ESMA Consults on Guidelines for Non-Significant Benchmarks
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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