Regulatory Alerts2021-09-24
Guidelines on methodology, oversight function and record keeping under the Benchmarks Regulation
The European Securities and Markets Authority (ESMA) issued final guidelines to clarify the application of the Benchmarks Regulation regarding methodology, oversight, and record keeping. The document requires administrators to define principles for using alternative methodologies during exceptional circumstances and to implement robust consultation procedures for material changes. Additionally, it mandates specific record-keeping practices for deviations from standard methods and establishes detailed requirements for the composition and independence of oversight functions.
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