The European Securities and Markets Authority (ESMA) issued an update of its Question and Answers (Q&As) on the European Benchmarks Regulation (BMR).
Following the publication in the Official Journal of the European Union of Regulation (EU) 2019/2089 as regards EU Climate Transition Benchmarks, EU Paris-aligned Benchmarks and sustainability-related disclosures for benchmarks, the modified Q&A provide clarification on the transitional provisions applicable to third country benchmarks.
The purpose of this document is to promote common supervisory approaches and practices in the application of the BMR. It provides responses to questions posed by the public, market participants and competent authorities in relation to the practical application of the BMR. The content of this document is aimed at competent authorities under the Regulation to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA. It also provides guidance to market participants by providing clarity on the BMR requirements.