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    ESMA Consults on Guidelines for Non-Significant Benchmarks

    September 29, 2017

    ESMA launched a consultation on guidelines detailing the obligations that apply to non-significant benchmarks under the Benchmarks Regulation. The closing date for comments is November 30, 2017.

    The consultation paper proposes lighter requirements for non-significant benchmarks, their administrators, and their supervised contributors in relation to the following four areas:

    Procedures, characteristics, and positioning of oversight function

    Appropriateness and "verifiability" of input data

    Transparency of methodology

    Governance and control requirements for supervised contributors

    The first three areas are applicable to administrators of non-significant benchmarks while the fourth one is directly applicable to supervised contributors to non-significant benchmarks.

     

    Related Link: Consultative Guidelines and Feedback Template

    Comment Due Date: November 30, 2017
    Keywords: Europe, EU, Securities, Benchmarks Regulation, Non-significant Benchmarks, Supervised Contributions, ESMA

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