Dentons Warsaw has helped GPW Benchmark apply to the Polish Financial Supervision Authority for authorization to administer reference rates, including the key interest rate benchmark WIBOR.
“Filing the application before the end of 2019 means that the transition period under which supervised entities may continue to use WIBID and WIBOR benchmarks is extended until PFSA issues the authorization,” reports Dentons. “In the meantime, GPW Benchmark will follow an administrative procedure that requires the provision of addenda and explanations as well as amendments, if requested by the supervision authority.”
The Dentons team included Partner Marcin Bartczak and Associate Tomasz Orczykowski.
Earlier this month Dentons also helped GPW Benchmark obtain permission from the Polish Financial Supervision Authority to administer all stock exchange indices, including the WIG20, mWIG40, sWIG80, and NCIndex, as well as the TBSP.Index (as reported by CEE Legal Matters on December 9, 2019).