ESMA Guidelines and Recommendations

ESMA consults on Guidelines for non-significant benchmarks

ESMA Guidelines and Recommendations

Date: 06 October 2017

On 29th September 2017, the European Securities and Markets Authority (ESMA) launched a consultation on Guidelines detailing the obligations which apply to non-significant benchmarks under the Benchmarks Regulation (BMR).

The Consultation Paper proposes lighter requirements for non-significant benchmarks, their administrators and their supervised contributors in relation to four areas:

  1. procedures, characteristics and positioning of oversight function;
  2. appropriateness and verifiability of input data;
  3. transparency of methodology; and
  4. governance and control requirements for supervised contributors.