ESMA updates Q&As on Benchmarks Regulation

On 17th July 2018, the European Securities and Markets Authority (ESMA) updated its Questions and Answers (Q&As) on the Benchmarks Regulation (BMR).

The updated BMR Q&As provided new answers regarding the following topics:

• Whether calculation agent should be considered users of benchmarks; and
• Whether a benchmark can be considered as ‘regulated-data benchmark’ if a third party is involved in the process of obtaining the data.

The purpose of these Q&As is to promote common supervisory approaches and practices in the application of BMR. It aims at providing investors and other market participants with clarifications on the applicable requirements.ESMA will periodically review these Q&As and update them where required.