ESMA amends and consults on standards for benchmark administrator applications
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published a Final Report on the review of the regulatory technical standards (RTS) on the form and content of applications for recognition by non-EU benchmark administrators, and a consultation on amendments to the RTS on the information that EU benchmark administrators need to provide in applications for authorisation and registration.
Amended standards for applications for recognition
The Final Report includes draft RTS that aim at aligning the information provided in a recognition application with the amended BMR following the transfer of direct supervisory responsibilities to ESMA. This is to ensure that these applications include all necessary information in order for ESMA to assess whether the applicant meets BMR requirements.
Third country benchmark administrators who wish to apply for recognition, are encouraged to contact ESMA at Supervision-BMR@esma.europa.eu.
Input sought on standards for applications for authorisation and registration
In the consultation also published today, ESMA is seeking stakeholder views on proposed changes to the RTS on authorisation and registration. The objective is to safeguard equal treatment between EU and non-EU Benchmarks administrators by aligning the information requested in applications from EU administrators with the information requested in recognition applications from non-EU administrators.
Next steps
The draft RTS on recognition are sent to the European Commission (EC) for endorsement in the form of a Commission Delegated Regulation. Following the endorsement by the EC, the Commission Delegated Regulation will then be subject to the non-objection of the European Parliament and of the Council.
ESMA will consider the responses to its consultation before submitting the draft RTS on authorisation and registration to the European Commission for adoption. The closing date for responses from stakeholders is 31 January 2023.
Further information:
Sarah Edwards
Senior Communications Officer
@ press@esma.europa.eu