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ESMA updates Q&As on the Benchmarks Regulation

29 September 2017

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 four new answers regarding the following topics of the BMR:

  • Scope of the BMR: (i) Application of the BMR to EU and third country central banks; (ii) Exemption on single reference price.
  • Definitions of the BMR: (i) “family of benchmarks”, (ii) “use of a benchmark”

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