ESMA updates benchmarks Q&As on third country issues
The European Securities and Markets Authority (ESMA) has published updated Questions and Answers (Q&As) regarding the implementation of the Benchmarks Regulation (BMR).
The Q&A include two new answers regarding the following topics:
- Scope of the BMR: Application of the BMR outside the EU; and
- Transitional provisions: Transitional provisions applicable to third country benchmarks.
The purpose of this document is to be a practical convergence tool used to promote common supervisory approaches and practices in the application of the BMR. It should also help investors and other market participants by providing clarity on the requirements. ESMA will periodically review these Q&A and update them where required.