Benchmarks Regulation: Difference between revisions
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imported>Doug Williamson (Create pages. Sources: EUR-Lex http://eur-lex.europa.eu/legal-content/en/TXT/?uri=CELEX%3A32016R1011 & Clifford Chance briefing note https://www.cliffordchance.com/briefings/2016/09/the_new_eu_benchmarksregulationwhatyounee.html) |
imported>Doug Williamson (Add abbreviation.) |
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Regulation (EU) 2016/1011 of the European Parliament and of the EU Council of 2016. | Regulation (EU) 2016/1011 of the European Parliament and of the EU Council of 2016. | ||
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Revision as of 22:31, 14 February 2019
(BMR).
Regulation (EU) 2016/1011 of the European Parliament and of the EU Council of 2016.
The Benchmarks Regulation relates to indices used:
- As benchmarks in financial instruments and financial contracts or
- To measure the performance of investment funds.
The Benchmarks Regulation imposed new requirements on firms that provide, contribute to or use a wide range of interest rate, currency, securities, commodity and other indices and reference prices.
Most of the new rules apply with effect from 1 January 2018, but some provisions relating to critical benchmarks were brought into effect earlier.
The rules present a significant implementation challenge, particularly where EU firms reference non-EU benchmarks in securities or derivatives, or use them in the management of investment funds.
