The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today updated its Questions and Answers on the European Benchmarks Regulation (BMR).
The Q&As provide clarification on transitional provisions of the Regulation regarding critical benchmarks.
The purpose of this Q&A is to promote common supervisory approaches and practices in the application of the BMR. It provides responses to questions posed by the general public, market participants and competent authorities in relation to the practical application of the BMR. The content of this document is aimed at competent authorities under the Regulation to ensure that their supervisory activities are aligned with the common practices set out in the responses adopted by ESMA. The updated Q&As also provide guidance to market participants on BMR requirements.
ESMA will periodically review these Q&A and update them where required.