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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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