Benchmark administrators should review the quality of their ESG benchmark disclosures ahead of a review by EU regulators during 2024.
On 13 December 2023, the European Securities and Markets Authority (ESMA), the EU’s...more
The proposal would substantially reduce the number of benchmarks in scope of the EU BMR.
On 17 October 2023, the European Commission published a legislative proposal that would significantly alter the benchmarks in scope...more
The draft RTS introduce new, potentially more onerous obligations on the administrators of all categories of benchmarks.
Key Points:
..The draft RTS contain new guidance that makes clear who is responsible for which...more
ESMA has published its response to the Commission’s review of the BMR, which gives an indication of the areas where changes to the regulation are more likely to be made.
Key Points:
..ESMA’s response to the European...more
Firms outside of Europe should be aware of planned upcoming changes to how they access European markets.
Key Points:
..The EU legislators have been reviewing various financial services regimes and developing reforms...more
1/14/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Central Counterparties ,
Counterparties ,
Credit Rating Agencies ,
Cross-Border ,
Cross-Border Transactions ,
EMIR ,
EU ,
EU Benchmark Regulation ,
European Commission ,
Financial Services Industry ,
MiFID II ,
Regulatory Reform ,
Third Country Entities (TCEs) ,
UK ,
UK Brexit
European Commission review will inform potential future legislative change.
Key Points:
..The European Commission is seeking views on various aspects of the regime, and asking for feedback on areas in which improvements...more
HM Treasury has published draft legislation that will allow the UK to make timely equivalence decisions in relation to the EU.
Key Points:
..Post-Brexit, HM Treasury will take on the role of making equivalence decisions...more
1/22/2019
/ Capital Requirements Regulation (CRR) ,
Credit Rating Agencies ,
EMIR ,
EU ,
EU Benchmark Regulation ,
EU Prospectus Regime ,
European Economic Area (EEA) ,
Financial Services Industry ,
HM Treasury ,
MiFIR ,
Onshoring ,
Proposed Legislation ,
Short Selling ,
Solvency II ,
UK ,
UK Brexit
ESMA has published a new Q&A clarifying the transitional arrangements for third country benchmarks under the EU Benchmarks Regulation (BMR).
Key Points:
..Non-EEA benchmarks that are being used in the EEA before 1...more
The European Commission is consulting on delegated acts clarifying the meaning of certain key terms.
On 22 June 2017, the Commission published four draft delegated acts under the EU Benchmarks Regulation (BMR). These acts...more
FCA proposes amendments to UK rules and clarifies timing for applications by benchmark administrators.
Key Points:
..The FCA is consulting on consequential changes to the Handbook, plus additional UK aspects of...more
FCA Consultation Paper sets out proposed approach to compelling LIBOR contributions.
The FCA has published a Consultation Paper (CP17/5), setting out its proposed approach to the use of its compulsion powers under the EU...more