Featured Product

    ESMA Consults on Regulatory Standards Under Benchmarks Regulation

    March 09, 2020

    ESMA launched a consultation on regulatory technical standards under the Benchmarks Regulation. The proposed standards cover governance arrangements, methodology, reporting of infringements, mandatory administration of a critical benchmark, and non-significant benchmarks. ESMA will consider the feedback to this consultation in the second quarter of 2020. ESMA expects to publish a final report and submit the draft technical standards to EC for endorsement by October 01, 2020. The closing date for responses from stakeholders is May 09, 2020.

    The outcome of the ESAs Review, Article 5 of Regulation (EU) 2019/2175, had introduced changes to the Benchmarks Regulation or BMR, including a new mandate for ESMA to develop draft regulatory technical standards to further specify certain requirements of the Benchmarks Regulation:

    • Requirements to ensure that the governance arrangements of an administrator are sufficiently robust
    • Conditions that ensure that the methodology an administrator uses to determine a benchmark complies with the relevant requirements in Article 12(1) of the Benchmarks Regulation
    • Characteristics of the systems and controls established by an administrator to ensure the integrity of input data, to be able to identify and report to the competent authority any conduct that may involve manipulation or attempted manipulation of a benchmark
    • Criteria that the competent authority applies when assessing how the benchmark is transitioned to a new administrator or ceases to be provided
    • Criteria under which competent authorities may require changes to the compliance statement

     

    Related Links

    Comment Due Date: May 09, 2020

    Keywords: Europe, EU, Banking, Securities, Benchmarks Regulation, IBOR Reform, Critical Benchmarks, Regulatory Technical Standards, Governance, ESMA

    Related Articles
    News

    APRA Proposes to Increase Transparency of Banking Data

    APRA announced that it is resuming consultation on the confidentiality of data submitted to APRA by the authorized deposit-taking institutions.

    September 29, 2020 WebPage Regulatory News
    News

    EC Deems UK Framework for CCPs Temporarily Equivalent to EMIR Rules

    EC adopted a decision determining, for a limited period of time, that the regulatory framework applicable to central counterparties, or CCPs, in the UK and Northern Ireland is equivalent to the requirements laid down in the European Market Infrastructure Regulation (EMIR or Regulation 648/2012).

    September 28, 2020 WebPage Regulatory News
    News

    ESMA to Recognize Three Central Counterparties from UK

    ESMA announced that it will recognize three central counterparties (CCPs) established in the UK as third-country CCPs, from January 01, 2021.

    September 28, 2020 WebPage Regulatory News
    News

    PRA Publishes Version 02.04 of PRA110 Liquidity Metric Monitor Tool

    PRA published Version 02.04 of the PRA110 liquidity metric monitoring tool (PRA110 LMM tool).

    September 28, 2020 WebPage Regulatory News
    News

    LEI ROC Confirmed as Governance Body for OTC Derivatives Identifiers

    FSB confirmed the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System (GLEIS) as the International Governance Body for the globally harmonized identifiers used to track over-the-counter (OTC) derivatives transactions, with effect from October 01, 2020.

    September 25, 2020 WebPage Regulatory News
    News

    FCA Consults on Regulation of International Firms in UK

    FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.

    September 25, 2020 WebPage Regulatory News
    News

    EBA Launches Transparency Exercise for Banks in EU

    EBA launched the seventh annual transparency exercise for banks in EU.

    September 25, 2020 WebPage Regulatory News
    News

    EBA Publishes Single Rulebook Q&A Updates in September 2020

    The EBA Single Rulebook question and answer (Q&A) tool updates for this month include answers to 32 questions.

    September 25, 2020 WebPage Regulatory News
    News

    MAS Amends Notices on NSFR and Single Counterparty Credit Exposures

    MAS published amendments to the Notice 652 on net stable funding ratio (NSFR), along with the related reporting template.

    September 24, 2020 WebPage Regulatory News
    News

    EC Publishes Action Plan for Capital Markets Union in EU

    EC published the action plan to enhance the Capital Markets Union in EU over the coming years.

    September 24, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5855