(10)ASIC adopted the ASIC Financial Benchmark (Administration) Rules 2018 (‘Administration Rules’) under section 908CA of the Corporations Act and the ASIC Financial Benchmark (Compelled) Rules 2018 (‘Compelled Rules’) under section 908CD of the Corporations Act. The Administration Rules lay down requirements for benchmark administrator licensees and contributors including governance and oversight requirements, outsourcing requirements, requirements to guard against conflicts of interest, benchmark design and method requirements and input data requirements. The Compelled Rules regulate the mandatory generation or administration of a significant benchmark or mandatory submissions to a significant financial benchmark.