ESMA_QA_755
31/03/2023
Subject Matter
Written plans under Article 28(2) (ESMA70-145-114_Q&A 8.2)
Original question
When are the written plans robust?
ESMA Answer
26-09-2018
Original language
ESMA considers that written plans are robust if they determine operational procedures in writing and if they include detailed courses of action, relevant communication channels and arrangements for different scenarios and contingencies. Written plans should be thorough and adequate. They should reflect the nature and size of the individual benchmark and the scale of its use in the markets. ESMA further considers that maintaining the robust written plans requires supervised entities to continuously monitor relevant factors and update arrangements as appropriate.
Status: Answer Published
Additional Information
Level 1 Regulation
Benchmarks Regulation (BMR) - Regulation 2016/1011
Topic
Benchmarks Regulation