Article 1
Criteria at the level of the administrator
Competent authorities may require changes to the compliance statement referred to in Article 26(3) of Regulation (EU) 2016/1011 where they consider that such statement is not clear about why the administrator concerned should be allowed not to comply with one or more of the requirements referred to in Article 26(1) of Regulation (EU) 2016/1011, and more particularly where there is a lack of clarity about:
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(a) |
the organisational structure of the administrator concerned and the conflicts of interest that may arise as a result of its structure; |
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(b) |
the identification and management of conflicts of interest related to the employees of the administrator concerned, the persons whose services are placed at its disposal or under its control and the persons directly involved in the provision of the non-significant benchmark; |
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(c) |
the process of oversight of the provision of the non-significant benchmark, taking into account the vulnerability of the benchmark concerned and the scale of the administrator’s organisation; |
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(d) |
the control framework for the provision or publication of the non-significant benchmark or for making it available, including the administrator’s exposure to operational risk, business continuity risk or to the risk of disruption of the benchmark provision process. |