all information and expressions of opinion used to determine the designated benchmark; (e)report the findings of the periodic reviews mentioned in sub‑paragraphs (a) to (d) to the authorised benchmark administrator or exempt benchmark administrator that carries on the business of administering the designated benchmark;

make recommendations, based on the findings of the periodic reviews mentioned in sub‑paragraphs (a) to (d), to the authorised benchmark administrator or exempt benchmark administrator that carries on the business of administering the designated benchmark; and

oversee the implementation of any change to the definitions, design or methodology of the designated benchmark.

An oversight committee for a designated benchmark must monitor the implementation of all remedial actions recommended, in a report mentioned in regulation 13(2), in relation to the authorised benchmark administrator or exempt benchmark administrator that carries on the business of administering that designated benchmark.