On 2nd April, secondary legislation comes into force amending the Regulated Activities Order came into force, making “the administering of, and providing information to, specified benchmarks” a regulated activity under FSMA [the Financial Services and Markets Act 2000]. Initially, the only specified benchmark is BBA LIBOR. This means that until a new LIBOR administrator is appointed, the part of the British Bankers’ Association responsible for overseeing this benchmark became regulated. This statutory amendment in no way affects the manner in which LIBOR data is distributed, but it does mark another significant stage in the implementation of the Wheatley Review‘s recommendations. . .