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UK Parliament · Bill
Critical Benchmarks (References and Administrators’ Liability) Act 2021
Summary
This Act strengthens rules around financial benchmarks (key numbers that affect loans, savings, and investments) and makes the organizations that manage them legally liable if they fail in their duties. It's designed to prevent fraud and ensure these important financial measurements are reliable and trustworthy.
A vote to support means
- —Supporting this Act means protecting people's money and investments. It makes sure that the organizations managing important financial benchmarks (like interest rates) are held responsible if they break the rules, giving people better confidence in the financial system.
A vote to oppose means
- —Critics might worry that the Act places too much legal responsibility on benchmark administrators, which could make it harder or more expensive for them to operate. Some may also be concerned that it doesn't go far enough in preventing financial misconduct or protecting smaller investors.
Cast Your Vote
People's Vote0 votes
0% Support · 00% Oppose · 0
Bill Passage
Commons
- 1st reading3 Nov 2021
- 2nd reading18 Nov 2021
- Committee stage18 Nov 2021
- 3rd reading18 Nov 2021
Lords
- 1st reading8 Sept 2021
- 2nd reading13 Oct 2021
- 3rd reading2 Nov 2021
Royal Assent15 Dec 2021
Full Bill Description(click to expand)
No description available