FCA Head of Markets Policy, Edwin Schooling Latter, has spoken to the Chartered Institute for Securities & Investment European Regulation Forum on the advent of the Benchmark Regulation. Mr Latter talks about who will be affected by the Regulation and what preparatory work firms should be doing. He said the EU’s Regulation will take precedence over FCA’s existing rules in the Market Conduct sourcebook and will affect a wider set of firms, namely benchmark administrators, benchmark contributors and users. He also urged firms not to wait until level 2 EU legislation to assess what changes they may need to make and to focus not only on what is in scope of the Regulation but also more widely, as indices outside it may also present risks for which controls could be important. (Source: FCA Discusses Benchmark Regulation Worries)